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Hugh MasonHugh MasonHugh MasonHugh Mason
Partner, Pembridge Partners LLPPartner, Pembridge Partners LLPPartner, Pembridge ...
Coming UpComing UpComing UpComing Up
• Pembridge has worked with over 2,000 Creative SMEs in
the UK, Singapore and Netherl...
Introducing PembridgeIntroducing PembridgeIntroducing PembridgeIntroducing Pembridge
Founded 2001Founded 2001Founded 2001F...
The Knowledge EconomyThe Knowledge EconomyThe Knowledge EconomyThe Knowledge Economy
ArtArtArtArtScienceScienceScienceScie...
The Knowledge EconomyThe Knowledge EconomyThe Knowledge EconomyThe Knowledge Economy
ArtArtArtArt
€
Aesthetic I.P.Technica...
One model of value chains in the sectorOne model of value chains in the sectorOne model of value chains in the sectorOne m...
CreativeCreativeCreativeCreative SMEsSMEsSMEsSMEs say they want to growsay they want to growsay they want to growsay they ...
Similar issues across cultures and subSimilar issues across cultures and subSimilar issues across cultures and subSimilar ...
MostMostMostMost SMEsSMEsSMEsSMEs get stuck trying to growget stuck trying to growget stuck trying to growget stuck trying...
No - no
goal set
£0 -
£500k
£500K -
£1m
£1m -
£5m
£5m
plus
No timescale
Less than 3y rs
3-4yrs time
4-5y rs time
5-6yrs ti...
It all depends on what you mean byIt all depends on what you mean byIt all depends on what you mean byIt all depends on wh...
Doing great workDoing great workDoing great workDoing great work
Cultural WealthCultural WealthCultural WealthCultural Wea...
Challenges for public sector agenciesChallenges for public sector agenciesChallenges for public sector agenciesChallenges ...
Maturity
High
Medium
Low
Micro Small Medium Large
Size
A model of SME growthA model of SME growthA model of SME growthA mo...
An evidenceAn evidenceAn evidenceAn evidence----based approach to manage growthbased approach to manage growthbased approa...
SMEsSMEsSMEsSMEs at different stages need different helpat different stages need different helpat different stages need di...
Some possible interventions to helpSome possible interventions to helpSome possible interventions to helpSome possible int...
VineyardVineyardVineyardVineyard ---- InspiringInspiringInspiringInspiring SMEsSMEsSMEsSMEs to try harderto try harderto t...
Bonus Slides!Bonus Slides!Bonus Slides!Bonus Slides!
• How Vital Statistics Works
• Pembridge Public Sector partners world...
HowHowHowHow Vital StatisticsVital StatisticsVital StatisticsVital Statistics worksworksworksworks
20 minute20 minute20 mi...
Pembridge Public Sector Partners worldwidePembridge Public Sector Partners worldwidePembridge Public Sector Partners world...
Strategic planning for HighStrategic planning for HighStrategic planning for HighStrategic planning for High----GrowthGrow...
Level 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / pre----startstartstar...
Level 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / pre----startstartstar...
Level 1: ArtisansLevel 1: ArtisansLevel 1: ArtisansLevel 1: Artisans
Clubs
Level 2
Artisans
Level 1
Freelancers
/ pre-star...
Level 1: ArtisansLevel 1: ArtisansLevel 1: ArtisansLevel 1: Artisans
• 1-5 freelancers sharing space/resources
• It’s a ha...
Level 2: ClubsLevel 2: ClubsLevel 2: ClubsLevel 2: Clubs
Clubs
Level 2
Artisans
Level 1
Freelancers
/ pre-start-up
Level 0...
Level 2: ClubsLevel 2: ClubsLevel 2: ClubsLevel 2: Clubs
• Distinguished by have employees, but stalled/low growth – lifes...
Level 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value Creators
Clubs
Level 2
Artisans
Level ...
Level 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value Creators
• Have the ambition and prepa...
Level 4: Value GrowersLevel 4: Value GrowersLevel 4: Value GrowersLevel 4: Value Growers
Clubs
Level 2
Artisans
Level 1
Fr...
Level 4: Value GrowersLevel 4: Value GrowersLevel 4: Value GrowersLevel 4: Value Growers
• Management team knows the numbe...
Level 5: ValueLevel 5: ValueLevel 5: ValueLevel 5: Value RealisorsRealisorsRealisorsRealisors
Clubs
Level 2
Artisans
Level...
Level 5: ValueLevel 5: ValueLevel 5: ValueLevel 5: Value RealisorsRealisorsRealisorsRealisors
• Established Business Model...
