Area of Expertise
Turnaround
Putting Your Business Back On Track
Head of Practice
Other consultants
Summary
We define “turnaround” as a rapid change of corporate strategy that is needed to deal with issues such as falling profitability, lower return on investment or loss of market share. These issues result from sudden changes in demands from the external marketplace, be it competitors, suppliers or customers. Organisations that find themselves facing these issues are often unsure where to start and turn to us for advice. Western Consultants’ Group can draw on experienced, specialist consultants to advise, plan and manage change on all aspects of business turnaround including strategy, sales and marketing, finance, operations, human resources and ICT systems.
We adopt a phased approach to quantify the issues and options for the development of corrective action plans for the team to implement.
The first step will be an exploratory meeting with representatives of the management team to discuss the issues faced by the business; its objectives and the options being considered to achieve those objectives. At the end of the meeting, WCG will make its recommendations and, if appropriate, propose how they might assist in developing a solution.
Phase 1 is an analysis to quantify the issues and options and produce a report and presentation that will set out the findings, recommendations, benefits and proposals for discussion and agreeing the way forward.
Phase 2 is a planning phase, detailing the corrective action plan in a programme of work, with:
· defined roles and responsibilities each team member; and
· mutually-agreed milestones, costs and benefits for measuring and reporting progress.
Phase 3 is the implementation of the corrective action plans through a formal project organisation and regular progress reviews with management and peer-groups.
Phase 4 is the audit and review of the corrective action plans ensuring that the business objectives and targeted benefits have been met. The review will also review the lessons learnt and to ensure sufficient knowledge-transfer has occurred for the team to be self-directed and focussed on continued improvement.
John Wilkinson, MD of
Allied Domecq’s West Country Operations
said, “WCG’s analysis of our situation with options and recommended plans for
turnaround enabled the board to act effectively lead the business through the
changes needed for competitiveness in our market”.
Benefits
Our Turnaround practice group team, each of whom has over twenty years’ experience in their field, can help turnaround your organisation like Allied Domecq. Our phased approach allows the business benefits to be refined without committing to subsequent stages and we find typically that our turnaround strategies payback within a year of the corrective action plans being implemented.
Details of our Turnaround client list are found here, or click here to contact us to discuss further.