There are many reasons why an organization may require turnaround assistance. Rarely is it due to a single factor. But the clearest sign that turnaround assistance is required is after a steady erosion of your business economics. Profitability continues to decline because revenue increases year-over-year are anemic due to continual price pressure in a mature industry; marketing efforts are not organized and occur sporadically, i.e. the volume of new business, only serves to replace terminating relationships; employment and administrative expenses increase; and, competition is fierce.Interestingly, the method to redesign a business is the implementation of standard business management “best practices.” This manuscript discusses each solution in the context of how it was observed in business.I have found that small and medium-sized businesses incorporate some of the concepts raised in this manuscript, but not all. However each large Fortune 100 company I worked with incorporated every one of the concepts. These are proven methods of success, to help improve the probability of your success.
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