In the face of the trend of worldwide economic integration, business restructuring is an important factor to help improve operational efficiency as well as maximize cost savings for businesses. So, several steps in business restructuring consulting will be listed in detail in the article shared below.
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Concept of business restructuring
Enterprise restructuring refers to the process of organizing and rearranging businesses based on the original organization. To change the structure and working methods to overcome internal weaknesses. At the same time, business restructuring also helps businesses change their previous vision, mission, and orientation to operate more effectively in the future.
Business restructuring can be applied to the entire business or just a few individual departments such as business strategy, organizational structure, operating methods, etc. depending on the conditions and needs of each business. will receive the consulting on business restructuring different.
Business restructuring consulting process
To restructure a business for the best results, it is necessary to follow the procedures below:
Learn about business (1 week)
- Experts conduct tours and learn about the enterprise's work and production products.
- Analyze strengths and weaknesses in the management system and leadership style of businesses.
- Find out and determine the capacity of the enterprise's officers and employees.
- Find and analyze the causes of business revenue decline.
From there, a decision will be made to establish a business restructuring committee according to the following operating methods:
- Ask employees to write their own job descriptions.
- Review and analyze the organizational chart.
- Communicate directly with leaders, employees, partners and customers.
Building the culture and identity of the business (1 week)
Depending on the individual characteristics and production groups of each business, there will be different restructuring consulting methods that are most suitable.
Analyzing the value creation process (1 week)
- Analyze and identify stages that create added value for businesses.
- Identify important stages, decide the overall process.
- Determine the specific work of each stage.
- Identify control ports.
Restructuring business organization (2 weeks)
An important part of the business restructuring consulting process is organizational restructuring. This phase needs to be carried out over a long period of time with 3 main tasks including:
- Build an organizational model based on the old business model.
- Form specific job titles of the new organizational model.
- Develop job descriptions for new organizational models.
Restructuring the enterprise's personnel (2 weeks)
There will be 2 cases of personnel restructuring:
- Recruitment, redeployment, dismissal and training are not properly conducted.
- Reasonable: Adjust salary and bonus policies to suit each job title.
Operate, evaluate, explore and adjust restructuring plans (4 weeks)
- Organize opinion polls for officials and employees about work, organizational restructuring, working attitudes, etc.
- Provide the most suitable adjustment solutions.
Instructions for building work plans and control (1 week)
Depending on the characteristics of each business, there will be instructions for building the most appropriate work plan and control.
Find core competencies that connect departments and divisions in the company
The core competencies found will create connections between departments throughout the enterprise, creating a sustainable structure between departments within the same company or corporation.
Business restructuring is a practical activity today to develop a more sustainable business. Hopefully, the above article has helped you better understand business restructuring as well as the appropriate business restructuring process and steps for your business.