The Business plan of Coaching Services for P-----s S-----s Ltd

Transcription

1 The Business plan of Coaching Services for P-----s S-----s Ltd Kinga Magyar Entre-coach 30/08/2011 1

2 Introduction of P-----s S-----s P-----s S-----s is an ex-arthur Andersen Business Process Outsourcing (BPO) Group now operating a dynamic and rapidly expanding independent accounting business in the European region, delivering services to some of the largest corporations in the world. Through their own offices and together with their partner network they deliver highquality finance and accounting services for multinational companies in more than twenty European countries. Working in partnership with their multinational clients, their Group provides them with professional hands-on accounting support: Bookkeeping and Tax Compliance Statutory and International Reporting Payroll Interim CFO, Chief Accountant and Loan Staff Business Planning and Modeling and Tax 1 Fast Clean-up in Accounting This company was established in April 1999 and started its outsourcing activity in the same year. It provides mainly comprehensive financial and accounting services to new businesses and to other companies which do not have a separate finance or accounting division. P-----s S-----s also provides a wide range of integrated Business Process Outsourcing solutions, including comprehensive payroll, tax compliance (preparation of tax returns as required by law), loan staff services (they loan experienced staff members for a determined period) and other services requiring special expertise (e.g. liquidation, pre-auditing, preparation of group accounts, integrated accounting system 1 Homepage: 2

3 set-up and related consulting services). PS also undertakes to keep the accounting records in line with foreign accounting standards, such e.g. US GAAP, IFRS etc. and is able on top of the statutory financial statements to provide for the management of their clients with internal management reports based on foreign accounting standards. Due to the unfortunate break-up of the organization of Andersen Worldwide, P-----s S-- ---s Ltd. recently went through a management buyout process and now provides its services as an independent service provider. After the break-up P-----s S-----s Ltd. managed to retain the vast majority of its staff personnel and still uses the working methods and quality assurance programs, which were implemented when PS was part of the organization of Andersen Worldwide. They currently employ almost 300 professionals with university/college background. Besides, they pay a great deal of attention to all staff members continuous professional developments through the attendance of domestic and international courses. They also encourage their staff members to acquire tax advisor and audit certificates. Satisfaction of their clients is guaranteed by employing local experts with many years of experience. P-----s S-----s Ltd. applies up-to-date technical opportunities so it can provide accurate, daily and the most advanced services, which is essential in the constantly changing economic environment. Services of P-----s S-----s Ltd. cover comprehensive financial and accounting outsourcing activities including not only the statutory accounting for receivables, payables, cash, stock and fixed assets, but also services such as business planning and treasury functions as well as administrative tasks such as payroll and human resource services. In addition, P-----s S-----s offers functional outsourcing which may include accounting and management reporting, tax compliance (corporate tax, VAT, PIT, local and other taxes), preparing business plans and processing other administrative services (ex. representation of off-shore companies). PS employees are experts equipped with the necessary skills for financial, accounting and payroll work, and they keep an accurate documentation of all work they perform. 2 2 P-----s S-----s: Onboarding: History 3

4 The business plan presents the company s new business Idea: Introduction of Coaching Process for the company s middle management. Further possibility is to complete the P- ----s S-----s existing service portfolio with coaching services for the Clients. 4

5 Table of Contents Introduction of P-----s S-----s... 2 Table of Contents... 5 Summary of the business plan... 6 Mission... 8 Market survey... 9 PEST-Analysis of PS new coaching service... 9 Political Factors Economic Factors Socio-cultural Factors Technological Factors SWOT-Analysis of PS new coaching service Innovative and sustainable opportunities Coaching Vision Needs Marketing Strategy Next steps

6 Summary of the business plan P-----s S-----s is a middle-size Company. Headquarter operates in Budapest, Hungary and it has 4 subsidiaries in East- and Center Europe. You will be informed about headcount in June 2011 from the summary below. The table doesn t contain number of LOA s, Projects and Backoffice employees. Manager Level Senior Level Assistant Level HU RO SK PL CZ TOTAL Partners Managers ESR SR SSR ESA SA Interns Payrol Payroll GRAND TOTAL i 1. Illustration: PS Headcount 2011 June The company provides accounting and financial services for more than two hundred multinational Clients like Coca-Cola, Wizz Air, BMW, etc.. The corporate structure is set up like a pyramid with different levels. This structure represents and illustrates the chain of command within the organization. 6

