Assessing the status of the Business
    and its surrounding environment, and
    then projecting realistic future results.  



Elements include:

• Understanding external forces such as the economy, technology revolution, and business practice innovations

• Analyzing your competitive position, including understanding your major competitors

• Assessing your product portfolio
• Projecting future results based on a realistic baseline
• Identifying key critical issues

3. Business Turnaround (Recovery)

    
   
    Internal restructuring and operational
    optimization to maximize business
    results with existing resources.  



Areas addressed include:

• Business.  Reviewing the business results, identifying issues, and addressing them
• Marketing.  Reviewing marketing strategy and revising marketing plans
• Manufacturing.   Bringing manufacturing processes to optimum performance with maximum quality
• R&D. Reviewing and balancing the product portfolio for maximum potential and minimum risk

    Developing short term actions to address
    business plan shortfalls and key critical
    issues and then implementing them.

Steps include:

• Establishing short term survival goals
• Exploring alternative strategies to achieve those goals
• Developing detailed action plans to implement the chosen strategies consistent with time and resource constraints
• Mobilizing or deploying resources as required
• Monitoring results and making changes

 

4. Business Growth (The Future)

    Pursuing new directions and innovative
    approaches to business expansion and
    renewed growth.



Alternatives include:

• Finding and assessing new ideas with potentially high business impact
• Exploring New Business Areas and New Business Models
• Investigating possible external alliances and/or acquisitions
• Identifying and assessing potential partners
• Defining and developing strategies/plans for acquiring new capabilities and resources