Managing Through Turbulent Times

Managing Through Turbulent Times
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Описание книги

"What shall we do as managers operating in unstable times when the reassurance we desire is absent and the uncertainty of today promises an unpredictable tomorrow?"
Corporate management teams are living through the Chinese curse of 'may you live in interesting times' as they contemplate their exposure both directly and indirectly to the almost unprecedented turbulence in the global markets.
In his first book, turnaround specialist Anthony Holmes explains how to approach management in turbulent operating conditions and what to do if your company encounters distress. It is based around his 7 key rules of crisis management, which are:
1. Obtain multiple opinions in the decision-making process 2. Retain close control over the implementation of policy 3. Reduce time pressure 4. Limit objectives 5. Maintain flexible options 6. Understand the nature and potential behaviour of the adversary 7. Maintain communication
It also looks to illuminate the dark areas that create fear of the unknown and explains how to recognise them, how to mitigate their impact, what is feasible, when to seek help and from whom.
The book draws on case histories of previous crises to extract techniques relevant to today's commercial environment and identify those that may seem logical but should be avoided.
The intention is to prevent management from having to begin at the bottom of the learning curve and try to rediscover under pressure those techniques and processes that have been irrelevant and forgotten in the years since the last systemic crisis.

Оглавление

Anthony Holmes. Managing Through Turbulent Times

Publishing details

Preface

About the author

Acknowledgements

Introduction

1. What do I mean by turbulence?

Endnotes

2. What are the limits to management?

The managerial toolkit

Change versus control

Doing the right thing or doing things right?

Avoiding panic moves

Avoiding inaction

Endnotes

3. Corporate lifespan

Beginning

Becoming

Being

Reversing

Identifying an organisation’s position in its lifespan

How to determine the managerial mode

4. Psychology of management

The T-Matrix

Endnote

5. The six stages of crisis development

T-Matrix, including the six stages of crisis development

Key for the T-Matrix

1. Denial

2. Concealment

Emotional

How can this tendency be overcome?

What can be done?

Rational

Trust

3. Containment

4. Negotiation

5. Confrontation

6. Collapse

Endnote

6. The effect of turbulent times

The Defenceless

The Resistant

Healthy Survivors

Disabled Survivors

What can be done? Turbulence of growth

Turbulence of decline

Turbulence caused by a HILPE

Endnotes

7. Stories

Memes

Endnotes

8. Managers or leaders?

What is a leader?

Who are the leaders?

Managers cannot become leaders on demand

Beware hubris

When to discard a leader

Endnote

9. Seven principles of crisis management

1. Obtain multiple opinions in the decision-making process

2. Retain close control over the implementation of policy

3. Reduce time pressure

How can you reduce time pressure?

4. Limit objectives

5. Maintain flexible options

6. Understand the nature and potential behaviour of the adversary

7. Maintain communication

External stakeholders

(i) Shareholders

(ii) Lenders and bondholders

Suppliers

Customers

Employees

Job losses

Endnotes

10. Planning for the present

Competitive strategy

11. Managing the balance sheet. Cash is more important than profit

How to generate cash. One-off cash generation programme – find the locked away cash

Dealing with inventory

Dealing with debtors

Dealing with creditors (including lenders)

Dealing with shareholders

12. Downsizing

Reducing costs

Maintaining marketing spend

Reducing headcount

Reducing revenue

Defence planning

Restructuring by abandoning products and services

Increasing margins

Prices

The cost of cost reduction

Maintaining capital and development expenditure

Those already in progress

Those not yet started

The radical approach

Endnotes

13. Changing the business model

UK GDP Growth 1970 to 2008

UK GDP Growth 1980 to 2008

Endnotes

14. Planning for the future

Endnote

15. The longer view

16. Conclusion

Appendix: The Turbulence Matrix

Axes of the T-matrix

How to estimate the organisation’s position on the vertical axis (Internal Conditions)

Questionnaire

Subjective evaluation

How to estimate the organisation’s position on the horizontal axis (External Conditions)

Technical

Turbulence Radar

Subjective

Отрывок из книги

As I write this book in the final quarter of 2008 the world appears to have moved to the edge of the precipice of the worst economic dislocation since the great depression that began in 1929.

The causes have been argued over ceaselessly in the media, and politicians are beginning to pander to a general desire to accuse and punish those who can be held responsible.

.....

Thus, if turbulence cannot be avoided, there is a general desire to contain it to a short and infrequent period, the onset of which is predictable.

You might imagine significant economic turbulence as a plague-like disease that infects the population. Irrespective of the social impact the consequence for the individual patient is debilitating, may be life-threatening and certainly requires treatment.

.....

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