Private management teams

The private equity practitioners approach differs in three ways from that of a traditional corporate organization. First, they concentrate on specific metrics, second, they institutionalize change projects with a lasting impact on performance early on during the investment period, and third, they take great care over the choice of management teams. 

Second, when the financial sponsor exits the business, the joint financial success is equally measurable for the private equity investors and the management team sharing the equity participation. This is important, as it demonstrates fairness to both those who have worked hard on the financial sponsors side and those who have worked hard as responsible managers of LBOs. 

Under Mr. Khodorkovsky s leadership, YUKOS completely repaid its debts (accumulated while it was a government-owned company) to the Russian federal and regional governments. In the first year following its privatization, YUKOS received 1 billion US in loans and investments primarily due to the efforts of the company s new modem management team. 

Safety professionals working in the private sector are unique and are a breed in and of themselves. Safety professionals are often the only management team member responsible for the entire safety and health function, and thus often work alone or with a very small staff Often the management team possesses limited knowledge of... 

HAZWOPER sites are subject to the same rules and requirements as other operations. This holds true whether the site is being managed by private industry, DOE, or the Army Corps of Engineers. Identifying and implementing a project team in the early phases of the project to address health and safety issues will help to achieve seamless integration and to reduce duplication. 

Finally, the significant valuation differences between companies are likely to make some of them attractive acquisition candidates for the more successful and financially strong players in the industry. Some companies may even, on occasion, appear quite cheap. Also, private equity firms have entered the industry in force and are hkely to increase their presence, providing an enabler and catalyst for portfolio restructuring. They have access to plenty of cash (often more than the industry players themselves) and are run by very strong teams, with excellent skills in managing and improving multi-business portfohos (see Chapter 8). 

A quality improvement project team (QIPT) can be initiated due to the findings of a PAT, where it has been indicated that the process is broken. The main agenda of the QIPT is to improve the work process that managers have identified as important to change. The team studies this process methodically to find permanent solutions to problems. To do this, members can use many of the tools described in this chapter and in many other publications on quality and quality improvement available from schools, bookstores, and private organizations. 

The FLS can remind the troubled team member in a subtle, private way of alternatives that the company has to offer, such as a consultation with the human resources manager or department member. Perhaps the team member needs to be reminded of the Employee Assistance Programs (EAPs) that are typically part of many benefit packages. Keep in mind that the team member and FLS will probably have to work together whether personality conflicts or good working relationships exist or not. 

I can tell you in a hospital like this you will really need team work. We have trained everybody on inventory management. What they need to keep in terms of safety stock versus ensuring they have re order levels. (Hospital pharmacist, Kenyan private hospital)... 

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