Case Study : Return National Tour Operator to Profitability
A thirty year-old well regarded tour operator had been sustaining substantial financial losses as a result of the economic downturn. The company needed strategic direction, more disciplined financial reporting and management development. Kellogg was hired by the stockholders to access the prospects for the company, as well as to serve as part-time interim CEO. During a six month period, the company went from sustaining substantial financial losses to profitability. This was accomplished by:
- Substantial improvement in both historical financial reporting as well as implementation of a robust budgeting process.
- Establishing a disciplined decision-making process that was based on financial metrics.
- Development of a Management Team that can carry the company forward successfully.
- This was accomplished while keeping overhead levels under tight control.
