Download or read book How To Save A Declining Business The Top Business Recovery Strategies To Turn A Company Profitable And The Importance Of Operating A Business Cost Effectively written by Dr Harrison Sachs and published by . This book was released on 2020-03-03 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay sheds light on how to save a declining business and elucidates the top business recovery strategies to turn a company profitable. Moreover, the importance of operating a business cost-effectively is delineated in this essay. In spite of the seemingly insurmountable challenge of turning around an unprofitable business, salvaging a declining business on the cusp of filing for bankruptcy is far more viable than presumed possible. Business recovery strategies can be implemented as a last resort to render an unprofitable business eminently profitable or at the very least solvent. Business owners should learn how to operate their businesses efficaciously so that they do not have to resort to exhausting contingency plans. The first business recovery strategy involves undergoing extreme measures to cut costs in as many areas as viably possible. Executing this strategy goes beyond simply trimming off the fat, metaphorically speaking. Instituting this strategy can entail drastically reducing overhead costs and labor costs. Some major changes that can be undergone encompass leveraging "contract, temporary or outsourced employees to replace higher-cost personnel" (Totka) and doing everything in your purview to minimize labor costs. Moreover, faltering companies can also reduce their marketing costs, close office locations, and can even search for more affordable suppliers to buy products from which can help them significantly reduce their costs of goods sold. Variable expenses that can be cut back and that least contribute to increasing the bottom line should be either severely reduced or completely eliminated if feasibly possible. Declining companies can capitalizing on more profusely leveraging social media platforms for content marketing purposes and can even launch affordable pay-per-click campaigns on low cost advertising platforms, such as FaceBook and Instagram, to not only refocus their marketing efforts, but to also attain more targeted reach in a far more cost-effective manner than utilizing traditional marketing strategies. Slumping companies can also consider fully migrating their business operations online by becoming an e-commerce business and by also utilizing drop shippers preempt needlessly incurring the inventory storage costs associated with storing inventory. Leveraging drop shippers to fulfill orders can even help companies completely eliminate inventory storage costs. Companies can also seek to buy inventory as needed from more affordable suppliers, especially if a copious amount of suppliers offer homogeneous retail products that the company sells. The second business recovery strategy revolves around emphatically focusing on sales and marketing efforts to become profitable. Businesses can generate more sales revenue by acquiring more loyal customers, by generating more sales volumes as a result offering lower product prices, or by charging loftier premium prices for their products. In spite of whichever sales strategy and pricing strategy they pursue for the prospect of maximizing profits, the company will need to efficaciously digitally market their products in a manner that eminently complements their selected strategies. As challenging as it might appear to save a struggling business, businesses are not unsalvageable. Declining brands that are willing to embrace necessary changes and efficaciously leverage effective business recovery strategies in order to parlay their revamped business model into a profitable business venture can make a resurgence in the marketplace. Brands that can most cost-effectively maximize their market reach and advertising impact and that can also minimize labor costs while still leveraging a competent workforce are highly apt to eventually become profitable. Failing companies that neglect to embrace customer feedback, refuse to cut costs and change an unprofitable business model, and that abstain from implementing effective business recovery strategies will become defunct.
Download or read book Strong Towns written by Charles L. Marohn, Jr. and published by John Wiley & Sons. This book was released on 2019-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new way forward for sustainable quality of life in cities of all sizes Strong Towns: A Bottom-Up Revolution to Build American Prosperity is a book of forward-thinking ideas that breaks with modern wisdom to present a new vision of urban development in the United States. Presenting the foundational ideas of the Strong Towns movement he co-founded, Charles Marohn explains why cities of all sizes continue to struggle to meet their basic needs, and reveals the new paradigm that can solve this longstanding problem. Inside, you’ll learn why inducing growth and development has been the conventional response to urban financial struggles—and why it just doesn’t work. New development and high-risk investing don’t generate enough wealth to support itself, and cities continue to struggle. Read this book to find out how cities large and small can focus on bottom-up investments to minimize risk and maximize their ability to strengthen the community financially and improve citizens’ quality of life. Develop in-depth knowledge of the underlying logic behind the “traditional” search for never-ending urban growth Learn practical solutions for ameliorating financial struggles through low-risk investment and a grassroots focus Gain insights and tools that can stop the vicious cycle of budget shortfalls and unexpected downturns Become a part of the Strong Towns revolution by shifting the focus away from top-down growth toward rebuilding American prosperity Strong Towns acknowledges that there is a problem with the American approach to growth and shows community leaders a new way forward. The Strong Towns response is a revolution in how we assemble the places we live.
