On-going Management & Turnaround assistance
We have been engaged by the Executive Boards of several under-performing, distressed companies to assist senior management in devising and implementing turnaround initiatives.
Our intervention covers an array of services:
- We start by a quick gathering of facts to diagnose the situation and achieve a rapid understanding of operational and financial challenges and opportunities faced by our client.
- We move on to establish a turnaround roadmap, where we segregate actions in urgent priorities that will stabilize the crisis situation and longer term initiatives that will address the root problems that led to under performance. These initiatives could be any of the following:
→ Developing recommendations for and assisting senior management in rapidly securing adequate liquidity.
→ Reviewing and improving working capital policies.
→ Ensuring the existence of leadership that is capable of executing the turnaround plan and assisting if need be in recruiting for key positions involved in managing the turnaround.
→ Developing an organization restructuring plan while; redefining the management and reporting structures and clarifying job descriptions and authorities.
→ Developing a cost-reduction plan.
→ Establishing and implementing new financial and budgeting systems.
→ Identifying when possible, opportunities to divest; non-core assets.
→ Facilitating the implementation of the plan by ensuring participation, communication and commitment at all levels of the organization.