Shaker Group, a Saudi importer, manufacturer and distributor of air conditioners and home appliances, has announced the launch of its “Breakthrough Program,” a transformation plan to be implemented during 2019 and 2020.
The “Breakthrough Program” has four pillars for improving performance. The first pillar, Core Business Turnaround (CBT), will focus on achieving profitable sales while delivering excellence in cost management. The second pillar, Talent Upgrade Plan (TUP), seeks to attract and develop talent at the company while improving organizational structure and rationalizing headcount. The third pillar, Performance Infrastructure (PI), will see improvements to the processes and architecture of the business, as well as enhancing reporting methods; while the final pillar, Strategic Moves (STR), will see strengthening of relationships with principals and business partners and exploration of opportunities beyond core operations, to ensure an unparalleled value proposition to customers.
Azzam Saud Almudaiheem, chief executive officer of Shaker Group, said: “While we have faced pressure on sales revenues as a result of market challenges including increased competition, a lackluster construction sector and unfavorable seasonality, we are very pleased to be formally rolling out our Breakthrough Program, having already realized recent success in efforts to reduce operating expenses and improve efficiencies. We are confident of the positive impact we expect to see from them and I am pleased to say that our staff are fully engaged in support of the program for turning our business around.”
He added: “While we have experienced difficult years in a challenging market, the Breakthrough Program shows that we are addressing these issues head-on to achieve improved performance. We are bullish that the market for AC and home appliances shows long-term promise, which we intend to actively exploit.”
Mohammed Ibrahim Abunayyan, chief strategies and transformation officer at Shaker Group, said: “We are proud to unveil the Shaker Group Breakthrough Program, the development of which has been a key focus area for management. While the program extends through 2020, we are optimistic that material improvements in performance will be delivered.”