This course will enable you to:
- Spot common warning signs that a business is in trouble
- Identify factors which cause businesses failure
- Act quickly during the early stages of crisis management
- Respond appropriately using popular crisis interventions
- Understand the important role of cash to business survival
- Establish the key objectives and questions necessary for building an effective turnaround plan
- Implement an effective strategic business turnaround plan
Only 42% of start-ups are still trading five years later. But why do businesses fail? There are common warning signs to look out for and actions that you can take to identify and manage the threats facing your and your clients' businesses to ensure the best chance of survival in the long term.
This course provides information and advice on business turnaround, which can help businesses prepare for potential issues and have the best hope of survival. It will enable you to identify the common warning signs that there's trouble ahead. Discover what steps you need to take at different stages of a crisis as well as the key aspects that you need to consider when developing and implementing an effective business turnaround.
Why do businesses fail?
- Cash is king
- Warning signs
- External causes of failures
- Internal causes of failure
Approaching the edge
- The spiral of decline
- Business life cycle
- Susceptibility to failure: A scores
- Quantitative factors: Z scores
- What happens in a crisis?
- Communication in a crisis
- Positive action
Stabilising the situation
- First steps
- Reasons for failure
- The cash flow cycle
- Cash management
- Costing and pricing
- Fixed costs review
- Variable costs review
Creating a turnaround plan
- The turnaround plan
- Replace some senior management
- Be sure of the commitment of the workforce
- Key success factors
- Gap analysis
- Customer profitability analysis
- Financial planning - cash flows
- Costing and pricing
Implementing the plan
- Developing a strategic plan
- Changing the business
- Changing business operations
- Creating self-managing autonomous teams
- Investing in technology
- Managing the supply chain
- Re-energising the business life cycle
- Encouraging change
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.