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Queen’s University of Belfast

Queen’s University of Belfast. Presentation Stephen Kingon 26 November 2007. Synopsis. Career Highlights. Career Highlights. Career Highlights Twin Approach. Working with clients in developing their strategies and assisting in developing their businesses

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Queen’s University of Belfast

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  1. Queen’s University of Belfast Presentation Stephen Kingon 26 November 2007

  2. Synopsis Career Highlights

  3. Career Highlights

  4. Career HighlightsTwin Approach • Working with clients in developing their strategies and assisting in developing their businesses • Planning and controlling the development of own business

  5. Career Highlights • PricewaterhouseCoopers is the largest professional services firm in the world providing a range of services • Assurance • Tax • Advisory • Provided services to 85% of Fortune Global 500 • Employs 140,000 people worldwide • Global network • 771 cities • 149 countries • Global fee income in excess of $25 billion

  6. Synopsis Career Highlights Case Studies – Client Experience

  7. Case Studies – Client Experience

  8. Case Study 1 Background • Group operating internationally • Number of companies formed • Own management teams • Decentralised structure • High overhead base • Volume business • Contract control at company level • Contraction in business volumes across a number of sectors and markets • Consolidated results indicated £5 million loss at half year and a cash flow crisis 8

  9. Case Study 1 Action • Reviewed prospects for next six months • Determined cost reductions • Corporate restructuring proposals • Modelled the impact of proposals • Approached Bankers with update and plan • Created a centralised oversight board and a centralised management team • Appointed a Non Executive Chairman • Appointed other Non Executive Directors 9

  10. Case Study 1 Action • Introduced new Corporate Governance arrangements • Implemented turnaround plan • Close monitoring of position by oversight board • Continued use of new structures and challenge function • Implemented Strategic Planning framework • Continuous assessment of competitive position Group returned to profitability and has gone from strength to strength 10

  11. Case Study 2 Background • Group operating within British Isles • Number of companies formed • Own management teams • Decentralised structure • High overhead base • Volume business • Contract control at company level • A key customer for a number of the companies reduced its activity levels (good margin and payment terms) • Consolidated results indicated £1 million loss for year and pressure on cash and bank limits 11

  12. Case Study 2 Action • Chairman/Chief Executive and major shareholder approached Bank for increased support to enable them to overcome crisis • Bank requested an independent review • Review identified a number of issues • Need to rationalise product range • Need to rationalise number of plants • Improved planning and control required • New Corporate Governance arrangements • Need to split Chairman/Chief Executive role • Need to strengthen management team 12

  13. Case Study 2 Action • Initially Chairman/Chief Executive refused to accept recommendations and argued with findings • Eventually agreed to appoint a Chief Executive (a long-time friend) • Bank agreed interim financing package to enable rescue plan to be implemented 13

  14. Case Study 2 Action • Board and management slow to implement proposed actions and diluted the proposals in practice • Short term focus and lack of strategic analysis by Board • Management Team involved in crisis management • Bank called for further external review External Review indicated a worsening position and Bank appointed an Administrative/Receiver 14

  15. Synopsis Career Highlights Case Studies – Client Experience Developing Own Business

  16. Strategic Direction – Global GoalGlobal Goal • We must achieve and sustain market leadership in every major market world-wide

  17. Markets Brand Client Satisfaction Scale PwC as Leader Thought Leadership Innovation Range of Services Reputation Profitability Strategic Direction – Global GoalLeadership in Chosen Markets

  18. Strategic Direction – Global GoalGlobal Ambition “To be the leading global professional services organisation, solving complex business problems for top-tier clients in global, national and local markets”

  19. CSA Global Clients Focus Industry Trans National Clients Dominate Local Markets Strategic Direction – Global GoalClient Matrices

  20. Northern Ireland Strategic Direction • Adopt global criteria to sustain and improve leadership position in Northern Ireland market • Focus on knowledge based industries and develop local expertise and experience • Increased industry specialisation and expertise • Increase market share within growth areas in Northern Ireland • Sustain overall market leadership position • Think global and act local • Clients • People

  21. Global Clients Inward Investment Projects Strategic Alliances and Business Ventures Trans National Clients Internationalise Local Clients Northern Ireland Strategic DirectionClients

  22. Global Methodologies Global Experience Northern Ireland Core Market Mid Tier Opportunities Secondments Northern Ireland Strategic DirectionPeople

  23. Northern Ireland Market Position • Leading provider to Northern Ireland Public Sector • Leading provider to Northern Ireland Private Sector

  24. Market Positioning- Private Sector - Top 100 Companies • Overall Market Share • Act for 80% across all specialist services

  25. Northern Ireland Market Position • Leading provider to Northern Ireland Public Sector • Leading provider to Northern Ireland Private Sector • In-depth penetration of corporate sector

  26. Market PositioningPrivate Sector Companies employing more than 25 employees

  27. Northern Ireland Market Position • Leading provider to Northern Ireland Public Sector • Leading provider to Northern Ireland Private Sector • In-depth penetration of corporate sector • Increased employment to 800+ in 2007

  28. Northern Ireland Strategy • Dominate local market • Create Centres of Excellence within Northern Ireland • Generate export opportunities Overall Result Sevenfold increase in fee income in last 14 years

  29. Synopsis Career Highlights Case Studies – Client Experience Developing Own Business Current Activities

  30. Current Activities • Chairman Invest Northern Ireland • Chairman Centre for Competitiveness • Co-Chair North South Roundtable Group

  31. Current Activities Directorships • Allied Irish Bank Group plc • Allied Irish Bank (UK) plc • BT Ireland • Mivan Group • Property • Trading • Anderson Spratt (Holdings) Ltd Consulting/Advice • Douglas & Grahame Ltd • W&G Baird Ltd • Glenfarm Ltd • Project Click

  32. Open Forum

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