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Growth: Wishing for it, Getting it, Surviving it. Stuart Teshima

Growth: Wishing for it, Getting it, Surviving it. Stuart Teshima Vice President and Corporate Controller. Growth. Everyone hopes for it. It defines accomplishment in business. It must be handled with care and attention or it has the potential to collapse a company.

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Growth: Wishing for it, Getting it, Surviving it. Stuart Teshima

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  1. Growth: Wishing for it, Getting it, Surviving it. Stuart Teshima Vice President and Corporate Controller

  2. Growth • Everyone hopes for it. • It defines accomplishment in business. • It must be handled with care and attention or it has the potential to collapse a company. • Epsilon (Internal Organic Growth): • An increase of 45% in 2006. • An increase of 39% in 2007.

  3. History and Highlights • Diversified Engineering, Technical & Professional Services Corp. Six Business Areas • Marine and Industrial Services: Ship Repair, Alterations & Fleet Support • Fleet Engineering Services: Engineering & Technical Services • Nuclear Operations & Environmental Management Services • Information Technology & Communications/C4ISR total program support • Manufacturer of Flat Panel Displays and customized electronics • Security Technology • Contract Vehicles • Department Of Energy • Department of Defense • Department of Homeland Security • General Services Administration

  4. Awards 2006 “San Diego’s Best Workplaces” Awarded by San Diego Magazine • 2007 – DOD selects Lockheed Martin Maritime Systems and Sensors and Epsilon Systems Products Sector for the prestigious Nunn-Perry Mentor-Protégé award • 2007 – San Diego Business Journal names Epsilon as one of “San Diego’s Best Places to Work” • 2006 – Epilepsy Foundation of San Diego County recognizes Epsilon as Employer of the Year • 2006 – San Diego Magazine recognizes Epsilon as one of “San Diego’s Best Workplaces” • 2006 & 2004 - The San Diego Business Journal recognizes Epsilon as one of the finalists for “The Best Companies to Work for in San Diego” • 2005 - Epsilon received Minority Owned Technology Company of the Year Award by Inland Empire and the Minority Business Development Center, a federally-funded program of the Minority Business Development Agency of the U.S. Department of Commerce • 2003 – Inc. Magazine ranks Epsilon as #1 in the Defense Sector in their America's 500 Fastest-Growing Private Companies List 2003

  5. Employee Growth Number of Employees Number of Employees

  6. AnInternationalCompany • Overseas locations include: • Guam • Yokosuka, Japan • Sasebo, Japan 18 Offices in 17 Locations Bremerton, WA Everett, WA Idaho Falls, ID Newport, RI Pearl Harbor, HI Las Vegas, NV Denver, CO Portsmouth, VA China Lake, CA Oak Ridge, TN San Diego, CA Albuquerque, NM National City, CA Corporate Headquarters/ Products Nuclear Operations & Environmental Mgmt. Services Marine & Industrial Services Information Technology & Communications Services Fleet Engineering Services Keller, TX 11-9-06

  7. Challenges • Types of growth • More of the same • Vertical Integration • People & Processes • Diversified Growth • Risks inherent with new business • Potential lack of skill sets needed to succeed • Service company versus Manufacturer • Foreign business • Government versus Commercial

  8. Process • Initial Assessment. • What do you have, what do you need? • Interpreting what is ahead. • Wolf at the door and define your gaps. • Think big, strategic and set your goals. • Continuously monitor and reassess. • Focus on objectives. • Evaluate how you did? • Repeat, repeat, repeat.

  9. Initial Assessment • Take an Inventory of Personnel • What experience do they posses? • Examples include Public Reporting, • SOX skills, Strategic Thinkers or plodders. Look at your company from a strategic vantage point. • What are your largest risks? • Take an inventory of Culture • Change resistant or Change seeking • Old School Mentality – “We’ve always done it that way.”

  10. What do you have? • Small Company Mindset. • Tactical and stuck in Quadrant 1. • Bottleneck in decision making. • Slow to react. • Big Company Expectations. • Deliver results. • Everything boils down to numbers. • Tone at the top, ethics based system of controls. • Process • Recognize the environment change. • Auditing is moving toward a risk oriented process model. • Ending balances are a result of process.

  11. What do you have (cont’d) • Culture • Is there an element that is non-financial in nature that creates success? • Identify the “intangibles” that make your company desirable. • Is there a current underfoot that is a priority? • Preserving profit versus culture/core values. • Examples • Epsilon • Ben & Jerry’s

  12. What do you need? • What do you have to do today that you didn’t yesterday? • More people to supervise. • More levels of management. • What will you have to do tomorrow that you didn’t today? • Regulatory. • Multiple sources of audit activity. • What makes sense to implement, what makes sense to defer? • Risk; • Importance; • Cost.

  13. Wolf at the door! • Risk evaluation. • What issues could potentially cause the most disruption in your organization? • What fits into the companies strategic plan over the next 3-5 years? • Develop objectives after reviewing the companies strategic objectives. • Identify gaps. • Address immediate steps to correct in the short term. • Use your limited resources wisely to develop a strategic plan.

  14. Dare to think big • Your goals should address big initiatives not just compliance or general job duties. • Use middle management to be responsible for the tactics. • When developing goals, think big and always endeavor to overshoot goals. • You can always alter them if the situation changes.

  15. Continuous Monitoring • Fallacy of success. • Process is continuous and evolving. • Never rest on goals achieved. • Your company is perpetually changing and so should your thinking. • Quad 1 versus Quad 2 • Imperative to force yourself to “work on the company” not “in the company.”

  16. How did you do? • Use “SMART” Goals. • SMART (Specific, Measurable, Attainable, Realistic & Time Bounded) • Avoid soft, non-quantifiable goals. • Have the discipline to review goals at least quarterly. • Alter them if conditions warrant. • Develop follow on or new goals at this time.

  17. Repeat, repeat, repeat. • Not a static, one time activity. • Retrospective; • Over time, your organization will become stronger, more efficient and able to handle the rigors of a dynamic environment. • By reviewing/revising each quarter; • You ensure the course changes necessary to keep your focus strategic. • Keep your planning efficient.

  18. Conclusion • Growth is a blessing and a curse. • Assessing your organization and people is a necessary step. • Development of an evolving strategic plan is vital. • Review risks to your company. • Continue to review your organization and plan.

  19. Questions?

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