Building a better off Britain report recommends Sharing in Growth
CBI has launched a new report, Building a Better Off Britain, at its flagship Annual Conference in London. It outlines a business blueprint for an economy where growth benefits all.
One of the key recommendations is for improvements in productivity and the need to improve management practices in manufacturing firms. The report cites Sharing in Growth as an example of what can be achieved in supply chain companies.
The report says:
Sharing in Growth is an innovative and ambitious £120 million programme to raise the capability of approximately 40 firms in the UK’s aerospace supply chain, so that they can share in the anticipated growth of this global market. The programme was created in 2013 with £50 million from the Regional Growth Fund. It provides intensive, high-impact training to ambitious companies that have the potential to grow their businesses and compete internationally.
Each of the 40 participating companies undertakes a bespoke £3 million programme to assess current strengths and weaknesses, and equip managers and workers alike with the skills they need in order to update and expand their operations. The initiative has brought together a team of over 100 people, drawn from the aerospace industry, specialist training firms, resource specialists and technology-focused research institutes. Each provides expertise in leadership and key business processes, such as strategy, supply management, value improvement, finance, manufacturing capability and lean operations.
The programme aims to address the root causes of competitive disadvantage, whether this is on the basis of cost, product quality or delivery. A typical programme is expected to last for four years. During the first three months participants undergo a full ‘diagnostic’ review of their business: its demand and supply relationships, cost competitiveness, performance, management skills and financial strength. This is coupled with leadership training and business strategy workshops, culminating in agreement on a road map to address barriers to growth. The majority of the training is then delivered in years one and two, while years three and four focus on sustaining and embedding the improvements in skills and capability, with support from industry specialists.