RL CORPORATE NEWS AND HAPPENINGS - The Place for Corporate Management Solutions

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Regards,

Dr Robert LH Lim




Wednesday, September 30, 2009

Do we know how to react?

How often than not we are faced by such situations? Maybe a reminder like this will help. Most of the time we are aware but are our people doing anything about it and waiting for something to happen?


Root Cause that lead to a need for Turnaround & Action!
  • No viable Financial Plan.  
  • Slow, incomplete Financial Results reporting.  
  • Managers not “knowing their numbers”.  
  • Cash not treated as scarce/precious/”dear”.  
  • Heavy focus on Revenue, little on Margins, Productivity, etc.  
  • Too much emphasis on “how to account for things”.  
  • Time treated as “abundant”, little sense of urgency.  
  • Weak or non-existent Management Process. 
  • Eliminate these and you reduce the risk of a business crisis.

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