Level 6: AcquirersLevel 6: AcquirersLevel 6: AcquirersLevel 6: Acquirers
Clubs
Level 2
Artisans
Level 1
Freelancers
/ pre-...
Level 6: AcquirersLevel 6: AcquirersLevel 6: AcquirersLevel 6: Acquirers
• Mature firms confident about their sustainabili...
Level 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public Companies
Clubs
Level 2
Artisan...
Level 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public Companies
• Major skills develo...
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How Creative SMEs grow - Modelling and measuring the lifecycle of growing businesses

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Pembridge has worked with over 2,000 Creative SMEs in the UK, Singapore and Netherlands. A model for SME growth has emerged: SMEs seem to grow, or get stuck at, a series of distinct stages. It is possible to help SMEs that are genuinely motivated to grow to move through these stages quicker, and with greater confidence, than they could do on their own. It is possible to measure and predict the progress of SMEs objectively and so to allocate economic development resources rationally, on the basis of evidence.

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How Creative SMEs grow - Modelling and measuring the lifecycle of growing businesses

  1. 1. Hugh MasonHugh MasonHugh MasonHugh Mason Partner, Pembridge Partners LLPPartner, Pembridge Partners LLPPartner, Pembridge Partners LLPPartner, Pembridge Partners LLP www.pembridge.netwww.pembridge.netwww.pembridge.netwww.pembridge.net How CreativeHow CreativeHow CreativeHow Creative SMEsSMEsSMEsSMEs growgrowgrowgrow Modelling and measuring the lifecycle of growing businessesModelling and measuring the lifecycle of growing businessesModelling and measuring the lifecycle of growing businessesModelling and measuring the lifecycle of growing businesses Stockholm, 22 SEP 2008Stockholm, 22 SEP 2008Stockholm, 22 SEP 2008Stockholm, 22 SEP 2008
  2. 2. Coming UpComing UpComing UpComing Up • Pembridge has worked with over 2,000 Creative SMEs in the UK, Singapore and Netherlands. • A model for SME growth has emerged: SMEs seem to grow, or get stuck at, a series of distinct stages. • It is possible to help SMEs that are genuinely motivated to grow to move through these stages quicker, and with greater confidence, than they could do on their own. • It is possible to measure and predict the progress of SMEs objectively and so to allocate economic development resources rationally, on the basis of evidence.
  3. 3. Introducing PembridgeIntroducing PembridgeIntroducing PembridgeIntroducing Pembridge Founded 2001Founded 2001Founded 2001Founded 2001 to help owner-managers of creative businesses to build and release value in their businesses. We help someone become a millionaire every 4-8 weeks. In total: five partnersIn total: five partnersIn total: five partnersIn total: five partners + eight staff + 20 regional associates. People who have ‘been there before’ in Music, marketing services, TV, Film, Design … €30m+ raised or invested30m+ raised or invested30m+ raised or invested30m+ raised or invested, 50 current engagements across Creative Industries Active in Singapore, UK, NetherlandsActive in Singapore, UK, NetherlandsActive in Singapore, UK, NetherlandsActive in Singapore, UK, Netherlands 2,000+ SMEs engaged
  4. 4. The Knowledge EconomyThe Knowledge EconomyThe Knowledge EconomyThe Knowledge Economy ArtArtArtArtScienceScienceScienceScience € Products & Services CultureResearch Development Creative Industry
  5. 5. The Knowledge EconomyThe Knowledge EconomyThe Knowledge EconomyThe Knowledge Economy ArtArtArtArt € Aesthetic I.P.Technical I.P. ItItItIt’’’’s all about Intellectual Propertys all about Intellectual Propertys all about Intellectual Propertys all about Intellectual Property ScienceScienceScienceScience
