Showing posts with the label bankruptcy

How to Bounce Your Business Off the Bottom

Businesses can decline over the years until they no longer have enough working capital to maintain their current course of action . Without drastic change , the business will either be sold or liquidated in bankruptcy court . Change requires a new way of thinking about things , taking risks and making better strategic choices that lead to higher outcomes . Organizations operate on processes & procedures . The culture of an organization will determine its overall communication and work patterns . When processes & procedures and culture are aligned to market needs it becomes more likely that the business will be able to pull out of its current predicament . Consider a company that produces a single product that once brought in a lot of money but over the years alternative products have been developed by competitors that are eating away at a shrinking market . Continuing to do the same thing