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Change Management and Restructuring

Restructuring and turning around a business or organization is often required when the performance is not meeting expectations and/or, in extreme cases, diminishing cash flow has jeopardized its very survivability. Restructuring is often required after an acquisition or merger in order to integrate the business into the new parent organization by harmonizing the policies, procedures, practices, processes and systems.

Resistance to change is natural because it is often associated with downsizing and layoffs. Change that is poorly implemented can have negative consequences and become toxic to the organization. Leaders must understand the stress factors that cause the resistance, and develop a Plan to overcome the resistance and instill employee support and trust. These stress factors are:

Whenever a restructuring or turnaround is required, a written Plan of Action must be prepared to deal with these factors and develop employee support and trust. The Plan must includes the following key elements:

There are a few Pitfalls to avoid:

Having led several restructuring and turnaround projects, we can help with the development and implementation of the restructuring plan to ensure that the outcome is successful.

We helpĀ SMEs achieveĀ sustainable growth and profitability in a highly competitive environment.

To learn more about how we can help your company grow and prosper, call us for a free consultation.

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