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Getting out of the crisis

Despite fine products and an excellent reputation, management failures led to negative financial results. And no one had realised it.

To prepare for its change in ownership, a family firm with some twenty employees called upon a consultant / coach from DEVAS Consulting. It said it wanted to do a status report, choose future priorities, make improvements in internal communications, and change from a sole proprietorship to a joint-stock company.

 

  

Knowing how to read the iceberg

  • Initialisation: two half-day workshops began the collaborative effort with a discussion of the current situation and the desired priorities.

  • Finding: the initial work quickly showed that the situation was a delicate one. In fact, the firm’s earnings were not enough to pay off investments or to compensate the owner. In addition, the liquid assets were very tight and suppliers were being paid late.

  • Emergency: a rapid intervention was essential: the following measures were taken to get the company back on track: in-depth analysis of the situation, implementation of a new organisation and the formation of a management team, development of indicators, staff kept informed, price adjustments, management optimisation, cost-reduction programme.

  • After three months: an intermediate closing of accounts was arranged, with special attention to conducting a quality inventory. The first results from the rescue operation were becoming no-ticeable. An integrated accounting management system was introduced during the closing.

  • After six months: work relating to the company’s transition resumed. The managerial staff un-derwent management and leadership training, and ongoing improvement processes were put in place.

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Strengthened managerial staff

One year after the first contact, the sole proprietorship was transformed into a joint-stock company. Today the managerial staff are able to run the firm independently and to call on consultants when necessary. Experience taught them that they needed to take hold of the company's reins themselves and not wait to be pushed by the trust company or bank.

 

The interventionist consultant

Durch die systematische Herangehensweise konnte schnell festgestellt werden, wie kritisch die Situation war, worauf weder Treuhandgesellschaft noch Bank hingewiesen hatten. Während der ersten Monate hat der Berater von DEVAS Consulting die Massnahmen zur Neuorganisation federführend und leitet die Sitzungen des Managementteams. Danach hat er sich Stück für Stück zurückgezogen, um das Management aus Distanz zu unterstützen und, falls notwendig, behutsam einzugreifen.


 

 

BUSINESS AREA

Crisis management

Getting beyond crisis turbulence and seizing opportunities.

 

 

 

CASE STUDY

Limiting the damage

An unpopular decision by a major health insurance company offended its customers. The staff needed to understand the causes and have the tools to react to customers in the best possible way.