| There are many important imperatives and
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| | turnaround situations arise because of
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| factors which are not quantified or
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| | incompetent CEO. Weak board of directors
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| measurable
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| | and
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| by the traditional accounting
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| | the financial controllers are also a
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| system.Human capital is perhaps the
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| | possible cause. Yet, the current
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| single most critical success factor for
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| | accounting system in
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| companies. But its
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| | place does not measure the quality of
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| importance cannot be captured or
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| | these key management staff and board
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| measured by the financial numbers. One
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| | members.
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| can anticipate
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| | Other causes of failures include poor
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| the failure of companies by observing
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| | quality staff and dysfunctional corporate
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| the high defections within their middle
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| | culture that
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| and senior
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| | are ill equipped to handle changes in
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| management ranks. The exodus of these
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| | the marketplace. The damage caused by
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| key managers is the precursor to a much
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| | such
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| more
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| | factors is often only manifested just
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| severe problem, which can impact the
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| | prior to the financial numbers displaying
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| continuity of execution and
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| | the red
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| administration of the
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| | flags.Financial statements can give some
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| company.Another intangible factor of the
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| | amount of indication and warning signs.
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| financial health is the morale of the
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| | But they should not be solely depended
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| staff. Although
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| | upon to gauge the health of the company.
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| good morale of the staff does not always
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| | There are many corporate and accounting
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| equate to good productivity, poor morale
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| | scandals to testify that financial
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| certainly spells trouble for the
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| | statements are insufficient.The
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| company. A reduction in the staff morale
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| | profitability barometer of a vulnerable
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| will result in
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| | company usually takes the form of
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| reduction of the flow of constructive
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| | negative or
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| ideas and effective operation of the
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| | declining profitability. It may have
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| company. In
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| | been slipping for several years,
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| turn, poor morale can cause the exodus
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| | consistently below
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| of good staff and eventually a decline in
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| | the industry's average and compares
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| the
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| | unfavourably with the competitors.
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| profitability and market share of the
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| | However, the
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| company.Low morale is another intangible
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| | declining trend is sometimes confused
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| factor that cannot be measured using
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| | with many other factors such as poor
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| financial terms.
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| | economic
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| High morale does not necessarily yield
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| | conditions, shocks in the marketplace
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| high productivity. Low morale is the
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| | etc. An experienced manager needs to be
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| definite
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| | able to
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| formula for low productivity. The
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| | identify the problems long before the
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| problem with low morale is that the flow
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| | financial numbers turn red. Mike Teng
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| of ideas is
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| | (DBA, MBA, BEng, FIMechE, FIEE, CEng,
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| reduced, there is exodus of good staff
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| | PEng, FCMI, FCIM, SMCS) is the author of
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| and operations efficiency are affected in
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| | the best-selling business book "Corporate
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| the
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| | Turnaround: Nursing a sick company back
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| process.Unfortunately, the traditional
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| | to health", in 2002. In 2006, he authored
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| accounting statements also do not measure
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| | another book entitled, "Corporate
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| the brand equity.
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| | Wellness: 101 Principles in Turnaround
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| Brand equity is actually the amount of
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| | and Transformation." Dr Teng is widely
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| good will resident in the brand. It is
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| | recognized as a turnaround CEO in Asia by
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| the added
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| | the news media. He has 27 years of
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| value endowed upon the product or
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| | experience in corporate responsibilities
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| service as a result of past investments
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| | in the Asia Pacific region. Of these, he
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| and marketing
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| | held Chief Executive Officer's positions
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| of the brand. It is also an asset that
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| | for 17 years in multi-national, local and
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| the company must ensure that its value
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| | publicly listed companies. He led in the
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| does not
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| | successful turnaround of several troubled
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| depreciate. Unfortunately, the brand
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| | companies. He is currently the Managing
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| equity is not captured in the balance
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| | Director of a business advisory firm,
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| sheet because
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| | Corporate Turnaround Centre Pte Ltd,
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| of its arbitrary nature.Another
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| | which assists companies on a fast track
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| significant root cause of corporate
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| | to financial performance.
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| failures is the quality of the CEO. Most
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| |
|
