Today’s reading tip! Interesting article by Harvard Business Review .
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
Innovation requires an innovative strategy and more importantly an innovative mindset.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
Interesting study outcome: downsizing firms are twice as likely to declare bankruptcy as firms that do not downsize. 20 years of personal experience and successful turnaround projects at Troesser & Co. GmbH support these findings. The key for a company’s success are their intangibles, their people. For a company to really thrive it needs a future and opportunity focus, a clear strategy and realistic plan that outlines the steps towards seizing these opportunities. This is even and especially true in crisis and turnaround situations, which require companies to take critical steps, such as reassessing their market position, customer needs, and consequently realigning products or services to grow and improve sustainably. Even though for turnaround and recovery efficiency increases are necessary, and cash and funding are crucial, the measures should always be taken with views to customer and market, developed with subject matter experts within the company. Eliminating everything and all waste that does not have a value for the customer and under no condition disrupting or jeopardizing operational stability. This regularly and reliably leads to a good balance of efficiency and opportunity focus and allows to create a compelling future story for the company and its people. Achieving this, significantly elevates the probability for a successful sustainable turnaround. #turnaroundmanagement #businessrecovery #corporaterestructuring #valuecreation #valuebasedmanagement #operationalefficiency
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
Some great insight regarding downsizing and restructuring and how it is usually myopic and reactive in nature. Biggest takeaway is that most managers/execs don't understand the longer term negative impact of not retaining talent and only thinking about the immediate expendature savings aspect.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
Artificial Intelligence Business & Corporate Strategy Officer & GTM Leader - Fueling Innovation, Strategy, & Enablement Across Industries
Prior to deciding to downsize, company leaders should consider whether any positive short-term returns from downsizing will outweigh the potentially severe long-term consequences, and examine the specifics of their resource portfolio to determine whether their firms are adequately protected from downsizing’s negative consequences. Any moves that eliminate important intangible resources may limit the ability of managers to counteract the negative effects from employee layoffs. This article from Harvard Business Reveiw highlights the short term gains versus long term survival.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
Accuration = Evaluation How to determine this?? What is the prediction? Data Analysis? Strike & balances and what is the after effect consequences of such actions being taken? #businessquote #businessgrowth #leadership #businessstructure #profitlost #riskmanagement
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
An insightful article from the Harvard Business Review highlights an important finding: relying on downsizing as a cost-reduction strategy often correlates with an increased risk of bankruptcy. This underscores the need for companies to adopt more strategic, sustainable approaches to cost management. Given that procurement expenses constitute a substantial portion of most organizations' cost base, they present a prime opportunity for optimization. At Segerlund Advisory, we specialize in helping businesses uncover and implement long-term, sustainable cost-reduction strategies within their supply chains. If you’re looking to reassess your cost base and identify areas for improvement, I’d be happy to discuss how we can support your goals. #costmanagement #costreduction #supplychain #procurement #leadership
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy…
During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy.
