Vance Corporate Restructuring

From Cause Analysis to Execution
1. Auflage 2009
ISBN: 978-3-642-01786-5
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 283 Seiten

Corporate Restructuring is a practical approach to rescuing troubled companies and driving underperforming companies to top performance. It combines proven restructuring strategies with rigorous theoretical analysis. This book explains how to set and achieve asset, staffing, sales and profit goals. Topics include diagnostic tools to identify the root cause of problems, the human dynamics that cause a company to thrive or wither, customer service and relationship marketing, customer intelligence systems, new product development, process mapping, continuous process improvement and re-engineering as well as integrating IT into corporate strategy. It is also discussed how to find the resources needed to keep a company alive during restructuring and how to use bankruptcy offensively and defensively. Corporate Restructuring emphasizes execution. All the restructuring theories in the world weigh less than a simple plan, well executed.

Autoren/Hrsg.

Vance, David

Inhaltsverzeichnis

1;Preface;5
2;Contents;7
3;Diagnosing the Problem;18
3.1;Introduction;18
3.2;Stages of a Troubled Company;18
3.3;Restructuring Tasks;20
3.4;Time Span;20
3.5;Diagnosing Problems;21
3.6;Tools for Identifying the Problem;23
3.7;Ethics;31
3.8;Complexity;33
3.9;Conclusion;34
3.10;Notes;34
3.11;References;35
4;Setting Restructuring Goals and Reverse Engineering a Company;36
4.1;Introduction;36
4.2;Business Model;36
4.3;Conclusion;45
4.4;References;45
5;People;46
5.1;Introduction;46
5.2;Turnaround Committee;46
5.3;Incumbent Management;48
5.4;Turnaround Team Structure;48
5.5;Supplementing Management;49
5.6;Turnaround Team;50
5.7;Transaction from Restructuring Team to New Management;52
5.8;Management Problems;52
5.9;Unions;56
5.10;Layoffs;57
5.11;Conclusion;61
5.12;Notes;62
5.13;References;62
6;Labor Cost;63
6.1;Introduction;63
6.2;Headcount Management;63
6.3;A Perfect Organization;66
6.4;Low Performing Employees;66
6.5;Staff Functions;67
6.6;Span of Control;67
6.7;Headcount Management System;69
6.8;Consultants and TemporaryWorkers;70
6.9;Compensation;70
6.10;Termination and Severance Pay;73
6.11;Benefits;73
6.12;Other Labor Cost Management Strategies;74
6.13;Executive Compensation;74
6.14;Overtime;75
6.15;Turnover Costs;76
6.16;Workers Compensation;79
6.17;Unemployment Compensation Taxes;80
6.18;Conclusion;81
6.19;Notes;81
6.20;References;82
7;Evaluation of Businesses, Divisions, Facilities, and Dealerships;83
7.1;Introduction;83
7.2;Businesses;83
7.3;Analyzing Divisions, Subsidiaries and Business Units;84
7.4;Comparing Divisions to Industry Norms;88
7.5;Market Position;90
7.6;Disposition of Underperforming Divisions, Subsidiaries and Business Units;93
7.7;Break-Up Value;93
7.8;Facility Analysis;94
7.9;Dealerships;99
7.10;Conclusion;99
7.11;References;100
8;Evaluation Products, Customers and Contracts;101
8.1;Introduction;101
8.2;Customers and Products;101
8.3;Analyzing Customers;101
8.4;Analyzing Products and Services;107
8.5;Customers and Products;112
8.6;Analyzing Contracts;113
8.7;Profit Ladder Analysis;114
8.8;Conclusion;117
8.9;References;117
9;Revenue Growth and New Products;118
9.1;Introduction;118
9.2;Understanding Customers Needs;120
9.3;New Products;122
9.4;Radical Product Innovation;128
9.5;Sales Person and Sales Territory Management;131
9.6;Sales Training and Lessons from High Performers;132
9.7;New Sales Territories;133
9.8;Sales Production;133
