Working With Trades Unions to Promote Consensual Turnarounds #009

Published on 10 December 2010 by Tony Groom A Company Doctor and former President of the Turnaround Management Association, who seeks to save companies, and who does not work for banks, has approached a number of UK trades unions with a view to forging a collaborative approach to dealing with companies in financial difficulties. Currently, […]

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Save Your Company by Terminating Onerous Contracts to Cut Costs #018

Published on 10 December 2010 by Tony Groom Many directors are afraid of terminating contracts and agreements when their companies are in financial difficulties normally out of a concern that termination will lead to a cancellation payment that the company cannot afford. If a company is experiencing fewer orders or lower sales, for example, generally […]

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Business Models need to be Flexible #072

Published on 12 December 2011 by Tony Groom While businesses might be concerned about a eurozone Armageddon, whatever the outcome they will need to ensure survival for the period of austerity that is likely to characterise the next decade. Although growth is desirable, and has been the purpose for many businesses, a more realistic objective […]

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Business Turnaround Process Involves Completing Three Phases

 First published on 14 November 2011 by Tony Groom There are essentially three phases to a business turnaround which are the first, emergency phase to try to ensure survival, followed by a stabilisation phase which includes a thorough look at any fundamental changes needed to achieve a viable business and finally the growth phase to […]

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Business Survival Depends on Stakeholder Co-operation and Collaboration

First published on 24 November 2011 by Tony Groom The support and co-operation of its stakeholders can be crucial to the success or failure of the efforts by a business in difficulty to restructure and survive. There are several ways of defining stakeholders, such as internal and external stakeholders, or primary anad secondary stakeholders, but […]

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Build a Flexible Business Model to Ensure Perpetual Survival

First published on 12 December 2011 by Tony Groom While businesses might be concerned about a Eurozone Armageddon, whatever the outcome they will need to ensure survival for the period of austerity that is likely to characterise the next decade. Although growth is desirable, and has been the purpose for many businesses, a more realistic […]

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