Ensuring businesses evolve and adapt in order to thrive.
Laying downa new foundation.
Restructuring is the corporate management term for the act of reorganising the structure of a company for the purpose of making it more profitable or better organised for its present needs.
Business restructuring can be an essential process that helps your business evolve in response to a changing environment. It’s often a challenging, uncertain time, but with a plan aligned to your strategy, commitment to flexibility, and communication, you can give your business a chance at survival and return to profitability.
A Human Agency has a wealth of experience in restructuring in numerous environments. It is never an easy process but we are renowned for having a ‘humane’ process and therefore can make the process less onerous for the business.
To have a successful restructure you need to follow these 10 tips:
- Avoid waiting too long
- Conduct an honest assessment
- Review your strategy and business model
- Look for ways to achieve quick results
- Aim to reduce complexity
- Determine your core activities and processes
- Realistically assess workloads
- Manage uncertainty and resistance
- Stay flexible
- Seek expert advice