Turnaround model
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The document outlines a turnaround model for businesses experiencing decline. It discusses common perceptions of decline and proposes a five-point plan for recovery involving diagnostic, creating time through moratorium, developing a recovery plan, implementing the plan, and aftercare monitoring. The model acknowledges different management styles are needed for growth, consolidation, and crisis stages. It also notes the emotional state of owners and importance of continuous improvement and step change.
Turnaround model
- 3. Turnaround & Recovery The common perception Performance Time
- 4. Turnaround & Recovery Common perception and potential consequences Performance Time
- 5. Turnaround & Recovery Our approach Consolidated recovery Performance Time Bottoming out Sustainable growth Decline can either be Traumatic or slow
- 6. The Five-Point Plan Point 1 Diagnostic Point 2 Create a window of time Debtors/Creditors Crown Moratorium Sell stock Re-negotiate bank debt etc Point 3 Develop Recovery Plan Marketing & Sales Aggressive cost reduction Re-finance Diversify Management etc Point 4 Implement Recovery Plan Management structure Financial package Change Innovation etc Point 5 After care Monitoring N.E.D. Mentoring
- 7. The life cycle of a business - Different Management styles Growth Consolidation Crisis Management Style Entrepreneurial Structured Turnaround Life cycle stage
- 8. The emotional state of the owner
- 9. Introduction of effective change Continuous Improvement The competition or ‘best practice’ STEP CHANGE
Editor's Notes
- #7: We will do the initial filtering make the initial diagnostic. A recovery plan will be developed in liaison with partners in the programme.