  6. 6. One model of value chains in the sectorOne model of value chains in the sectorOne model of value chains in the sectorOne model of value chains in the sector Agencies Brand Owners Non-media Products / Services Producers Developers Publishers Broadcasters Aggregators Media Products Events Firms Musicians Performance Venue Operators Tangible Experiences Designers Makers Retaliers Distributors Tangible Products Consumers Creative Services Firms Eg PR, Ad, DM, Design Content Companies, Eg TV, Film, Games, Online, Print Created Experiences, Eg Exhibition, Galleries, Poss Sports ‘Original’ products Eg Artisans, Fashion, Jewellery
  7. 7. CreativeCreativeCreativeCreative SMEsSMEsSMEsSMEs say they want to growsay they want to growsay they want to growsay they want to grow …………
  8. 8. Similar issues across cultures and subSimilar issues across cultures and subSimilar issues across cultures and subSimilar issues across cultures and sub----sectorssectorssectorssectors
  9. 9. MostMostMostMost SMEsSMEsSMEsSMEs get stuck trying to growget stuck trying to growget stuck trying to growget stuck trying to grow Unwilling to answer Don't know £5m - £50m £2m - £4.99m £500,000 - £1.99m £250,000 - £499,999 £100,000 - £249,999 £60,000 - £99,999 £30,000 - £59,999 £10,000 - £29,999 Less than £10,000 turnbanding 100 80 60 40 20 0 Turnover BandTurnover BandTurnover BandTurnover Band NumberofNumberofNumberofNumberofSMEsSMEsSMEsSMEs
  10. 10. No - no goal set £0 - £500k £500K - £1m £1m - £5m £5m plus No timescale Less than 3y rs 3-4yrs time 4-5y rs time 5-6yrs time 0 5 10 15 20 25 30 35 No.ofFirms Why? MostWhy? MostWhy? MostWhy? Most SMEsSMEsSMEsSMEs dondondondon’’’’t reallyt reallyt reallyt really wantwantwantwant to grow!to grow!to grow!to grow! Inconvenient TruthInconvenient TruthInconvenient TruthInconvenient Truth: Most Creative Industries SMEs do not seem to have commercial growth goals. Eg … in this survey of North East UK film and TV firms, >80% explicitly said they have no commercial goal. They are simply not on the economic development agenda. They are motivated by social-or cultural wealth building.
  11. 11. It all depends on what you mean byIt all depends on what you mean byIt all depends on what you mean byIt all depends on what you mean by ‘‘‘‘growthgrowthgrowthgrowth’’’’
  12. 12. Doing great workDoing great workDoing great workDoing great work Cultural WealthCultural WealthCultural WealthCultural Wealth Work focus: Fine ArtistsWork focus: Fine ArtistsWork focus: Fine ArtistsWork focus: Fine Artists ………… Art will happen anyway?Art will happen anyway?Art will happen anyway?Art will happen anyway? Building a better worldBuilding a better worldBuilding a better worldBuilding a better world Social WealthSocial WealthSocial WealthSocial Wealth Workplace/World focus:Workplace/World focus:Workplace/World focus:Workplace/World focus: Social EnterpriseSocial EnterpriseSocial EnterpriseSocial Enterprise Making moneyMaking moneyMaking moneyMaking money Economic WealthEconomic WealthEconomic WealthEconomic Wealth Growth focusGrowth focusGrowth focusGrowth focus Perhaps 5% of firmsPerhaps 5% of firmsPerhaps 5% of firmsPerhaps 5% of firms We must be clear about the real agenda!We must be clear about the real agenda!We must be clear about the real agenda!We must be clear about the real agenda!
  13. 13. Challenges for public sector agenciesChallenges for public sector agenciesChallenges for public sector agenciesChallenges for public sector agencies • Is the priority cultural, social or economic? • How to identify which SMEs are going to deliver hard economic outputs? • How to use that insight to allocate company development resources fairly and effectively? • How to accelerate SMEs with the strongest commercial potential to achieve fast, visible, concrete commercial success? • How to provide cost-effective, positive individual feedback to weaker SMEs? • How to create a decision audit trail and measure the impact objectively?
