Today’s corporate restructuring initiatives need to move ahead as quickly as possible to effect permanent improvements. Conway MacKenzie’s Tim Stallkamp discusses corporate functions that, when tackled swiftly and pragmatically, can lead to sustainable results that are fundamental to a turnaround.
In this environment of economic uncertainty, a company ignoring phone calls from angry suppliers and stretching trade credit is a tell-tale sign of distress. Although this approach may find temporary relief for management, it only delays the inevitable. Eventually every company in this situation will need to face reality head-on with its key stakeholder: the supplier base.