Pacific Steel & Recycling Case Study

Pacific Steel and Recycling is over 100 years old. Over the years, it has grown from a one-store family operation to an employee-owned enterprise with 37 offices and more than 600 employees.

Pacific Steel has been successful and growth projections were good. However, the concern among insightful company leaders was the future direction of the company. With no formal strategic plan for more than a decade and little buy-in to a mission and vision that had been ignored over time, the future stability and growth of the company, as well as future leadership were a priority. “How we have always done it” was not a good enough plan for the future.

 

Pacific Steel first asked Price Associates to come aboard when it became clear that 50% of upper level management would be retiring in five years and little had been done to prepare for future leadership. It was during the process of developing a succession management plan that it became obvious a cohesive strategic plan was needed to provide a clear pathway for the future.

Ron Price began working with the Pacific Steel and Recycling corporate leadership team to create a strategic plan in June of 2006. The process began by getting to the heart of the issue: What mattered most about the company? What kept people working there and customers coming back? Where did this employee-owned company want to be in the future? Over the course of six months, Price worked with the team to establish a mission and values that captured the heart of the company and had buy-in from the Pacific Steel and Recycling employee family. From this base, analysis and research could be performed, goals and objectives could be set and a full strategic plan created.

In December 2006, the complete strategic plan was approved by Pacific Steel and Recycling leadership team, followed with approval by the Board of Directors in January 2007. Price Associates will continue to work with Pacific Steel throughout 2007 to facilitate implementation of the plan. With endorsement from the top down, all systems are “go” for a great future.

Price has great respect for the Pacific Steel team, “As I worked with these leaders from start to finish, they put their heart into the process. Their willingness to build on over 100 years of experience while moving forward into this new century, to consider the hard questions, and do the work to develop a detailed plan has left a lasting legacy for the future company leaders. I see greatness ahead for the Pacific Steel and Recycling family.”