It is 2016 somewhere in the European Union. A recent scandal forced the company Growth Corp to fire its complete leadership team. This Tuesday on a bright September morning the new CEO Tim Mitchell is holding his first press conference to introduce himself and how he sees the future of Growth Corp. These are some parts of the press conference.
“Welcome to the new Growth Corp. It is time to lead this company to new frontiers. For all of its stakeholders, internal and external. Growth Corp will now not only be focusing on regular business growth but responsible business growth. But what does that mean? Well let’s take a look and what Growth Corp is about at the moment and I will show you what kind of company I am trying to create when I am speaking of a responsible company.” Mitchell is starting his presentation:
Growth Corp data before today
- Turnover of 500 million US dollars. 10-15% growth annually is the forecast and always has been a goal for each business stream,
- 4 different business streams that are all making money, all in niche markets that are technology and customer service heavy,
- Ownership structure: 100% venture capital.
Be the market leader in each market or leave it all together. Be a tough competitor and win at all costs.
Why the new management?
During the beginning of 2016 reports started to come in about widespread corruption and unethical business practice within Growth Corp. Since then the reputation and customer loyalty is at its lowest since the company was created 10 years ago.
The new responsible Growth Corp
The CEO continues: “When the owners of Bright Capital Investors (BCI) contacted me to discuss a possible role I declined right away with the simple reason that I wanted a role that had a majority of employee ownership and not a pure venture capitalist. They directly responded by letting me know that BCI had decided to do exactly that with Growth Corp. They wanted to start the process of selling the majority of the business to its employees and take up the roles as minority shareholders once new more responsible business processes and values where started to be implemented. They realized that their business strategy had failed and the current business practice needed to change in order to continue to create continuous growth and revenue for its stakeholders.
After tough negotiations and written assurances that this structure would be taken once certain goals where hit I agreed to take on the huge task of turning this business inside out and giving this business back to the employees and local communities. This was our starting point and today is the first official day our the new Growth Corp.
I envisage Growth Corp to continue to grow continuously while at the same time converting to a business that benefits its employees and communities it does business in. This sounds like a dream but let’s be honest, if a business fails society like Growth Corp did with the recent scandal, a dream of a better more responsible business is the only way forward for Growth Corp and its 2000 employees and other stakeholders.
Please feel free to join me to turn this business into a business that benefits its customers, its employees, local community and all other stakeholders.
Over the coming weeks you will be able to hear and read in detail what the future responsible business practice of Growth Corp can look and like and where we are going towards together!”
More from Growth Corp will follow in the next days. If you have any feedback or suggestions please comment below, fill out the contact form or follow me on Twitter.
Disclaimer: The story of Growth Corp is pure fiction and does not relate to anyone or any business that exists. The purpose of the series is to provide the reader with a different way of approaching the subject of responsible business practice and management.
Picture Credit: Pixabay