This course will enable you to
- Spot common warning signs that a business is in trouble
- Identify factors which cause businesses failure
- Act quickly during the early stages of crisis management
- Respond appropriately using popular crisis interventions
- Understand the important role of cash to business survival
- Establish the key objectives and questions necessary for building an effective turnaround plan
- Implement an effective strategic business turnaround plan
About the course
Only 42% of start-ups are still trading five years later. 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.
Look inside
Contents
- 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
- Stabilising the situation
- First steps
- Reasons for failure
- Cash management
- Costing and pricing
- Fixed costs review
- More on variable costs
- Stabilising the situation
- 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
- Implementing the plan
- Developing a strategic plan
- Changing the business
- Changing business operations
- Creating self-managing autonomous teams
- Investing in technology
- Managing the supply chain
- Re-energising the business life cycle
- Encouraging change
- Implementing a plan
How it works
Author
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Why not upgrade?Find the best way to complete your CPD | CourseNeed just a few unitshourshours? | Pick n MixAll you need for this year's CPD. | LicenceAll you need for this year and more. | TeamKeep your whole team up to date. |
|---|---|---|---|---|
| Access to this course | ||||
| Total CPD unitshourshours | 4 unitshourshours | 21 units20 hours21 hours | 800+ unitshourshours | 800+ unitshourshours |
| Access period | 120 days | 120 days Access to end 2025 | 12 months | 12+ months |
| Audit-proof CPD completion certificate | ||||
| Immediate access to our entire CPD catalogue | ||||
| Exclusive news and CPD every week plus monthly webinars, all year round | ||||
| Account manager on hand to support your team’s needs | ||||
| Learn more | Learn more | Learn more | ||
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