O’Keeffe at NFDA: 8 Stages of the Company Lifecycle
December 08
11:54
2016
“See the road ahead,” Tim O’Keeffe advised the National Fastener Distributors Association in a presentation on the lifecycle of companies.
A company’s spot in a lifecycle is not based on age, sales, assets or employee headcount, and each stage has its advantages and problems, O’Keeffe said.
Problems are normal and it is not a leader’s role to prevent problems, but to focus on the organization recognizing and resolving problem, the owner of fastener manufacturer G.L. Huyett advised the NFDA.O’Keeffe quoted Dr. Ichak Adizes, author of Managing Corporate Lifecycles: “The same methods that produce success in one stage, can lead to failure in the next.”
Stages of the company lifecycle are Courtship, Infancy, Adolescence, Prime, Stability, Aristocracy, Early Bureaucracy and Bureaucracy.
O’Keeffe, a business broker before acquiring fastener manufacturer G.L. Huyett in 1992, described Huyett as being in the adolescence phase.
Huyett was founded in 1899 by German immigrant Guy Lamson Huyett. Upon acquiring G.L. Huyett, Tim and Carol O’Keeffe said adolescence can be a good place for a company. “Do not assume Prime is where you want or need to be,” he said.
For more on each stage, FIN Subscribers can CLICK HERE.
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