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Restructuring in 2009: Understanding and Responding to the Crisis
Publish Date: February 10, 2009
Author(s): Heckmann, Peter; Konik, Fabienne; Samakh, Edouard; Weissbarth, Robert
Abstract: As senior managers get past the strategic paralysis they suffered in the first stage of the financial crisis, they will need to respond in an appropriate and structured way. They will also need to figure out which changes to make first. In this environment, companies may need to address challenges related to costs, revenues, and their balance sheets. There is a robust, three-step approach to change that companies should take during the crisis: understanding immediate needs, setting priorities, and implementing restructuring. There are also 25 key management tools across five key focus areas that can help ensure success in companies' restructuring efforts. In each of these areas, a set of specific improvement actions can help weak companies survive and strong companies take advantage of their position.
Related Expertise Areas: Organization, Change & Leadership, Enterprise Strategy
