Diagnose the real problems by assembling a reliable and complete fact base
Utilize Internal and External Information Sources
Understanding:
Evaluate the true and complete situation
Internal and External Problems
Expectations of Various Constituencies
Profitability / Contribution by Segment
Competitive Environment
Management, Organization and Business Processes
Cash-flow and Financing Requirements
Insight:
Assess the situation and establish a future course based upon this disciplined factual evaluation, with full consideration of:
Objectives
Risks and Opportunities
Resource Requirements
Commitment and Authority
Develop and document a measurable plan of action
Leadership:
Execute the Plan
Communicate the “Vision”
Provide Support, Guidance and Encouragement
Measure Progress and Accomplishments
Flexibly Reassess Direction Along the Way
Management consists of a great deal more than “Leadership” – particularly in relationship to the elements of “change”. Even the best management teams can become so consumed by their established “vision” and “goals” that they lose sight of the changing landscape around them and can find themselves focusing on the wrong priorities.
Two of the key initial challenges in any troubled situation are identifying
Whether problems being faced are the result of failures of execution or strategy, and
Whether potential responsive actions can be internally controllable, or will need to rely substantially upon external drivers.
Responding effectively to financially distressed situations is all about reevaluating the landscape and planning and executing responsive changes. Those changes may need to be operational in nature, or they may need to be largely strategic. They may require doing things better? Or doing different things?
“Efficiency is doing things right; effectiveness is doing the right things.”
- Peter Drucker
Identifying the true source of business distress and a full range of responsive options is a challenge which is often best addressed with the aid of “Fresh Eyes”. While bookstores are full of tomes which discuss how to lead, the more important challenge to many distressed businesses is knowing when to change direction – and that often requires taking a calm step back to reevaluate the landscape.
Kestrel’s disciplined diagnosis process is designed to focus intensely upon evaluating and illuminating the issues ofknowledge, understanding and insight which are prerequisites to effective planning and management of change.
“Crafting Solutions for Troubled Businesses”
Co-Authored by Kestrel Principals
“Crafting Solutions for Troubled Businesses”
The Challenge of Management – “KUIL”
Develop and document a measurable plan of action
Management consists of a great deal more than “Leadership” – particularly in relationship to the elements of “change”. Even the best management teams can become so consumed by their established “vision” and “goals” that they lose sight of the changing landscape around them and can find themselves focusing on the wrong priorities.
Two of the key initial challenges in any troubled situation are identifying
Responding effectively to financially distressed situations is all about reevaluating the landscape and planning and executing responsive changes. Those changes may need to be operational in nature, or they may need to be largely strategic. They may require doing things better? Or doing different things?
“Efficiency is doing things right; effectiveness is doing the right things.”
- Peter Drucker
Identifying the true source of business distress and a full range of responsive options is a challenge which is often best addressed with the aid of “Fresh Eyes”. While bookstores are full of tomes which discuss how to lead, the more important challenge to many distressed businesses is knowing when to change direction – and that often requires taking a calm step back to reevaluate the landscape.
Kestrel’s disciplined diagnosis process is designed to focus intensely upon evaluating and illuminating the issues of knowledge, understanding and insight which are prerequisites to effective planning and management of change.