Building Block 1: Plan

The best crisis management is preventing the occurrence of a crisis situation for the company. In doing so, the company systematically scans its micro- and macroeconomic environment to timely capture weak signals that could indicate a future crisis or new business opportunities. Once the company has precisely defined its starting position and target position, it must define the path to achieve this position (strategy) and the role restructuring plays in this within the framework of its strategic planning. From this, the operational planning for implementation is derived. When it comes to the planned profitability of a restructuring, companies are more likely to be trusted with the successful realization of cost reductions rather than revenue increases. Bottlenecks can be represented by the available internal resources in terms of quality and quantity. The involvement of external consultants can be sensible if professionally managed by the company. Given the complexity of restructurings, setting the right priorities is of particular importance. It should also be considered that restructurings are unique opportunities for sustainable solutions. Quickly fizzling result fireworks should therefore be avoided. In planning the restructuring, those responsible for its execution are well advised to inform themselves as thoroughly as possible in advance about the actual motivation and political constellations of the clients, as well as to clarify the competencies of the restructuring team. Restructurings are already a major challenge in terms of content. If the framework conditions are not right, the chances of success for the overall project diminish.