Download or read book The Three Rules written by Michael E. Raynor and published by Penguin. This book was released on 2013 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A data-driven assessment analyzes the practices of thousands of high- and low-performing companies over a forty-five-year period to reveal unique thinking habits and counterintuitive strategies.
Download or read book Producing Prosperity written by Gary P. Pisano and published by Harvard Business Press. This book was released on 2012-09-25 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manufacturing’s central role in global innovation Companies compete on the decisions they make. For years—even decades—in response to intensifying global competition, companies decided to outsource their manufacturing operations in order to reduce costs. But we are now seeing the alarming long-term effect of those choices: in many cases, once manufacturing capabilities go away, so does much of the ability to innovate and compete. Manufacturing, it turns out, really matters in an innovation-driven economy. In Producing Prosperity, Harvard Business School professors Gary Pisano and Willy Shih show the disastrous consequences of years of poor sourcing decisions and underinvestment in manufacturing capabilities. They reveal how today’s undervalued manufacturing operations often hold the seeds of tomorrow’s innovative new products, arguing that companies must reinvest in new product and process development in the US industrial sector. Only by reviving this “industrial commons” can the world’s largest economy build the expertise and manufacturing muscle to regain competitive advantage. America needs a manufacturing renaissance—for restoring itself, and for the global economy as a whole. This will require major changes. Pisano and Shih show how company-level choices are key to the sustained success of industries and economies, and they provide business leaders with a framework for understanding the links between manufacturing and innovation that will enable them to make better outsourcing decisions. They also detail how government must change its support of basic and applied scientific research, and promote collaboration between business and academia. For executives, policymakers, academics, and innovators alike, Producing Prosperity provides the clearest and most compelling account yet of how the American economy lost its competitive edge—and how to get it back.
Download or read book The Service Profit Chain written by James L. Heskett and published by Simon and Schuster. This book was released on 1997-04-10 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this pathbreaking book, world-renowned Harvard Business School service firm experts James L. Heskett, W. Earl Sasser, Jr. and Leonard A. Schlesinger reveal that leading companies stay on top by managing the service profit chain. Why are a select few service firms better at what they do -- year in and year out -- than their competitors? For most senior managers, the profusion of anecdotal "service excellence" books fails to address this key question. Based on five years of painstaking research, the authors show how managers at American Express, Southwest Airlines, Banc One, Waste Management, USAA, MBNA, Intuit, British Airways, Taco Bell, Fairfield Inns, Ritz-Carlton Hotel, and the Merry Maids subsidiary of ServiceMaster employ a quantifiable set of relationships that directly links profit and growth to not only customer loyalty and satisfaction, but to employee loyalty, satisfaction, and productivity. The strongest relationships the authors discovered are those between (1) profit and customer loyalty; (2) employee loyalty and customer loyalty; and (3) employee satisfaction and customer satisfaction. Moreover, these relationships are mutually reinforcing; that is, satisfied customers contribute to employee satisfaction and vice versa. Here, finally, is the foundation for a powerful strategic service vision, a model on which any manager can build more focused operations and marketing capabilities. For example, the authors demonstrate how, in Banc One's operating divisions, a direct relationship between customer loyalty measured by the "depth" of a relationship, the number of banking services a customer utilizes, and profitability led the bank to encourage existing customers to further extend the bank services they use. Taco Bell has found that their stores in the top quadrant of customer satisfaction ratings outperform their other stores on all measures. At American Express Travel Services, offices that ticket quickly and accurately are more profitable than those which don't. With hundreds of examples like these, the authors show how to manage the customer-employee "satisfaction mirror" and the customer value equation to achieve a "customer's eye view" of goods and services. They describe how companies in any service industry can (1) measure service profit chain relationships across operating units; (2) communicate the resulting self-appraisal; (3) develop a "balanced scorecard" of performance; (4) develop a recognitions and rewards system tied to established measures; (5) communicate results company-wide; (6) develop an internal "best practice" information exchange; and (7) improve overall service profit chain performance. What difference can service profit chain management make? A lot. Between 1986 and 1995, the common stock prices of the companies studied by the authors increased 147%, nearly twice as fast as the price of the stocks of their closest competitors. The proven success and high-yielding results from these high-achieving companies will make The Service Profit Chain required reading for senior, division, and business unit managers in all service companies, as well as for students of service management.