9.9;Conclusion;133
9.10;Notes;134
9.11;References;134
10;Markets and Pricing;136
10.1;Introduction;136
10.2;Cost Centered Pricing;136
10.3;Market Centered Pricing;138
10.4;Engineered Cost;138
10.5;Price Elasticity;138
10.6;Optimizing Gross Profit Versus Optimizing Revenue;139
10.7;Product Life Cycle;140
10.8;Opportunistic Pricing;141
10.9;Microeconomic Pricing;142
10.10;Brands;146
10.11;Market;146
10.12;Price Analysis;148
10.13;Conclusion;150
10.14;References;150
11;Customer Service and Relationships;152
11.1;Introduction;152
11.2;Customer Service;152
11.3;Customer Relations;155
11.4;Responsiveness;155
11.5;Customer Service Training;156
11.6;Customer Tracking System;156
11.7;Lost Customers;158
11.8;Customer Feedback;160
11.9;Customer Selection;163
11.10;Firing Customers;163
11.11;Conclusion;164
11.12;Notes;164
11.13;References;164
12;Re-engineering, Process Mapping, Continuous Process Improvement and Outsourcing;166
12.1;Introduction;166
12.2;Process Mapping;166
12.3;Continuous Process Improvement;168
12.4;Re-engineering;171
12.5;Setting Goals;176
12.6;Setting Priorities;176
12.7;Technique Selection;177
12.8;Outsourcing;177
12.9;Conclusion;181
12.10;References;181
13;Cost Analysis and FindingWaste;183
13.1;Introduction;183
13.2;Cost Goals;183
13.3;Payment Analysis;186
13.4;Functional Analysis;187
13.5;Targets of Opportunity;191
13.6;Audit Program;195
13.7;Conclusion;198
13.8;References;198
14;Information Technology;199
14.1;Introduction;199
14.2;Alignment of Strategy and Information Technology;199
14.3;Cost and Needless Complexity;200
14.4;Integration of Computer Professionals;201
14.5;Inventory Computer Systems and Projects;201
14.6;IT Outsourcing;203
14.7;Equipment and Software Costs;204
14.8;Errors;205
14.9;Productivity;206
14.10;Mining Existing Data;207
14.11;Conclusion;208
14.12;References;208
15;Financing the Turnaround;210
15.1;Introduction;210
15.2;Balance Sheet and Cash Flow Goals;210
15.3;Banks;212
15.4;Factors;214
15.5;Asset Based Lenders;215
15.6;Tranche B Lenders;216
15.7;Junk Bonds;217
15.8;Securitization;217
15.9;Private Investment in Public Entities (PIPES);219
15.10;Bankruptcy and Super Priority Loans;220
15.11;Commercial Credit Companies;220
15.12;Summary of Financing Alternatives;222
15.13;Conclusion;223
15.14;Note;223
15.15;References;223
16;Internal Sources of Cash;225
16.1;Introduction;225
16.2;Appropriate Amount of Capital;225
16.3;The Cash Cycle;228
16.4;Accounts Receivable;228
16.5;Inventory;236
16.6;Plant, Property and Equipment;241
16.7;Accounts Payable;241
16.8;Imputed Interest;242
16.9;Conclusion;243
16.10;Note;243
16.11;References;243
17;Emergency Cash Management;244
17.1;Introduction;244
17.2;Emergency Cash Budget;244
17.3;Halt Spending;246
17.4;Labor Costs;247
17.5;Emergency Collection Techniques;249
17.6;Conclusion;251
17.7;Notes;252
17.8;References;252
18;Bankruptcy;253
18.1;Introduction;253
18.2;Background;253
18.3;Chapter 7 Liquidation;253
18.4;Chapter 11 Reorganization;254
18.5;Commencement of Bankruptcy;256
18.6;Order of Payout;261
18.7;Additional Protection for the Bankrupt;263
18.8;Bankruptcy Plan;264
18.9;Prepackaged Bankruptcy;266
18.10;Section 363 and Sale of Assets;267
18.11;Collective Bargaining Agreements;271
18.12;Conclusion;272
18.13;Note;273
18.14;References;273
19;Execution;275
19.1;Introduction;275
19.2;Execution Shortfalls;275
19.3;The Plan;276
19.4;Measurement and Monitoring;281
19.5;People Development;283
19.6;Conclusion;285
19.7;References;286
20;Appendix A Restructuring Timeline;287
20.1;Introduction;287
20.2;Turnaround Timeline;288
21;Index;289