123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

Learn More About Turnaround Management And Corporate Restructuring

By Author: Robert Tate
Total Articles: 7

Retrenchment

The retrenchment method of turnaround management refers to wide-ranging short term steps to stabilize the company, reduce financial losses and to work against the conditions that are responsible for poor performance. Essentially, it is a strategy to reduce the business scope by downsizing, outsourcing, selling assets, eliminating unprofitable lines and abandoning tough markets. The goal is to eliminate financial losses and rev up productive activities. There is a refocus on the core business to attain a better market position.

Repositioning

Also known as an entrepreneurial strategy, the repositioning strategy is used to create revenue with a change in market position and product portfolio. Steps are often taken to modify the mission of the company, explore alternative sources of revenue, enter new markets and develop new products or services.

Replacement

Replacement is the process of replacing CEOs or top managers with new ones. It is believed that new managers can breathe new life into a business due to the experience and different backgrounds of their previous jobs. Replacement is definitely called for when you've got top managers or CEOS who are unable to think out-of-the-box and are resistant to change. There may even be existing leaders who are unqualified or incapable of implementing a successful turnaround.

Renewal

The renewal strategy is focused on long-term actions for successful performance. Existing structures are analyzed. If necessary, some divisions may be closed, new projects are developed to expand into new business areas. Internally, resources or routines may also be removed. Often, innovative core competencies are implemented to stabilize the company.

Organizations and companies like the Strategic Management Partners and the Turnaround Management Society (at http://www.Turnaround-Society.com) can assist businesses with a management turnaround. Both use the International Turnaround Management Standard (ITMS) to target the major problems causing business failure. The ITMS is a whole-business approach that focuses on all the factors needed for success, including best practices, project management tools, financial aspects, change management tools and strategic reorganization methods. By focusing on all of these factors, sustainable recovery is much more likely. It is a structured and logical approach that creates a shared responsibility of the turnaround management team, major stakeholders and board members. Strategic Management Partners, Inc. At http://www.strategicmgtpartners.com/ specializes in implementing the ITMS standards to help companies with their corporate restructuring needs.

The ITMS provides a checklist of activities that are outlined on a timescale. At any time, companies can see what stage they're at and what steps need to be taken. Steps are outlined based on learned reports and case studies with proven success. Even CEOs and top managers without turnaround experience can utilize the ITMS with outlined checklists and guided procedures. Simply put, the ITMS identifies the causes of decline and implements effective strategies for long-term and sustained recovery.


To learn more about corporate restructuring and turnaround management, be sure to visit www.Turnaround-Society.com and www.strategicmgtpartners.com/.

Total Views: 94Word Count: 467See All articles From Author

Business Articles

1. Top Reasons To Buy A Lamborghini Aventador Super Car
Author: Jason Jones

2. What Are The Most Common Carpet Stains At Your Oahu Home?
Author: Kleenprohawaii

3. Our Mission - Cjs Haritha Homes
Author: 0

4. The Shared Fibers Wallet In-depth Review
Author: Lao Yutang

5. The Worst Things About Orlando Wedding Photography That Budding Wedding Photographers Must Take Into
Author: Vikram Kumar

6. Get The Right Ceo Mailing Lists For Your B2b Targeted Marketing
Author: germany email datasupply

7. Carpet And Upholstery Cleaning In Newport Beach
Author: carpetcleaninginnewportbeach

8. Meishen Hold A Contest Of Tug-of-war
Author: hu Allen

9. Avail Budget Interior Designers In Bangalore For Best Services
Author: johnsdaniey

10. Looking For Quality Dietitian Leads To Grow Your Business? Switch To Averickmedia
Author: Andrew Rayel

11. Buy Most Noteworthy Quality Upvc Item On-line
Author: sandip m

12. Burnerindo Teknik Utama
Author: btu.co.id

13. Huge Profits In Carpet Cleaning Business
Author: Drcarpetirvine

14. Tips For Buying Shin Pads For Kids
Author: Sahah Chan

15. High-quality Yet Affordable Plumbing Services In Durban
Author: Donald Frank

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: