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Are some of these statements true for you?
This situation must only be allowed to continue for a short period of time otherwise the financial substance of the company will erode and the costs, time and complexity of a business rescue grow.
Depending on the problems management should be exploring and resolving the reasons for diluted profits and embarking on a process of business recovery planning.
This is quite a common feature of the top job. The responsibilities and challenges are immense and are often not understood or appreciated by the rest of the organisation. There is no one suitable or experienced enough to use as a 'sounding board'.
Firstly have you got a Plan? If not then produce one. If one exists review it regularly. A Strategic Plan is a dynamic document, it should never be 'cast in stone'. Unforeseen trading issues occur that require the Business Plan to occasionally be refreshed and updated.
A sure sign that concerns are developing and your company is under closer scrutiny. If you are not careful your account will be supervised by a faceless banker and not your relationship manager.
If it is going to damage profits and no executives are available or experienced enough to deal with it spend some money and get it resolved before it escalates into something bigger. Clients are likely to be successful with us if:
Most of our work comes from referrals via professional organisations such as Banks, Lawyers and Accountants. And of course by word-of-mouth. |
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© Copyright 2004. FB Associates - working in East Anglia : Essex Suffolk Norfolk and Cambridgeshire
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