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This section explains how we go about a typical Business Restructure.
Most Businesses at some time or another will need to restructure their business. In times of recession this becomes an important priority as a business restructure is the key to survival.
Stage 1 of a Business Restructure is to establish a baseline. Before imposing change we need to understand what is working well and what is not. So to confirm this we will perform an audit on the business covering all the main operational functions and in addition we’ll look at Strategy, and management strength.
Stage 2 of a Business Restructure is to prioritise the issues we have identified and set out a timeline for their implementation. At this stage of a business restructure its important to achieve some quick wins as this builds confidence in the process.
Stage 3 of a Business Restructure is to revise the business strategy based on the
outcomes from Stage 2 which will identify weaknesses and gaps in your current strategy.
This part of the business restructure process is critical as it will lay the foundations
for the long-
Stage 4 is the most difficult part of any business structure and that is implementation. This is the point at which most businesses fail, why? Because it is at this stage that the rest of the business experiences change. Everybody, with the exception of a few souls, is resistant to change. It is at this time one needs to be clear about what individuals say and what they do. To improve your chances of success a detailed implementation plan needs to be established.
Stage 5 of a Business Restructure is to assess the success of the restructure by measuring the results of decisions made. This review and measurement system should cover all aspects of the business but concentrated on a relatively small number Key Performance Indicators. In addition we seek to ensure that the benefits identified that the beginning of this process are achieved.
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