Download or read book Right Away All at Once written by Greg Brenneman and published by Rosetta Books. This book was released on 2016-02-09 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: An expert in business turnaround shares his inspiring approach to problem-solving: “A fascinating read” (Mitt Romney). Visionary leader Greg Brenneman believes that true business success and personal fulfillment are two sides of the same coin. The techniques that will grow your business will also help you achieve a rich, purposeful, and integrated life. Here, Brenneman takes what he’s learned from turning around or tuning up many businesses—including Continental Airlines and Burger King—and distills it into a simple, clear, five-step roadmap that anyone can follow. He teaches you how to: *prepare a succinct Go Forward plan *build a fortress balance sheet *grow your sales and profits *choose all-star servant leaders *empower your team For more than thirty years, Brenneman has seen these steps foster dramatic results in a variety of business environments. But he also came to realize that he could apply these same principles to improve his life and build a lasting moral legacy. He found he could make better decisions by carefully taking the most important facets of his life—faith, family, friendship, fitness, and finance—into consideration. Brenneman’s inspiring examples, from both his business and his life, demonstrate the astounding effects these steps can have when you apply them—right away and all at once.
Download or read book Fit for Growth written by Vinay Couto and published by John Wiley & Sons. This book was released on 2017-01-10 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States
Download or read book Strategy Beyond the Hockey Stick written by Chris Bradley and published by John Wiley & Sons. This book was released on 2018-02-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beat the odds with a bold strategy from McKinsey & Company "Every once in a while, a genuinely fresh approach to business strategy appears" —legendary business professor Richard Rumelt, UCLA McKinsey & Company's newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies. Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy's real odds of future success. "This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development." —Frans Van Houten, CEO, Royal Philips N.V. The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company's current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition. This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia. "A different kind of book—I couldn't put it down. Inspiring new insights on the facts of what it takes to move a company's performance, combined with practical advice on how to deal with real-life dynamics in management teams." —Jane Fraser, CEO, Citigroup Latin America
Download or read book Business Restructuring written by Carla Zilka and published by John Wiley & Sons. This book was released on 2009-10-26 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: An effective, long-term strategy for maintaining corporate growth, profit and competitive edge Depicting a progressive emergent framework for long-term growth, profitability, and success, Business Restructuring: An Action Template for Reducing Cost and Growing Profit employs an integrated approach incorporating several of the most popular methodologies and best-in-class practices into a single proven framework. Beginning with an overview of restructuring and what is needed up-front to be successful, this "How to Cookbook" helps you Understand business restructuring and cost reduction techniques How to transform any organization into one that is high performing Realize efficiencies through the reorganization of resources, improving processes, and identifying outsourcing opportunities Sustain results and achieve continued efficiency, profitability, and growth Describes the right leadership team dynamics to make sure the changes stick Whether you are a business leader or manager, Business Restructuring takes you through a logical series of steps that will provide you with immediately useful tactics to apply on a regular basis to achieve immediate results, as well as a long-term roadmap to deliver performance excellence and increase shareholder value.
