A company’s CEO is like the captain of a ship; both are ultimately responsible for the safety of what they are in charge of. If things aren’t going well and the business/ship is sinking, it’s the leader’s responsibility to take decisive action to right things as soon...
Sometimes restructuring or change management is largely about expense control but, in some instances, it’s the sales and product strategy that needs a makeover. That was the situation one company found itself in after its founder passed away and it was subsequently...
While corporate restructuring takes many forms and each situation is unique, similarities can often be seen. Larger companies may do a financial or “balance sheet” restructure where debt is converted into equity. These are usually accompanied by a thorough review of...
One of the biggest hurdles a chief restructuring officer (CRO) faces is persuading stakeholders and employees that changes need to be made, and they need to be made right away. Organizational inertia is the tendency to continue self-defeating behaviors, even when it’s...
When a chief restructuring officer (CRO) begins to analyze what’s ailing a small or medium-sized company, a thorough assessment of the situation must be job #1. Has a key employee or owner retired or passed away? Have sales fallen? Expenses increased? Is there a...
The old expression that ‘the only constant is change’ is germane to both living organisms and companies. Each continuously goes through changes, whether they be incremental or fundamental. In business situations, we call the process of encouraging, directing, or...