The Answer Series
Successful restructuring for improved governance and sustainability.
The Answer Series is a family-owned educational publishing business that empowers high school learners with their comprehensive, easy-to-use study guides that are written and frequently updated by teachers, examiners and subject specialists.
The medium of publishing is changing rapidly and with it, The Answer Series needed to consider what changes were appropriate for the business, particularly in the context of the business founders and leaders not being completely up-to-speed with the digital era. On top of that, they were seeking guidance and education in terms of governance, asking, “How do we ensure that the right governance is in place for our business to make sure the succession to a second generation is much more likely to be successful?”
The Answer Series leadership team participated in Sirdar’s board-readiness diagnostic to ascertain whether they were at the right point on their journey to form a board of directors to take the business to the next level. They also explored the structure of leadership positions to get the most out of everyone’s roles.
They furthermore participated in Sirdar’s Applied Directorship Programme and had Sirdar Appoint find the ideal candidates for their board vacancies.
Structuring leadership roles within The Answer Series and understanding requirements of directors led to decreased leadership ambiguity and increased clarity among the leadership team.
All of the board members attended Sirdar’s Applied Directorship Programme to gain insight into what it means to be a high-performing director and a cohesive board.
Most recently, Sirdar assisted with appointing a non-executive independent director for the business.
Formalising The People’s Fund’s board process resulted in exponential year-on-year growth since its inception. Turnover increased tenfold in the latest financial year, and the board will continue targeting similar growth going forward. In its most recent financial year, the company was also able to declare a dividend.
