SUPERVISORY BOARD
To keep full control over the management of the subsidiary or our common joint venture, we usually install a Supervisory Board.
This committee, consisting of one ore more representatives of you and us, ensures compliance with the competencies of the appointed management, particularly in these areas:
• Regularity
• Legality
• Legality
• Adherence to the defined corporate strategy
• Compliance with company policy (Code of Conduct)
• Personnel policy
• Investments
• Information handling and communication
• Goal achievement and controlling
• Personnel policy
• Investments
• Information handling and communication
• Goal achievement and controlling
• Decisions (approval or denial) about business cases which are not regulated by the management contracts
Additionally, the Supervisory Board advises the management and supports the decision-making, particularly by taking the articles of association and management contracts into account.
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ADMINISTRATION
Especially the first period of a company implies a lot of challenges to the administration.
Therefore, we undertake all administration work together with our specialists like
• accountants
• tax consultants
• lawyers
• customs broker
• and others
until the subsidiary or joint venture company is able to do it by itself.
ANALYSIS
During the regular business operation, we do continuous analysis of the subsidiary or the common joint venture to keep the development under full control.
By evaluating internal information and using benchmarking tools these are among others:
• Financial analysis based on key figures (working capital ratio, RoI, equity ratio, dept ratio, etc.)
• Balance-sheet analysis (turnover, profit, cash flow, etc.)
• Evaluation of the marketing strategy
• Goal achievement
• Sales volume
• Warehousing situation (optimal warehouse stock, inventory turnover rate, etc.)
• Success comparison of different distribution channels
• Logistic and supply chain management (incoming and outgoing)
• Best production lot size
• Best shop stock amount
• and others, if necessary
These elementary analysis and information will be considered at all meetings of the supervisory board.
CONTROLLING
Beside the financial analyses our controlling specialists take care about the following exceptional topics:
Based on the results of accounting and cost and performance accounting, further analyses are created and action recommendations for the management are determined.
• Monitoring of the cost centre and cost object accounting
• Budget planning (for projects and/or departments)
• Budget setting
• Budget monitoring
• Monitoring of the cost structure
• Monitoring of the purchase prices
• Investment planning
• Calculation and pricing
TARGETS
To realize a successful strategy it is necessary to have ambitious but realistic targets.
This can be financial targets like return on capital, turnover, profit or margin, and also marketing targets as better sales figures, improvement of image or higher awareness level.
After the subsidiary or our Joint Venture has been founded, we use a constant process to check the goals for their achievability and adjust them, if necessary.
R & D
Having permanent an eye and an ear on the market is the key factor for sustainable development and growth in the future.
Therefore, our R&D specialists check the products, the sale system and the service regarding their sustainability and concerning to the current market situation as well as customer needs. This enables us to improve quality continually, develop new products and adapt the whole marketing-mix.
STRATEGY ADJUSMENT
As result of all these analyses and collected information the strategy of the subsidiary or our common Joint Venture has to be adapted concerning to new market situations and different customer needs.
That does not mean that everything will be changed every day, but in a long term vision each modern company must make adjustments as permanent process to keep and increase its market share.
Together we can reach this all and create a successful and sustainable future.