Business Development (BD), and Marketing, is almost entirely staffed with individuals who have their bachelor’s; overall, 98 percent of our employees have acquired at least an undergraduate degree. In addition to the need for higher education to serve our markets appropriately, there is often specific subject matter knowledge necessary to deliver value as a consultant. As an example, within the Life Sciences industry, the need for PMCs with knowledge and expertise within the Regulatory environment has increased over the past few years. To accommodate these market needs, specific experience and skill requirements are identified in seeking new candidates (job requisition). In all hiring decisions, the Company uniformly seeks individuals who align with our culture and exhibit strong leadership potential. To capitalize on the significant potential of our employees, KPM has increased in both strength and numbers, providing our PMCs with a robust repository of project protocols, information, and continuing education. Additionally, our document and creative services have evolved through the addition of employees in CCS. In 2014, Company growth also dictated acquiring in-house legal expertise to ensure comprehensive review of all contracts and increased scrutiny of all corporate legal matters. The factors that engage our employees in achieving our M&B and Vision – as validated by employee surveys – include: • Leadership behavior consistent with our M&B and FV (Figures 7.4-1, 7.4-11) • Communication and transparency (Figures 7.4-5, 7.4-6) • Professional development (Figure 7.3-21) • Organizational support (Figures 7.3-13, 7.3-14) The nature of IPM’s consulting services does not necessitate special health and safety requirements, although when our PMCs require specific safety equipment for their protection at the client site, the Company provides it. P.1a(4) Assets While not “hard” assets laden, IPM’s assets include both the IRS-defined assets and valuable Company holdings considered key to our success, differentiation, and competitive advantage. IPM deems our people, culture, and reputation as critically important “assets.” Ultimately, the strategy, planning, execution, and delivery of our services are dependent on the commitment, knowledge, and conduct of our people. Key information and intellectual capital are also important assets of the business. To drive efficiency and performance, employees are supported with other assets, including laptops and multiple communication tools. This equipment, combined with IPM’s repository of information, training, and supervisory guidance, enables employees to perform to, and expand, their capabilities. Depreciable organizational assets include furniture, fixtures, IT hardware and software, and leasehold improvements (to the Company’s multiple leased offices). IPM maintains an asset listing to properly manage depreciation schedules and
conforms to Generally Accepted Accounting Principles in capturing assets on our Balance Sheet. P.1a(5) Regulatory Requirements IPM is incorporated in the State of Illinois and complies with regulatory requirements that apply in the states in which IPM operates and maintains offices. These regulations include: occupancy licenses, Equal Employment Opportunity Commission (EEOC), Occupational Safety and Health Administration (OSHA), Americans with Disabilities Act (ADA), Health Insurance Portability and Accountability Act (HIPAA), Internal Revenue Service, and state regulations (IL, MA, MO, CA, NJ, and MN). IPM’s business does not make it subject to special OSHA regulations or environmental, product, or financial requirements. The Company is a privately held C Corporation with a single director, the Chief Executive Officer (CEO). Voting shares are held by the ET – the CEO, Chief Financial Officer (CFO), Chief Operating Officer (COO), and Vision Realization Officer (VRO) – which serves as the Company’s operating board. In lieu of an Annual Board meeting, there is a yearly Corporate Resolution signed by the full ET, which identifies major decisions and expenditures. The ET meets on a weekly basis and is the governance body that monitors organizational performance. The ET also approves the business strategy and holds dedicated quarterly meetings to discuss topics of strategic importance. The ET members lead the organizational structure that includes Ops Managing Directors, Directors, multiple levels of PMCs, and the Corporate Services functions. P.1b(2) Customers and Stakeholders Customers primarily fall within four key market segments: Life Sciences, Healthcare, Consumer Products, and Industrial, although expectations and high-level requirements do not vary significantly between these segments. Within BD, customers are further segmented as new and existing. Regardless of market segment or BD category, a unique proposal is prepared specifically for each engagement. The primary deliverable is the achievement of a project objective, which is delineated in the proposal along with the key requirements of leadership, P.1b Organizational Relationships P.1b(1) Organizational Structure managing scope, schedule, budget, and risk, developing effective solutions, and meeting commitments. The customer’s project sponsor is the primary stakeholder, but the complex nature of our engagements means there are typically many other stakeholders representing our client’s multiple functional groups and company divisions. P.1b(3) Suppliers and Partners IPM does not rely on suppliers or partners to perform our consulting services. All services provided to clients are delivered through our full-time staff, who therefore make up our supply chain. IPM’s growth is dependent on our ability to staff an increasing volume of work, which requires strong employee retention and an aggressive recruiting program focused on meeting that demand.
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