The business challenge
At the first board meeting after the AGM, it was unanimously agreed that Damien Protus, the CFO, would lead the transformation program (which they named phoenix), to deliver on the three key objectives. Further details on how to deliver on the growth plan over the next five years were left to each of the CxO members to define.
Let’s look at the business challenges facing Spark4Life Ltd today.
Top-line growth
With the rapid decline in sales, revenue, and after-sales services, there is increased pressure to improve profitability, cash flow, and share price. It was decided to review its current products and services and introduce new product lines and services going beyond its traditional white goods business and to grow its revenue by creating differentiating business models that would allow rapid innovation and time to market. It would also focus on industry-specific standardized processes and best practices to help increase the margin.
