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Turnaround Management

Changing market dynamics can make once-stable, profitable, and competitive companies into loss-making, struggling companies about to close operations or in dire need of financial assistance. While many companies turn to downsizing, it can exacerbate already existing problems as downsizing not only thins the ranks of managers groomed to assume top positions but also breeds negativity in times of much-needed optimism in the organization.

A turnaround specialist enters a company with optimism and complete objectivity; he has an unbiased approach and can identify problems that may not be identifiable to the insiders.

There can be numerous reasons as well as symptoms creating the need for Turnaround Management:
Ineffective Management Style
 

 Ineffective Management Style
 Over diversification
 Weak financial function,
 Poor lender relationships
 Lack of operating controls
 Market lag
 Competition
 Precarious customer base
 Operating without a business plan
 Overly optimistic sales projections
 Revenue downturn caused by a weak economy
 Explosive growth
 Poor strategic choices
 Poor execution of a good strategy
 High operating costs
 High fixed costs that reduces flexibility
 Insufficient resources
 Unsuccessful R&D Projects


 

In these situations, Verge Consulting helps its clients through:

 Change Management
 Situation Analysis
 Implementing an Emergency Action Plan
 Business Restructuring

The Emergency action plan includes financial, marketing, and operational strategies to restructure outstanding debt obligations, improve working capital management, reduce operating costs, improve budgeting practices, correct product line and customer mix pricing, prune product lines, and accelerate high-potential products.
The turnaround is successful only with a psychological shift as well, with the organization culture fostering optimism, confidence and a sense of belongingness. However, if the situation is unfavorable and bleak for turnaround, Verge offers highly-customized Exit Strategies to its clients.
 
 Service Offerings Business Advisory Turnaround Management Business Consulting Performance Improvement
 
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