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Turning A Business Around
Preface
Introduction
Turnaround
Spotting The Warning Signs Of Bu
Understanding Why Businesses Fai
Understanding Your Immediate Fin
Managing A Real Cash Crisis
Understanding And Controlling Yo
Setting The Strategy
Managing Marketing
Managing Change
Managing The Risks
Summary And Conclusion
Business
Turning A Business Around
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Preface
Preface To The Second Edition
Introduction
The Importance Of Business Skills
Managers Are Critical In A Crisis
What To Do In Times Of Difficulty
Take The Time To Do A Business Health Check
Turnaround
Obtaining Support For A Turnaround
Understanding Your Options
The Conditions Necessary For A Successful Turnaround
The Phases Of A Turnaround
The Turnaround Process
How This Book Is Structured
Spotting The Warning Signs Of Business Failure
Why Businesses Fail
The Types Of Business Failure
Normal Business Failure
Avoiding Failure
The Symptoms Of Normal Failure
Checking Your Business’s Health To Spot The Warning Signs
Take An ‘a’ Score Test
Understanding Why Businesses Fail
The Causes Of Normal Failure
The Five Key Areas
Key Points
How Serious Are Your Problems?
Understanding Your Immediate Financial Position
What You Need To Know
Insolvency
Cashflow Forecasting
Support From The Bank
Key Points
Managing A Real Cash Crisis
Wealth Warning
Achieving Balance
The Key Steps To Survival
Controlling The Cash You Have
Obtaining More Cash From Normal Trading
Obtaining More Cash Or Credit From Elsewhere
Reducing And/Or Controlling Outgoing Cash
Reducing The Amount Of Cash Needed To Trade
Improving Profits
Improving Management
Understanding And Controlling Your Financial Performance
What You Need To Know
Profitability
Financial Stability
Using Financial Information
The Management/Financial Information You Need
Setting Financial Targets
Setting Financial Targets For Your Business
Setting The Strategy
It’s Your Business: What Do You Want To Do?
Setting Your Personal Goals
Industrial Trends: Pest’analysis
Industry Structure: ‘porter’s Five Forces’
What Products To Sell Into Which Markets?
Product Lifecycles And Product Portfolios
Meeting Customer Expectations (The Critical Success Factors)
Competitive Advantage
Unique Selling Propositions
The Value Chain
Family Businesses
Setting Business Goals And Deciding On An Action Plan
Managing Marketing
Successful Marketing
Deciding Whom To Sell To
How To Sell Your Product
Tailoring Marketing Strategy: The Four Ps Of Marketing
Managing The Sales Process
Managing The Sales Force
Key Points
Managing Change
Managing And Motivating Yourself
Self-Motivation And Time Management
Understanding Your Business’s Structure And Culture
Assessing Your Team
Managing People And The Process Of Change
Managing A Project
Getting Stakeholders On Board And Keeping Them There
Assessing How Well Your Project Team Operates
Managing The Risks
Identifying The Risks
Dealing With The Strain
Insolvency-Specific Risks
Summary And Conclusion
Recognise The Need For A Turnaround
Stabilise Your Finances
Decide What To Do
Make It Happen
Conclusions
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