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Firm's Specific Experience In The Field of Assignment

International Marketing and Consultancy Services Pty Ltd was established as a Consultancy and Valuation Service to Governmental and non-Governmental agencies, private and public sector companies.

We have advised companies on various aspects of management strategy and proposals in order to highlight areas where deficiencies exist and improvements can be undertaken.  We have also utilized our services in the sales, mergers and take-overs of businesses.

Clients and corporations have sought our advice on such diverse applications as,
feasibility studies, advice on asset procurement and disposal, advice on utilization of personnel and assets in order to maximise profitability and minimise costs, advice on the purchase and sale of businesses both as a going concern and as a liquidated company.  We have also been requested to report on various management strategies implemented by companies in order to report on the effective result and implementation.

Whilst working for various companies, Stephen Haughey was also called upon to utilize his managerial skills in assessing the viability of various departments and implementing controls to improve results within these entities.  He has also been involved in the closing down of departments and branches and the subsequent retrenchment of certain personnel and the re-incorporation of other personnel into various designated jobs.

Whilst involved in auditing and accounting, he was involved in the investigation of fraudulent activities in stock control, inventory management and general accounting duties.  As an accountant, he was directly involved in the setting up of buying offices, in order to procure various items from overseas for the heavy trucking industry.  These duties included the control of the buying office, the import office, shipping control, stock control and general accounts office including debtors and creditors.

It must be noted that these departments had to function in conjunction with the assembly line who relied on the timeous delivery of parts in order to complete the assembly of trucks.  Any delays experienced in procuring the parts or services had a direct bearing on the production capacity of the business and therefore affected the overall profitability.

Other consultants, who have worked with Stephen Haughey and for International Marketing Consultancy Services Pty Ltd in the past, have been drawn upon for their specific expertise in a particular field of management, control and implementation of specific tasks paramount to the smooth running of a particular assignment.

 

Stephen Haughey

a)  General qualifications:

Auditor, Accountant, Management Consultant, Valuator
20 Years experience in auditing, accounting, consultancy work and valuations. 

Has undertaken audit duties in Botswana, South Africa and Lesotho.  Has served as an Accountant for both large and small corporations throughout South Africa.  Has provided valuation services throughout Southern Africa, Mocambique and Lesotho.  Has provided Management Consultancy expertise to both large and small companies, Governmental and non Governmental organizations throughout South Africa, Mocambique and Lesotho.  Has been involved with both the accounting and legal profession in the closure of businesses and the disposal of assets and has been involved in the retrenchment of staff.  Has been involved in the running of and management decision making processes and has been called upon for his experience in a vast number of business undertakings.  Has many years experience in the transportation industry with particular reference to the importation of components in the heavy trucking and transportation sector.  Has undertaken various talks on management and valuation practices.  At present is a member of the committee of the Local Economic Development Forum.  Has been directly involved with the privatisation unit.

Mr Haughey has been involved in the restructuring and privatization of  Government assets.  This contract involved working closely with Government and private sector companies in the restructuring of the transportation needs and services of the Government.

This led to the eventual restructuring and privatization of the assets belonging to the Government together with the redeployment of personnel and transferring  of assets to a joint venture company.  The assets comprised approximately 3000 items, 450 personnel, 7 buildings, rental services and public works.

This contract was run in two parts.  Part one being to gain effective management control of all assets and make recommendations to the Government on future  needs together with recommendations on the way forward.  Part two comprised the implementation of recommendations undertaken in part one together with the divestiture and subsequent setting up of a joint venture company between Government and the private sector, with Government retaining a minority share holding and the private sector company a majority share holding.

Other aspects included the undertaking of services which were not currently performed by the Government  together with analysis and implementation of business plans to increase profitability and long term stability of the new company.

After implementation of the new company, Mr Haughey’s services were retained by the Government in an advisory capacity.

A separate unit was also proposed to oversee the procurement and servicing of Ministerial assets.  This was undertaken as a separate exercise to the Government.

Mr Haughey has been involved in privatization work in Africa for the World Bank.

During his years as an accountant, he has been involved with the retrenchment of staff and the closure of divisions.  As an auditor, he has extensive experience in stock control.

As a consultant, he has been involved in negotiations for take-overs, mergers and sales of businesses through diversification, disinvestment, management buyouts and closures.  He has been involved with various banking institutions in the disposal of assets.

He has also been directly involved with the privatisation unit on previous assignments

He has been a member of the committee of the Local Economic Development Forum which is tasked with setting up small businesses to combat unemployment.  This involves discussions with Governmental and non-Governmental organizations, undertaking studies regarding the viability of operations, setting up pilot projects, undertaking management initiatives and the training of managers.

He has been involved with both the accounting and legal profession in the closure of businesses and the disposal of assets and has been involved in the retrenchment of staff.  He has been involved in the running of and management decision making processes and has been called upon for his experience in a vast number of business undertakings.  He has many years experience in the transportation industry with particular reference to the importation of components in the heavy trucking and transportation sector and has undertaken various talks on management and valuation practices.

Mr Haughey has undertaken work assignments throughout Australia and Africa.  He has previously undertaken privatisation work in Africa.

Identification of goals and objectives:

A primary aim of this assignment as set out in the objectives of the contractor, will be to restructure the Government assets.  In working towards this goal, the contractor will seek to minimize any disruption in the provision of services to Government, by working in close consultation with the Ministry.