7 2. Illustration: PS Organization Structure Corporate Main Responsibilities Level Manager Liaison between PS and the Client at management level, management of changes Handling professional and management problems Work and capacity planning at company level Planning of scopes of responsibilities, organization and direction of Projects Acquirement of new Clients Senior To supervise and control daily accounting activities Preparation of reports Management of ad hoc tasks 7

8 Assistant Daily accounting works, data registration Keeping records of invoices, recording in the ledger Preparation of report 3. Illustration: PS Organization Job Sharing P-----s S-----s usually hire fresh graduates and provide them many training to develop their professional knowledge and personal competencies. Based on the yearly appraisal system the most talented employees are promoted almost every year. The organization structure could be described with an up or go model. That means that the flow of employment is directed upwards or out from the company. Colleagues climb fast on the corporate ladder or they leave the firm. It s observable that young professionals have to manage a team (2-3 people) with only 2-3 years accounting experiences and they need not just a well-structured training system to know leadership competencies, but a continuously coaching as well. The business plan analyses two different questions: 1. If introduction of coaching services would be profitable for PS s middle management and Clients? 2. What is more effective to train coaches from the current employees or to buy coaching hours from experienced coaches? Mission of PS You will realize a fit between the business plan and PS mission if you read the next paragraph: We strive to become the most recognized regional service provider of multinational companies on Central Europe s business process outsourcing market. Therefore, we are building a long-standing acknowledged and homogeneous network of companies. 8

9 We support our committed employees to realize their career goals and advance their professional development. We combine excellent, reliable and up-to-date services with the provision of flexible, creative and quick solutions. 3 Market survey It is very important that PS considers its environment before beginning the new coaching process. Two different kind of strategic planning methods (PEST and SWOT) help us to see the company s environmental situation and business opportunities in aspect of coaching. PEST-Analysis of PS new coaching service Environmental analysis should be continuous and feed all aspects of planning. The organization's marketing environment is made up of the next layers: 1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc. 2. The micro-environment e.g. external customers, agents and distributors, suppliers, competitors, etc. 3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors. 3 P-----s S-----s s Mission 9

10 4 4.Illustrations: PEST Political Factors In my opinion the actual Hungarian political situation is not relevant in our topic. If we examine this aspect more closer, we will see that coaching services can be a solution for two parts of the PS s Mission: developing the employees knowledge and competencies and providing up to date services for clients. Economic Factors The coach-market is payable on demand in Hungary. But most of the budgets have only an amount for the upper-management coaching. There is an opportunity to train coaches inside the company. Job extension can be a motivator for the appropriate employees and it doesn t cost extra money for the company. Socio-cultural Factors The western business culture influences the Hungarian trends. Nowadays the coaching is very popular and every manager needs developing leadership competencies, because the business culture accepts only professionals with strong professional knowledge experience. Nobody count on a manager position with only theoretical knowledge about management. Technological Factors The technology is a vital part for our business and private life as well. The Internet, Smart-phones, social website like Facebook or Myspace became a part our every day

11 routine. These are very useful in keeping touch with others and in following-up and giving feedback continuously. SWOT-Analysis of PS new coaching service SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. A SWOT analysis must be a first start with defining a desired objective. 5 Strengths In the following field PS has an advantage over others in the industry. more than 200 existing Clients in accounting services. There is a unique selling point on fresh graduates and new managers. Weaknesses There is a continuous demand In the following field PS has a disadvantage relative to others. If employees could accept a coach inside the company or not? Coaching competencies weren t an aspect of PS recruitment process before. Managers and seniors are engaged on daily operating tasks and they haven t enough time for organizing, motivating or planning their team. Opportunities There are some external chances to make greater sales or profits in coaching. This high quality service will

12 induce a payable on demand. Threats There are some external elements in the environment that could cause trouble for PS. market. Strong competition in the As a summary of SWOT analysis P-----s S-----s has a great amount of strength in providing coaching services inside the firm and for Clients as well. In current business environment PS could find the business niche. Entering the coaching market for PS is a good opportunity to extend their business and increase profit. Innovative and sustainable opportunities The management of P-----s S-----s believes in Innovation and sustainable development. The company acquired the TQM Qualification in 2008 and that s why year to year processes are supervised by own qualified TQM auditors. 6. Illustrations: TQM Qualification of PS Coaching Vision As you see in the following model, coaching Mission of the company matches to PS s Mission. Vision Mission Strategy Action 12