Download or read book How to Increase Business Profits A Step by Step Plan to Increase the Profitability of Your Company written by Meir Liraz and published by Independently Published. This book was released on 2019-03-12 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will walk you step by step through the development of a profit plan for your business. This will help you increase your profits by up to 64%. It is a simple, practical, common sense strategy, but amazingly enough, only a small group of smart business owners uses it. In addition the book features the following: Checklist for watching your profit - a penny saved is a penny earned - simple ways to keep profit up and costs down. Planning and goal setting for business profitability - a wise man once said: "If you're not sure where you are going, you're liable to end up someplace else." Here are the tips and techniques that will help make sure you're always on the right track. How to reduce costs - a complete step-by-step organized program for cutting costs in your business. Clients of ours have achieved an average of 28% to 35% cost reduction with this technique, and you can too. Keep the money in your pocket with this one!. All these and much much more. My name is Meir Liraz and I'm the author of this book. According to Dun & Bradstreet, 90% of all business failures analyzed can be traced to poor management. This is backed up by my own experience. In my 31 years as a business coach and consultant to businesses, I've seen practically dozens of business owners fail and go under -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work. And that is where this book can help, it will teach you how to avoid the common traps and mistakes and do everything right the first time.
Download or read book Corporate Recovery written by Stuart St. P. Slatter and published by Beard Books. This book was released on 1999 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful book filled with practical advice on what to do with a corporation that is about to fail unless corrective action is taken.
Download or read book Greater Good written by John A. Quelch and published by Harvard Business Press. This book was released on 2007-12-28 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing has a greater purpose, and marketers, a higher calling, than simply selling more widgets, according to John Quelch and Katherine Jocz. In Greater Good, the authors contend that marketing performs an essential societal function--and does so democratically. They maintain that people would benefit if the realms of politics and marketing were informed by one another's best principles and practices. Quelch and Jocz lay out the six fundamental characteristics that marketing and democracy share: (1) exchange of value, such as goods, services, and promises, (2) consumption of goods and services, (3) choice in all decisions, (4) free flow of information, (5) active engagement of a majority of individuals, and (6) inclusion of as many people as possible. Without these six traits, both marketing and democracy would fail, and with them, society. Drawing on current and historical examples from economies around the world, this landmark work illuminates marketing's critical role in the development, growth, and governance of societies. It reveals how good marketing practices improve the political process and--in turn--the practice of democracy itself.
Download or read book Crafting Solutions for Troubled Businesses written by Stephen J. Hopkins and published by Beard Books. This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a practical guide to evaluating and addressing the challenges of a distressed business - whether due to being overleveraged, poorly managed, or is underperforming. The authors provide practical advice, based on their involvement collectively in more than 150 financially stressed businesses, on how to maximize the value of a troubled business.
