Business Turnaround
Most businesses, at some point, will face issues that bring into question their long-term survival. This course examines common warning signs and the actions you need to take to implement an effective business turnaround.
£100 +VAT
Business Turnaround
£100 +VAT
This course will enable you to
- Spot common warning signs that a business is in trouble
- Identify factors which cause businesses failure
- Act quickly during the early stages of crisis management
- Respond appropriately using popular crisis interventions
- Understand the important role of cash to business survival
- Establish the key objectives and questions necessary for building an effective turnaround plan
- Implement an effective strategic business turnaround plan
About the course
Only 42% of start-ups are still trading five years later. But why do businesses fail? There are common warning signs to look out for and actions that you can take to identify and manage the threats facing your and your clients’ businesses to ensure the best chance of survival in the long term.
This course provides information and advice on business turnaround, which can help businesses prepare for potential issues and have the best hope of survival. It will enable you to identify the common warning signs that there’s trouble ahead. Discover what steps you need to take at different stages of a crisis as well as the key aspects that you need to consider when developing and implementing an effective business turnaround.
Contents
Why do businesses fail?
From saving a business to helping it grow
Cash is king
Consequences of failure
Change
Warning signs
External causes of failures
Internal causes of failure
Why businesses fail
Approaching the edge
The spiral of decline
Business life cycle
The BIG question
Susceptibility to failure: A scores
Quantitative factors: Z scores
What happens in a crisis?
Communication in a crisis
Positive action
Approaching the edge
Stabilising the situation
First steps
Reasons for failure
Cash management
Costing and pricing
Fixed costs review
More on variable costs
Stabilising the situation
Creating a turnaround plan
Objectives of the plan
The importance of information
Replace some senior management
The commitment of the workforce
Key success factors
Gap analysis
Customer profitability analysis
Financial planning – cash flows
Costing and pricing
Marketing
Creating a turnaround plan
Implementing the plan
Developing a strategic plan
Changing the business
Changing business operations
Creating self-managing autonomous teams
Investing in technology
Managing the supply chain
Re-energising the business life cycle
Encouraging change
Implementing a plan
How it works
Author
John Taylor
John is a Chartered Accountant who has spent many years advising small and medium-sized businesses across the North of England. John is the author of two industry standard textbooks: Millichamp – Auditing and Forensic Accounting. He has also written several auditing textbooks for AAT courses.
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