Framework for achieving succesful turnaround Slatter & Lovett Flashcards
1
Q
Crisis stabilisation
A
Top down control
Cash management
Asset reduction
Short term financing
First step cost reduction
2
Q
Leadership
A
Considering change of CEO
Change of seniot management
3
Q
Stakeholder support
A
communications
4
Q
Startegic focus
A
Redifine core business
Divestment and asset reductions
Product-market refocusing
downsizing
Outsourcing
Investment
5
Q
Organisational change
A
Structural changes
Key poeple changes
Improved communications
Building commitment and capabilities among workforce
New terms and conditions of employment
6
Q
Critical process improvements
A
Improved sales and marketing
Cost reduction
Quality improvements
Improved responsiveness
Improved information and control systems
7
Q
Financial restructuring
A
Refinancing
Asset reduction
