Participants will receive access to the recorded sessions of the course.
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The corporate life cycle concept is well understood with a curve that exists as a business approaches the peak of its maturity, before embarking through a series of phases on its natural decline. However, not all businesses follow such a trajectory or steadily decline. Rather than accept the corporate life cycle as unavoidable, proactive management teams regularly rethink their business strategy and apply turnaround disciplines to transform operations and performance.
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.
Training Objectives
By the end of the programme, participants will be able to:
In terms of Knowledge
- Explain why businesses fail
- Understand the role of cash in business survival
- Spot common warning signs that a business is in trouble
- Identify factors which cause business failure
- Act quickly during the early stages of crisis management
- Explain the positive actions required
- Explain how to stabilize a failing business
In terms of Skills
- Implement an effective strategic business turnaround plan
- Establish the key objectives and questions necessary for building an effective turnaround plan
- Respond appropriately using popular crisis interventions
- Communicate appropriately during a crisis
- Properly manage the cash balances of the business
- Properly manage the cost of the business
- Properly implement a turnaround plan
In terms of Attitude
- Manage stakeholders’ expectations
- Assess the readiness of the organization to apply a formal turnaround plan
- Recommend solutions to turnaround a business
- Justify the importance of warning signs
- Justify the need of a company to apply a business turnaround plan
- Motivate other employees to follow the plan
Training Outline
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
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
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
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
Who Should Attend
The programme is ideal for:
- Accountants
- Business owners
- Management
Training Style
- Illustration of key terms and concepts
- Preparation and discussion of practical examples, including mini cases
- The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
- Activities and Break-out groups
CPD Recognition
This programme may be approved for up to 7 CPD units in Accounting & Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Training Objectives
By the end of the programme, participants will be able to:
In terms of Knowledge
- Explain why businesses fail
- Understand the role of cash in business survival
- Spot common warning signs that a business is in trouble
- Identify factors which cause business failure
- Act quickly during the early stages of crisis management
- Explain the positive actions required
- Explain how to stabilize a failing business
In terms of Skills
- Implement an effective strategic business turnaround plan
- Establish the key objectives and questions necessary for building an effective turnaround plan
- Respond appropriately using popular crisis interventions
- Communicate appropriately during a crisis
- Properly manage the cash balances of the business
- Properly manage the cost of the business
- Properly implement a turnaround plan
In terms of Attitude
- Manage stakeholders’ expectations
- Assess the readiness of the organization to apply a formal turnaround plan
- Recommend solutions to turnaround a business
- Justify the importance of warning signs
- Justify the need of a company to apply a business turnaround plan
- Motivate other employees to follow the plan
Training Outline
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
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
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
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
Who Should Attend
The programme is ideal for:
- Accountants
- Business owners
- Management
Training Style
- Illustration of key terms and concepts
- Preparation and discussion of practical examples, including mini cases
- The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
- Activities and Break-out groups
CPD Recognition
This programme may be approved for up to 7 CPD units in Accounting & Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
