MYCO News 9-14-2000 (COMTEX) B: MYCOM Leverages Breadth to Accelerate Growth B: MYCOM Leverages Breadth to Accelerate Growth
CINCINNATI, Sep 14, 2000 (BUSINESS WIRE) -- MYCOM Group, Inc. (OTCBB:MYCO) today announced plans for far-reaching changes to its organization structure, work processes, culture and reward structure to accelerate the company's growth. The changes are designed to drive bigger stretch goals and plans for its realigned business units, breakthrough product innovations and a search for acquisition and merger candidates.
MYCOM Group CEO George Young said the key to faster growth is leveraging the company's breadth of products and services. "We intend to generate growth that benefits our shareholders by increasing our capability to create and build large, profitable business units," he said.
Young said that the initiative, called the Diamond Strategy, has four key elements, which connect all facets of MYCOM's business:
-- Organizational Development - MYCOM will operate in several business units, leveraging its breadth and management depth by centering market strategy and profit responsibility on the leaders of each group.
-- Market Development - MYCOM intends to establish Market Development Organization (MDO) regions throughout North America to maximize the growth potential of the company's entire portfolio in key markets.
-- Product Development - the newly created Product Development Group is looking at more than 100 e-business applications created by MYCOM to determine which can be re-packaged and sold to vertical markets.
-- Strategic Development - MYCOM is already exploring relationships with companies whose technologies and products could add important dimensions to its business.
"Young highlighted the new business units - including e-commerce consulting, interactive marketing, instructional design and training, and product development - as examples of how MYCOM makes connections across businesses to create real advantages. MYCOM's growing and successful Advertising business, now operating as a subsidiary of MYCOM Group, would get increased investment and support under the leadership of MYCOM President Joan Carroll.
"We're evolving from supplier to business partner to our clients, which is an advantage that comes from breadth that is focused on growth," Young added. "We've been headed in the direction of operating as business units for many years, and the changes we're making will now enable us to fulfill this goal."
Young concluded, "We're looking to the future - not just imagining what's next, but creating it. That's what drives my confidence in the accelerated growth of MYCOM."
About MYCOM Group
MYCOM Group provides end-to-end marketing, e-commerce and web solutions through a complementary mix of services for large businesses and organizations, serving an e-business market that industry analysts project is growing at more than 50% per year. MYCOM was formed in 1991 to provide technical marketing and documentation services. The company evolved to meet the changing needs of its clients by developing capabilities in applications development, web-enabled applications, database applications, corporate portals, online training, instructional design and other e-business solutions. MYCOM is on the web at www.mycom.com
NOTE: Certain statements in this press release, including but not limited to growth projections, may constitute "forward-looking statements" which are subject to known and unknown risks and uncertainties. Those risks and uncertainties include, among others, economic conditions, competition, availability of financing and other factors that may cause the actual results to differ materially from results implied by such forward-looking statements.
CONTACT: MYCOM Group, Inc. Wayne Buckhout, 513/352-5560 ext. 190 wbuckhout@mycom.com
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KEYWORD: OHIO INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET E-COMMERCE
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