13 PS keeps their To be the most Continuous Survey about market leader recognized regional development by employees coaching position in the service provider on on/off the job needs and attitude Hungarian Central Europe s trainings, mentoring outsourcing market. business process system and coaching. outsourcing market. Changes in Compensation and Benefit system to reward developing leadership skills. To develop Changes in employees recruitment professional process. (Focus on knowledge. Coaching competencies). Changes in Appraisal System (Focus on Coaching competencies). PS contributes their To combine Client Orientation Survey about Clients Clients organization excellent, reliable and coaching needs and developing. up-to-date services attitude. with the provision of flexible, creative and quick solutions. 7. Illustration: Coaching Process Vision of PS Needs According to the PS headcount table 51 seniors work for PS. Based on the Survey and yearly Appraisal System I suppose, that approximately 20% of them need, ca 10 people need a coaching every half year in 40 hours. The following financial plan supports, that in long term the coaches training inside the company is more profitable like buying these coaching hours from the training market. HUF Costs Need (seniors) Hours/ halfyear Costs Comment Outside Coaching Extra Costs 13

14 Inside Coaching Fix Costs 8. Illustration: Comparison of In- and Outside coaching hours costs Introduction of coaching process bring positive change to the organization like the following: satisfaction satisfaction Effectiveness Marketing Strategy Developing leadership skills Increasing employee Decreasing fluctuation Improving Client s Going up Organization Growing turnover Before starting the Introduction of coaching process it s very important to make a complete survey on employee s needs. You will see the project plan below: Senior meeting By a senior meeting all the stakeholders can be informed about the new strategy of the company. They can ask their questions, and they could be persuade about the management engagement on the organization changes. Questionnaire After first communication every stakeholders get a Questionnaire by . It helps by: describing the potential competencies of Inside coaches segmenting seniors into three different groups by attitude to coaching (Supporters, Neutrals, Opponents) Preparation of an Inside Persuasion Plan to communicate the organization change Supporters need only Information by meetings. Neutrals will play an important role in building up the coaching process of the company. 14

15 Opponents need the most attention to persuade them about the advantages of coaching. By Personal Interviews could we map all the expectations and threats to coaching process. Selection of Coaches Training of Coaches by Entre-coach training material Coaching Agreements Starting of the Coaching process 15

16 Timetable Senior meeting Sending out Questionniares to the Seniors Summary of Questionniares Meeting X SEPT 12 X 13 X 14 X 15 X 16 X 19 X 20 X 21 X 22 X 23 X X 16

17 Interviews with Neutrals and Opponents Preparation of Inside Persuation Plan 3 X 4 X 5 X 6 X 7 X 10 X 11 X 12 X 13 X 14 X OCT 17 X 18 X 19 X 20 X 21 X 24 X 25 X 26 X 27 X 28 X 31 17

18 Meeting Selection of Coaches CoachingTraining X 7 X 8 X 9 X 10 X 11 X NOV 14 X 15 X 16 X 17 X 18 X X 29 X 30 X 18

19 1 X 2 X CoachingTraining Agreements between Coaches Coachees Starting the Coaching Process 5 X 6 X 7 X 8 X 9 X DEC 12 X 13 X 14 X 15 X 16 X

20 Starting the Coaching Process X 10 X 11 X 12 X 13 X JAN 16 X 17 X 18 X 19 X 20 X 23 X 24 X 25 X 26 X 27 X 30 X 9. Illustration: Timetable of Coaching process Introduction Next steps As you see the Return Plan below expected in one year PS plans to provide coaching services for their existing Clients. The aim is to make in the next year enough profit to cover all the costs of working hours what the employees spend on coaching and in the further year to make 10% profit. 20

21 HUF Average Wage per hour Number of stakeholders Working hours Costs Sold Coaching Hours Service fee per hour Income Introduction of coaching process First Halfyear Inside coaching Second Halfyear Inside coaching Marketing of coaching service for Clients Third Halfyear Inside coaching Marketing of coaching service for Clients Fourh Halfyear Inside coaching SUM Illustration: Financial Plan i Illustrations: 1. PS Headcount 2011 June 2. PS Organization Structure 3. PS Organization Job Sharing 4. PEST 5.SWOT 6. TQM Qualification of PS 7. Coaching Process Vision of PS 8. Comparison of In- and Outside coaching hours costs 9. Timetable of Coaching process Introduction 10. Financial Plan 21