According
to Wikipedia: Restructuring is the corporate management term for the act of
reorganizing the legal, ownership, operational, or other structures of a
company for the purpose of making it more profitable, or better organized for
its present needs. Other reasons for restructuring include
- Ø a change of ownership or ownership structure,
- Ø demerger, or a response to a crisis
- Ø major change in the business such as bankruptcy, repositioning, or buyout.
- Restructuring may also be described as corporate restructuring, debt restructuring and financial restructuring.
- Ø Debt restructuring, the reduction and renegotiation of debt
- Ø Economic restructuring, the phenomenon of urban areas shifting their economic base from manufacturing to the service sector
- Ø Cognitive restructuring, a process in cognitive therapy with the goal of replacing irrational beliefs with more accurate and beneficial ones
- Ø Physical restructuring, the transfer, consolidation and closure activities of manufacturing plants
The
worldwide economic recession has affected several organization in the Caribbean
and especially Jamaica and only a properly executed Restructuring plan can
restore their earning power.
HBS
professor Stuart Gilson outlines the keys for a successful corporate makeover.To
outline this important point excerpt is taken from the "Lessons of
Restructuring" section of Gilson's introduction to Creating Value through
Corporate Restructuring.
Although
the case studies in this book span a wide range of companies, industries, and
contexts, some common issues and themes emerge. Taken together, they suggest
there are three critical hurdles or challenges that management faces in any
restructuring program:
1.
Design. What type of restructuring is appropriate for dealing with the specific
challenge, problem, or opportunity that the company faces?
2.
Execution. How should the restructuring process be managed and the many
barriers to restructuring overcome so that as much value is created as
possible?
3.
Marketing. How should the restructuring be explained and portrayed to investors
so that value created inside the company is fully credited to its stock price?
Failure
to address any one of these challenges can cause the restructuring to fail.According
to Gilson “A bungled corporate restructuring can turn a good idea into
disaster.”
For
information on how UHY Dawgen can assist you with a restructuring plan contact
us. UHY Dawgen operates from 4 strategic locations in Jamaica.There are five
easy ways to contact us. Simply call, email, fax, write or just stop by.
Unit
34, Winchester Business Centre, 15 Hope Road,
Kingston
10, Jamaica, West Indies
Telephone:876-9084007/7542074/
9064827
(International No.USA)
937-7-DAWGEN(937-7329436)
Fax:7540380
Email:info@dawgen.com
BRANCHES
§ Montego Bay,St. James
Shop
EU6, Whitter Village, Ironshore, St. James
Telephone:
876-876-9533793/953-8486 Fax: 953-3058/7540380
Email:infobranch@dawgen.com
§
Ocho Rios, St.Ann
Shop
C1, 101Main Street, Ocho Rios, St.Ann
Telephone:
974-5373/9748772 Fax: 754-0380
Email:infobranch@dawgen.com
§ Mandeville, Manchester
Shop L1 & K1,Grove Court Plaza, 16 Park
Crescent, Mandeville, Manchester
Telephone:
962-6369 Fax: 754-0380 Email:infobranch@dawgen.com
UHY
Dawgen is a member of UHY, an international association of independent
accounting and consulting firms, whose organising body is Urbach Hacker Young
International Limited, a UK company. Each member of UHY is a separate and
independent firm. The services described herein are provided by UHY Dawgen and
not by Urbach Hacker Young International Limited or any other member of UHY. Neither Urbach Hacker Young International
Limited nor any member of UHY has any liability for services provided by other
members
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