  14. 14. Maturity High Medium Low Micro Small Medium Large Size A model of SME growthA model of SME growthA model of SME growthA model of SME growth Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  15. 15. An evidenceAn evidenceAn evidenceAn evidence----based approach to manage growthbased approach to manage growthbased approach to manage growthbased approach to manage growth Vital StatisticsVital StatisticsVital StatisticsVital Statistics Rapid, sectorRapid, sectorRapid, sectorRapid, sector---- specificspecificspecificspecific growthgrowthgrowthgrowth potentialpotentialpotentialpotential assessmentassessmentassessmentassessment forforforfor allallallall SMEsSMEsSMEsSMEs 25% are potential25% are potential25% are potential25% are potential high growth:high growth:high growth:high growth: Blitz strategicBlitz strategicBlitz strategicBlitz strategic Business PlanningBusiness PlanningBusiness PlanningBusiness Planning for thesefor thesefor thesefor these InvestmentInvestmentInvestmentInvestment (1% of firms)(1% of firms)(1% of firms)(1% of firms) 75% of firms need help75% of firms need help75% of firms need help75% of firms need help with basic issues.with basic issues.with basic issues.with basic issues. ExistingExistingExistingExisting SupportSupportSupportSupport orgs serviceorgs serviceorgs serviceorgs service them. Vital Statsthem. Vital Statsthem. Vital Statsthem. Vital Stats data helps identifydata helps identifydata helps identifydata helps identify specific needsspecific needsspecific needsspecific needs
  16. 16. SMEsSMEsSMEsSMEs at different stages need different helpat different stages need different helpat different stages need different helpat different stages need different help Market Awareness 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% <= 0 > 0 to 10> 10 to 20> 20 to 30> 30 to 40> 40 to 50> 50 to 60> 60 to 70> 70 to 80> 80 to 90> 90 to 100 > 100 Lower Quartile Upper Quartile
  17. 17. Some possible interventions to helpSome possible interventions to helpSome possible interventions to helpSome possible interventions to help SMEsSMEsSMEsSMEs growgrowgrowgrow • One-on-one mentoring • Surgeries • Phone-based mentoring • Workshops • Know-how sharing lunches • Cluster group events 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% <= 0 > 0 to 10> 10 to 20> 20 to 30> 30 to 40> 40 to 50> 50 to 60> 60 to 70> 70 to 80> 80 to 90> 90 to 100 > 100 Lower Quartile Upper Quartile
  18. 18. VineyardVineyardVineyardVineyard ---- InspiringInspiringInspiringInspiring SMEsSMEsSMEsSMEs to try harderto try harderto try harderto try harder
  19. 19. Bonus Slides!Bonus Slides!Bonus Slides!Bonus Slides! • How Vital Statistics Works • Pembridge Public Sector partners worldwide • Strategic planning for high-growth SMEs • Detail on SME growth stages • For more information, please contact: hugh.mason@pembridge.net www.pembridge.net +44 8452 600 344
  20. 20. HowHowHowHow Vital StatisticsVital StatisticsVital StatisticsVital Statistics worksworksworksworks 20 minute20 minute20 minute20 minute computercomputercomputercomputer---- assistedassistedassistedassisted phonephonephonephone interviewinterviewinterviewinterview SMESMESMESME’’’’ssss last 2last 2last 2last 2 yearsyearsyearsyears’’’’ accountsaccountsaccountsaccounts VS data centreVS data centreVS data centreVS data centre ProfileProfileProfileProfile eeee----mailedmailedmailedmailed to SMEto SMEto SMEto SME Profile /Profile /Profile /Profile / consultantconsultantconsultantconsultant briefingbriefingbriefingbriefing VS databaseVS databaseVS databaseVS database 10,000+10,000+10,000+10,000+ SMEsSMEsSMEsSMEs Creative SME
  21. 21. Pembridge Public Sector Partners worldwidePembridge Public Sector Partners worldwidePembridge Public Sector Partners worldwidePembridge Public Sector Partners worldwide • Screen Yorkshire • NESTA • Media Training North West • North West Vision • Skillset • Northern Film and Media • Business Link for London • Skillset South East • Film London • Cheshire And Warrington Creative Industries Network • DCMS • South West Screen • Digital Central • Singapore Media Development Authority • WestmARC • University of Utrecht • CIDA Huddersfield • Creative Lancashire • Birmingham City University • Artsmatrix • G2i • NSTAR Design and Creative Fund Coming up:Coming up:Coming up:Coming up: • New Zealand Trade & Enterprise • SIPA, Thailand
  22. 22. Strategic planning for HighStrategic planning for HighStrategic planning for HighStrategic planning for High----GrowthGrowthGrowthGrowth SMEsSMEsSMEsSMEs PERSONAL GOALS •Why are you doing what you do? •What’s your idea of success? •How much risk/certainty? CURRENT POSITION •Where is the firm now? •What makes it special? •How is it selling itself? FUTURE SCENARIOS •What credible futures might be possible? •What would the pros and cons of each be? •What would it take to make each one real? SETTING THE FIRM’S GOAL •Which scenario offers the best match to the team’s personal goals? VISUALISE THE PLAN •Create snapshots of the firm’s future projects, money and people for each quarter over the next 3-5 years. MAKING IT REAL •Identify the partners and resources needed to make the plan real. •Commit to execution.
