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6 – Changing the Game Plan
Our experience has been that not only do you need to focus on changing some or all of the people and for the focus of the management team – but we need to focus on changing the game plan.
We normally use a “bridge” statement which bridges the required steps from a current loss making to an operating profit. This change has to be possible to be effected in a short time – as little as 3 to 6 months.
The bridge includes key (and perhaps obvious) steps like redundancies and lease terminations.
However, we have been more aggressive than this traditional model, by moving some or all of the business offshore to a low cost developing market economy. Please see our offshoring section.
The right advisors can structure a turnaround plan to maximise stakeholders interests. For further detailed information please click on the Classic Turnaround Cycle stages on the left or click here for the seventh graph - Added Value.