Business and Financial Consulting, Cashflow Management | Global Management Solutions, Inc.
(Greenwich, CT)
Hovey is a principal in Global Management Solutions, Inc., a consulting firm specializing in helping organizations improve their operations and shareowner value in a competitive environment. He and his firm are, in essence, focused on business success. Hovey graduated from Brown University as a mathematics major, served as an officer in the U.S. Navy, graduated from General Electric’s prestigious three-year Financial Management Program, and enjoyed a twenty-seven year career at GE.
Hovey offers companies a copyrighted cash flow program that has been used in more than eighteen large corporations, including Textron, Honeywell, Northrop Grumman, Cargill, British Aerospace, and Cooper Industries. With a track record suggesting $1 million in cash flow improvement for each class of twenty participants, these results typically lead to significant enhancements in shareowner value.
He participated in the development of General Electric’s strategic planning process and was responsible for GE’s planning and development activities in Middle East and Africa, contributing to GE’s international business expansion. He has also developed strategic business plans for several other businesses, including non-profits.
Hovey has developed an excellent reputation for performing business and financial analyses, leading to improved strategies and supporting programs and tactics, thus providing clients with a competitive edge. He has developed a methodology for prioritizing activities by mathematically matching resources with an organization’s strengths and weaknesses.
With respect to international activities, Hovey has traveled to some seventy countries, mostly on business, and lived in London, England for four years while working for GE. He also develop[ed strategic and financial recommendations, based on balancing opportunities and risks, for GE’s participation in Western Europe, Philippines, Nigeria, East Asia and Southeast Asia, leading to broader and more profitable international participation by GE.
Hovey believes that the key to analyzing business situations is to be creative in measuring progress; evaluating traditional results such as sales, margins and earnings is usually insufficient. A business also needs to keep an eye on statistics such as aging of receivables, Inventory turnover, market share, productivity, and cash flow, plus a “thousand” others. Spreadsheets can be extremely useful in organizing quantitative information and asking and answering “what if …” questions and Hovey has significant experience in this area.
Hovey has worked for both large companies and small companies, as well as having been associated with five different consulting firms. He has also been Chief Financial Officer of three small companies. |
