Organizations were traditionally structured for stable market conditions and steady growth. As technological change accelerates, some organizations run into difficulty adapting to the new business environment in their structured format, calling for a survival strategy.
Turnaround Strategy/Action Plan Stages
I Cash Management
Develop reliable information about the company’s cash position; Impose stringent controls, squeeze cash out of accounts receivable, etc. Prepare worst case/best case budgets, develop contingency plans
II Information Development
Develop information bridges directly with stakeholders