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If your operations are to succeed, and remain successful, the challenge is in managing what is effectively a "mini-conglomerate." Not only are your principal factories or plants - as well as all of the people who work there - involved. You more than likely run separate warehousing facilities, maintain any number of other buildings in several locations, perhaps utilize a fleet of trucks and constantly deal with complicated labor relations, usually with several different unions. Undoubtedly, you face constant customer pressures, distributional challenges including the cost of transportation, experience severe competition (possibly international as well as domestic) and with all of that, there is the need to remain thoroughly competitive and profitable, whether it be for your ownership, a board of directors or a group of shareholders. You probably have to make important self-insurance decisions as well as protecting your operations with effective commercial coverage. How far should you go (or not go) in investing in new equipment? What are your expansion opportunities? Do you grow from within, or consider purchasing a competitor? Bottom line, successful "conglomerates" get expert advice on a continuing basis. IM teams regularly provide such counsel, as well as crucial "second opinions."
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