The decision making process:

Without decisions nothing would happen, even allowing things to continue as they are, implies a decision.  The process of making a decision may be broken down into a logical and orderly series of steps.  Important steps in the decision making process are:-

  • Identify and define the problem.
  • Collect relevant data, facts and information.
  • Identify and analyse alternative solutions.
  • Make the decision – select the best alternative.
  • Implement the decision.
  • Evaluate the results and bear responsibility for the outcome.

Identifying and defining the problem

Problems are the result of identifying something that is not as it should be.  This may be a goal that is not being attained or a deficiency in the organization or operation of the business, identified by finding a difference between what is and what should be.  It is imperative that problems are identified quickly.  Most problems will not go away by themselves.

Collecting data and information

Once a problem has been identified and properly defined, the next step should be to gather data, information and facts and to make observations which pertain to the specific problem.  A concise definition of the problem will help identify the type of data needed and prevent time being wasted gathering information which is not useful to the particular problem.

Data may be obtained from a number of sources.  An important source of data and information is an accurate and complete set of past records.  Whatever the source, the relative accuracy and reliability of the information obtained should be considered.

It is important to make a distinction between data and information.  Data can be thought of an unorganized collection of facts and numbers obtained from various sources. In this form, the data may have very little use.  To be useful, these data and facts need to be organized, sorted and analysed.  Information can be thought of as the final product obtained from analyzing data in such a way that useful conclusions and results are obtained. 

Identifying and analyzing alternatives

Once the relevant information is available, the management team can begin listing alternatives which are potential solutions to the problem.  Several may become apparent during the process of collecting data and transforming data into information.  Others may take time and thought. 

Each alternative should be analyzed in a logical and organized manner to ensure accuracy and to prevent something from being overlooked.  In some cases, additional information may be needed to complete the analysis.  Good judgement and practical experience may have to substitute for information which is unavailable.

Making the decision

Choosing the best solution to a problem is not always easy.  Nor is the best solution always obvious.  If several alternatives have nearly the same potential effect, then the management team must access the chances or probability that each will have the expected or identified outcome and the risks associated with it.

Implementing the decision

Selecting the best alternative will not give the desired results unless the decision is correctly and promptly implemented.

Evaluating decisions and bearing responsibility

Responsibility for the outcome of a decision rests with the decision maker.  Careful observation and analysis will result in additional information which will allow corrections to be made and affect future decisions.

We appreciate and understand fully the need for the restructuring of the Government assets in it’s present form. 

We are confident that through carefully selected and stringently observed management practices, the majority of these problems could be overcome.  However, we must stress that this would involve the full co-operation of existing personnel involved in the day to day running of the Government assets.

In light of what has been mentioned previously, we will now highlight the key areas that the management team will focus on in order to provide the best solutions to the current problems being experienced by the Government.

 

A summary of the objectives, in no particular order of priority is set out below:-

  • To provide effective and efficient management control on a day to day basis. 
  • To implement control measures, to reduce the incidents of fraudulent activities and theft.
  • To analyse stock and workshop trends in relation to income and implement effective control of stock holdings and stock reporting. 
  • To implement effective time management control of employees with regard to work output.
  • Institute effective planning with regard to future workload of employees.
  • To implement effective report backs and meetings with management regarding staff, levels of staffing, morale, workload and such like.
  • To set up effective responsibilities for staff regarding duties and workload.
  • To curtail staff expenditure and stock holding.
  • To curtail the use of Government assets and to effect control of the assets.
  • To investigate under utilization of assets and overstocking of sites.
  • To analyse reasons of low productivity.
  • To analyse the Government assets and to report on the condition of assets.
  • To draw up time sheets for personnel, management and asset servicing.
  • To negotiate with prospective parties for the reorganization.
  • To analyse state procurement and recommend strategies to streamline effective future procurement and servicing.
  • To prepare lists of assets
  • To place advertisements in specialist publications.
  • To hold meetings at various venues to discuss various aspects.
  • To arrange insurance policies to cover assets
  • To set up office equipment and office procedures.
  • To delegate tasks.
  • To secure premises.
  • To visit the sites on a regular basis.
  • To correlate information and collect paperwork.
  • To prepare reports on a monthly basis.
  • To prepare the final report.
  • To analyse the staff compliment and make recommendations.
  • To analyse the businesses and make recommendations.
  • To privatise existing work.
  • To implement any recommendations made in previous reports/studies.
  • Investigate the registering of sub-divisions of buildings and properties.
  • Investigate the purchasing of properties with regard to deposits, interest rates, purchasing by non residents etc.

Please note, the above is a brief outline of the duties to be undertaken by the management team, whilst on site. 

The proposal which you have read and analysed is a summary of the procedures which would be adopted in the effective restructuring of the Government assets. 

We hope that through reading this proposal, you have understood, albeit briefly, the tasks and people who will be entrusted to manage the restructuring of these assets.  We hope that we have instilled in you the same confidence that we have in the abilities of the people who will be undertaking this task.

As a company we are confident that we can and will meet your objectives, as we have done for other companies.

We have over the years built our company on a basic strategy which is:-

Specialization is the key to providing the best professional expertise to meet the challenges of the new centurary and beyond.