Turnaround

Is your company in difficulty? FAITHFUL EXECUTIVE helps you turn around and transform your business. Our aim: to help you get back on your feet and into the black.

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What is a company turnaround?

Corporate turnaround, or “restructuring”, refers to all the actions taken to turn around a company in financial difficulty. The aim is to return to a healthy economic situation and boost growth. Turnaround is a long and difficult process, but it can be successful if the right decisions are made and the teams are mobilized. The intervention of an interim management expert can be a key factor in saving the company and giving it a new future.

years of experience in interim management

companies successfully supported over the past 10 years

missions abroad in 2024

assignments carried out in 2024

What are the advantages of a company turnaround?

The Middle East, with its booming markets and numerous infrastructure projects, offers considerable potential for companies. However, companies can also run into difficulties. A company turnaround can be a solution to turn things around and get back on a sustainable footing.

1

Avoid receivership: business turnaround saves the company and its jobs, by giving it a second chance.
2

Preserve the company’s value: by turning around the company’s financial situation and improving its operational performance, a turnaround can increase the company’s value.
3

Strengthen competitiveness: the turnaround process can lead to reinvention and new strategies to better respond to market needs.
4

Attracting new investors: a company in a turnaround situation can become attractive to investors again if it presents a credible action plan and a competent management team.

How to manage a business turnaround during a transition period?

Assessment of current situation

This involves analyzing the company’s finances, operations, human resources and strategic aspects to identify the causes of difficulties and areas for improvement.

Drawing up a recovery plan

Based on the diagnosis, a detailed plan is drawn up to turn the company around. This plan should include clear objectives, specific actions to be taken, realistic deadlines and responsibilities assigned to each team member.

Mobilizing resources

Interim managers must be prepared to make tough decisions, such as cutting costs or reorganizing the workforce, while ensuring that employees remain motivated and committed.

Transparent communication

Transparent communication with all stakeholders – employees, customers, suppliers, investors – is essential to maintain trust and commitment during the transition period.

Focus on innovation and adaptability

Turnaround companies need to be able to adapt quickly to market changes and innovate to remain competitive. This may involve developing new products or services, exploring new markets or adopting emerging technologies.

Ongoing monitoring and adjustment

Managing a business turnaround is an iterative process, requiring constant monitoring and adjustments along the way. Interim managers need to keep a close eye on progress against objectives, identify any gaps and make the necessary adjustments to stay on course for success.

Using an interim manager to manage change

When challenges become complex and internal resources are insufficient, calling in an interim manager can be the key to restoring the health and viability of a company in difficulty. One of the main advantages of an interim manager is his or her ability to act quickly and efficiently.

Thanks to their diversified experience in different sectors and organizational contexts, interim managers are able to take charge of complex situations and implement turnaround initiatives with speed and precision. Its aim is to stabilize the company, restore stakeholder confidence and create the conditions for sustainable growth.

When you call on FAITHFUL EXECUTIVE, you benefit from cutting-edge expertise and personalized support to maximize your chances of success in turning your business around.

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The advantages of working with an interim manager

An interim manager is an expert at your disposal to help you meet this challenge.

Cutting-edge expertise: the interim manager masters entrepreneurial issues and brings a sharp strategic vision to the table.
An objective, impartial outside view: as an outsider to the company, the interim manager offers an objective, independent analysis of the situation.
Mobilizing and federating leadership: the interim manager knows how to instill a new dynamic and remobilize teams. His leadership inspires confidence and encourages adherence to the defined action plan.
Pragmatic, flexible management: the interim manager is a true Swiss army knife, able to adapt to different contexts and wear many hats.
Optimization of costs and resources: the use of an interim manager reduces the cost of recruiting and training a permanent employee.

The turnaround process

1. Detecting signs of difficulty

The first step is to identify the symptoms of a deteriorating financial situation, such as late payments, falling sales or rising costs. It’s crucial to act quickly to minimize the negative impact on the business.

2. Analyze the situation

An in-depth analysis of the financial and operational situation is necessary to understand the root causes of the difficulties. This analysis must identify the company’s weak points, unfavorable external factors and management errors.

3. Define a turnaround strategy

Based on this analysis, we draw up a precise action plan tailored to the company’s needs. This plan may include financial restructuring, operational performance improvement, organizational change and the search for new financing.

4. Implement the action plan

Successful turnaround depends on rigorous implementation of the defined action plan. This requires the mobilization of all teams and transparent communication of objectives and progress achieved.

5. Supporting change

A company turnaround is often synonymous with major organizational change. Supporting teams throughout this process is essential to minimize resistance and encourage buy-in.

6. Monitoring and evaluating results

Regular monitoring of results is essential to measure the effectiveness of the measures put in place, and to make any necessary adjustments along the way.

FAQ

What is the consultant’s working method and how does it align with our expectations?Kenneth LAMBO2024-02-22T14:42:22+00:00

What is the consultant’s working method and how does it align with our expectations?

The consultant’s working method is rigorous and results-oriented. It starts with an analysis of your needs and current situation, then develops customized solutions in collaboration with your teams. It implements monitoring and evaluation processes to ensure that its intervention is aligned with your objectives and produces measurable results.

What objectives can we aim to achieve by hiring a consultant?Kenneth LAMBO2023-12-22T18:01:03+00:00

What objectives can we aim to achieve by hiring a consultant?

Objectives vary according to the needs of each company. However, among the goals a company can set itself to stimulate growth and profitability are :

Process optimization,
Improving performance,
Solving complex problems,
Developing new strategies.

What experience and specific skills should the consultant have to meet our needs?Kenneth LAMBO2023-12-22T17:59:55+00:00

What experience and specific skills should the consultant have to meet our needs?

The consultant’s experience and skills may include:

Sector expertise,
Project management experience,
Advanced analytical skills,
Ability to work as part of a team,
Ability to communicate effectively with various stakeholders.

How will the consultant fit in with our existing teams and corporate culture?Kenneth LAMBO2023-12-22T17:59:31+00:00

How will the consultant fit in with our existing teams and corporate culture?

Before the start of any assignment, the consultant undertakes to gain an in-depth understanding of your company’s culture and values. It works closely with your existing teams, adapting to your internal processes and helping to strengthen cohesion and collaboration within your organization.

What’s the difference between a consultant and an interim manager?Kenneth LAMBO2023-12-22T17:59:00+00:00

What’s the difference between a consultant and an interim manager?

A consultant is an independent professional who provides advice and expertise in a specialized field, on short-term projects.

An interim manager is hired to take over the management of an organization for a limited period. They are usually hired to solve a problem or to help the company through a period of transition.

Contact us

Would you like more information, to make an appointment or tell us about a project? The FAITHFUL EXECUTIVE team is at your disposal to answer your questions as quickly as possible.

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