  23. 23. Level 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / pre----startstartstartstart----upupupup Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  24. 24. Level 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / preLevel 0: Freelancers / pre----startstartstartstart----upupupup • Requirement for basic business skills development, technical and creative skills, but key also to inspire entrepreneurial attitude alongside skills. • History shows it’s virtually impossible to spot winners at this stage but essential to do work here to feed the pipeline • Danger of delivering numbers, not quality if you focus exclusively or too much on this group • Mentoring can be appropriate here but doing it one-on-one is expensive. Group-based mentoring and peer-mentoring can be very effective. Cluster groups are an effective delivery channel
  25. 25. Level 1: ArtisansLevel 1: ArtisansLevel 1: ArtisansLevel 1: Artisans Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  26. 26. Level 1: ArtisansLevel 1: ArtisansLevel 1: ArtisansLevel 1: Artisans • 1-5 freelancers sharing space/resources • It’s a happy bonus to be paid: the focus is on work, not money. No ‘equity value’ being built as no structure • Participants have yet to make the real commitment to each other and employees to grow something larger than themselves. Hard to add value until they decide to commit. • The same kind of mentoring and skills development as is appropriate at Level 0 can be appropriate here and, drawing on the medieval model of apprenticeship, Master Artistans may be very well placed to mentor those entering the profession at the next level below them through peer-to-peer mentoring.
  27. 27. Level 2: ClubsLevel 2: ClubsLevel 2: ClubsLevel 2: Clubs Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  28. 28. Level 2: ClubsLevel 2: ClubsLevel 2: ClubsLevel 2: Clubs • Distinguished by have employees, but stalled/low growth – lifestyle focus - a model that won’t scale • Little / no process even if great work. Owners still work IN the business, not ON it • These SMEs prevaricate about the future, worried about taking risks of growth, especially about losing their culture • Can be inspired through role models, cluster groups, or an investment readiness program can help an SME bypass this stage altogether. • The management team of an SME seeking to grow beyond this stage needs intensive mentoring to feel confident to take the significant risks involved in growing to become a business that builds value in the business that is bigger than the people who founded it.
  29. 29. Level 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value Creators Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  30. 30. Level 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value CreatorsLevel 3: Value Creators • Have the ambition and prepared to take the actions required to grow • Starting to understand Process and to use advisers appropriately. Make Decisions, eg Will Fire A Client • Founders have made a crucial transition: they have decided to work ON the business, not IN it. • Typically this is the stage at which SMEs first try to write a proper business plan, something they almost always need mentoring help to do as it’s so difficult to tell your own story in isolation. • Many SMEs falter at this stage because the culture of the business and the role of the key individuals in it change so profoundly. Very rare for companies to make the transition from Club to Value Creator without mentoring.
  31. 31. Level 4: Value GrowersLevel 4: Value GrowersLevel 4: Value GrowersLevel 4: Value Growers Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  32. 32. Level 4: Value GrowersLevel 4: Value GrowersLevel 4: Value GrowersLevel 4: Value Growers • Management team knows the numbers • Owners less hands-on with Clients • Innovation Happens • The cultural and personal/professional changes involved in becoming a value-creating business typically take a year or so to bed down, even with support from a mentor • At first, new skills are needed for an SME to put in place systems (accounting, sales, HR, etc). • Focus then shifts to growing value. Mentoring from an individual with the strategic vision to help the management team understand big picture is critical.
  33. 33. Level 5: ValueLevel 5: ValueLevel 5: ValueLevel 5: Value RealisorsRealisorsRealisorsRealisors Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  34. 34. Level 5: ValueLevel 5: ValueLevel 5: ValueLevel 5: Value RealisorsRealisorsRealisorsRealisors • Established Business Model • Single Focus for management team – the end game • Support requirement is for mentoring to understand a series of business issues that take them beyond the day to day issues of trading and running a business into areas such as corporate finance, mergers and acquisition, or fund-raising. • External legal advice and wealth management mentoring becomes relevant too. • Further down the management structure there is need to put in place skills auditing, training programmes, formalised job skills descriptions etc.
  35. 35. Level 6: AcquirersLevel 6: AcquirersLevel 6: AcquirersLevel 6: Acquirers Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  36. 36. Level 6: AcquirersLevel 6: AcquirersLevel 6: AcquirersLevel 6: Acquirers • Mature firms confident about their sustainability • Board concerned with big picture strategy, not tactics • Major employers, rocks in the economy, trainers for industry (whether they like losing employees to competitors or not!) • In such a business, typically the people at the heart of the business must themselves become mentors, guiding the management teams of the companies they acquire. Learning mentoring skills is a new requirement for CPD at the top level
  37. 37. Level 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public Companies Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  38. 38. Level 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public CompaniesLevel 7: Public Companies • Major skills development factories for industry through formalised skills development structures, links with Higher Education etc • Businesses at this level have the resources (and the need) to take a strategic interest in Skills Development and have fully-resourced HR departments • The management teams of public companies typically employ mentors at many levels to coach their staff. • At the most senior level, management consultants and/or non-executive directors may provide executive mentoring.

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