Download or read book The Bottom Line Blueprint written by Andrej Petrovic and published by . This book was released on 2023-12-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In "The Bottom Line Blueprint: How to Make a Business Profitable," Andrej Petrovic gives businesses all the information they need to become successful businesses that make money. This book is a must-read for entrepreneurs, business owners, and leaders who want to improve their long-term success and financial health. It is full of useful tips and ideas that can be put into action. Unlock the keys to long-term profits with a plan made for the difficulties of today's constantly changing business world. Popular words like "operational efficiency," "financial literacy," "innovation," and "customer-centric" are used throughout the book without any problems. This shows that the author understands the importance of using all-around business strategies in today's world. The first part of the blueprint talks about how important it is to build a strong base by having a clear goal, vision, and set of values. Strategies like in-depth market research, target audience analysis, and competitive intelligence are all linked. Readers will also learn basic financial concepts that make planning, financial statements, and cash flow management easier to understand. The author goes beyond abstract ideas and gives useful advice on how to learn more about money and make better decisions. People who read this book will learn how to get around the complicated issues of operating efficiency and find ways to simplify tasks, cut costs, and make the most of available resources. One of the best things about the book is that it talks about how marketing can help bring in more money and make a business more profitable. The plan includes everything from old-fashioned marketing methods to cutting-edge digital strategies. It also includes content strategies, customer relationship management, and digital marketing. Real-life case studies show how businesses have successfully followed the blueprint's principles, giving readers real-life examples of how operations have been improved. The author also goes into the psychology of sales and bargaining, which can help you make more money and sell more things. The blueprint talks about how important creativity is for staying ahead in a business world that is changing quickly. It is shown how to create a mindset of innovation within an organization. This helps companies stay ahead in a market that is always changing. One of the main ideas is how to deal with change and follow market trends in order to keep making money. This helps readers create a customer-centered mindset. There are steps in the book that can be used right away to build strong relationships with customers, make them loyal, and use customer comments to make things better all the time. The Bottom Line Blueprint doesn't just talk about ideas; it also shows how to use technology in real life to make things more efficient and cut costs. The book shows how technology can be used to get a better return on investment (ROI). It does this through automation and data-driven marketing. Through strategic planning, risk management, and the value of building a strong sales team, the blueprint shows readers how to achieve long-term growth without losing money. At the end of the guide, the author talks about the psychology of sales and bargaining. This makes sure that businesses are ready to do well in a market that is always changing. "The Bottom Line Blueprint" is your road map to financial success, whether you're an experienced businessperson or a new business owner. It combines trendy strategies with tried-and-true principles to give you a complete plan for making any business truly successful.
Download or read book The Wal Mart Effect written by Charles Fishman and published by Penguin. This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: An award-winning journalist breaks through the wall of secrecy to reveal how the world's most powerful company really works and how it is transforming the American economy.
Download or read book Exiting Your Business Protecting Your Wealth written by John M. Leonetti and published by John Wiley & Sons. This book was released on 2008-11-03 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by John Leonetti—attorney, wealth manager, merger and acquisition associate, and fellow exiting business owner in his own right—Exiting Your Business, Protecting Your Wealth will guide you in thoughtfully planning out your exit options as well as helping you analyze your financial and mental readiness for your business exit. Easy to follow and essential for every business owner, this guide reveals how to establish an exit strategy plan that is in harmony with your goals.
Download or read book The Imagination Machine written by Martin Reeves and published by Harvard Business Press. This book was released on 2021-06-08 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide for mining the imagination to find powerful new ways to succeed. We need imagination now more than ever—to find new opportunities, rethink our businesses, and discover paths to growth. Yet too many companies have lost their ability to imagine. What is this mysterious capacity? How does imagination work? And how can organizations keep it alive and harness it in a systematic way? The Imagination Machine answers these questions and more. Drawing on the experience and insights of CEOs across several industries, as well as lessons from neuroscience, computer science, psychology, and philosophy, Martin Reeves of Boston Consulting Group's Henderson Institute and Jack Fuller, an expert in neuroscience, provide a fascinating look into the mechanics of imagination and lay out a process for creating ideas and bringing them to life: The Seduction: How to open yourself up to surprises The Idea: How to generate new ideas The Collision: How to rethink your idea based on real-world feedback The Epidemic: How to spread an evolving idea to others The New Ordinary: How to turn your novel idea into an accepted reality The Encore: How to repeat the process—again and again. Imagination is one of the least understood but most crucial ingredients of success. It's what makes the difference between an incremental change and the kinds of pivots and paradigm shifts that are essential to transformation—especially during a crisis. The Imagination Machine is the guide you need to demystify and operationalize this powerful human capacity, to inject new life into your company, and to head into unknown territory with the right tools at your disposal.
