Bain’s focus was to collaborate with the company team to help fix root cause issues. Together, we looked at the broad cross-functional picture as well as specific functions. The end goal was for the company to spend what it needed—but not more—in the G&A area. To that end, we started by creating a baseline of the initial situation:
- Catalogue what each function does, and where it resides.
- Assess the company’s investment stance on support functions: which needed to be best-in-class and which could simply be good or even slightly below-average?
- Analyze affordability of each function: what do activities cost compared to benchmark data, how can they be improved and what should new budget targets be?
With this information in hand, executives were in a much better position to make sustainable change.
FoodCo chose the more challenging, and unique, transformational approach for this project: