Best Practices/Techniques Operational Turnarounds and Financial Restructuring...jfdavidson
The document discusses best practices in turnaround consulting. It notes that while turnaround consulting demand is higher than other services, it is lower than in previous recessions due to factors like excess leverage and decreased collateral values. The current environment favors fast pre-packaged bankruptcy filings and out-of-court sales or liquidations. Types of insolvency consulting include situations involving operational stress, financial stress, or both. Turnaround consulting requires financial and operational expertise as well as experience in industries like retail. Issues in turnaround cases involve factors like a company's industry, products, management, and capital structure. Fees for turnaround consultants may involve retainers, carve-outs, or fee applications subject to court approval.
Due Diligence-Financial & Operations Risk Analysis & AssessmentTony Wayne
The document discusses an upcoming seminar on due diligence for financial and operational risk analysis. It provides an overview of the speaker's company and experience in due diligence, valuation, and restructuring. The seminar will cover key areas of risk assessment for M&A deals, including macroeconomic factors, industry risks, operational risks, financial risks, and tax considerations. It emphasizes the importance of thorough financial analysis and normalization adjustments to determine an appropriate valuation range.
TRU Snacks Webinar Series - Determining the Right Path Forward When Restructu...Citrin Cooperman
The COVID-19 pandemic pushed many business owners into crisis management mode to identify the best way to pivot and ensure sustainability. During this TRU Snacks session, we will provide insight on how to determine the right path forward when restructuring a financially distressed company.
https://www.citrincooperman.com/infocus/tru-snacks-webinar-series
Frederic McGee has over 30 years of experience in banking, brokerage operations, project management and consulting. He has expertise in many areas including operations management, compliance, cost basis reporting, corporate and municipal bonds, custody, derivatives, reconciliation, mergers and acquisitions, and more. McGee held consulting roles at several large financial institutions where he implemented systems, managed projects, performed reconciliations, and trained staff.
The document outlines a 15 step M&A process including pre-closing and post-closing activities. It involves identifying acquisition targets and due diligence needs, gathering financials and other documents, coordinating cross-functional reviews, addressing legal, HR and IT integration, and creating a 100 day post-closing plan. Pre-closing steps include setting up entities, budgets, insurance and payroll. At closing, signings and asset transfers are completed. Post-closing focuses on purchase price allocation, addressing auditor requests, and combining operations.
Due Diligence - What You Don’t Find Out Will Hurt YouNow Dentons
This presentation focuses on the details of the due dilligence process. It covers the definition and role of due dilligence, provides a legal due diligence checklist and gives an overview of key due dilligence points and mining considerations.
Valuation Research Corporation presented information on preparing for SFAS 141R. Key points include:
- VRC provides valuation advisory services and maintains relationships with corporations and financial institutions.
- SFAS 141R changes the accounting for business combinations from an asset-based approach to a fair value approach.
- Major changes in 141R include defining a business, accounting for contingent consideration and noncontrolling interests at fair value, and expensing acquisition-related costs.
- SFAS 141R aims to provide greater transparency through recognizing all assets acquired and liabilities assumed at fair value.
Overcoming Cashflow Problems in Your BusinessFIFOCapital
The document discusses cash flow financing options for businesses experiencing unpredictable cash flow. It outlines reasons for cash flow issues such as increased expenses, reduced sales, and delayed payments. Cash flow financing involves a lender advancing funds based on invoices submitted by a client. The lender then receives payment directly from customers and provides the remaining balance to the client. Benefits include converting debtors to immediate cash and greater flexibility. Suitable industries include those with business-to-business credit sales. FIFO Capital provides such financing for single invoices without property security requirements.
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...jfdavidson
The document discusses best practices in turnaround consulting. It notes that while turnaround consulting demand is higher than other services, it is lower than in previous recessions due to factors like excess leverage and decreased collateral values. The current environment favors fast pre-packaged bankruptcy filings and out-of-court sales or liquidations. Types of insolvency consulting include situations involving operational stress, financial stress, or both. Turnaround consulting requires financial and operational expertise as well as experience in industries like retail. Issues in turnaround cases involve factors like a company's industry, products, management, and capital structure. Fees for turnaround consultants may involve retainers, carve-outs, or fee applications subject to court approval.
Due Diligence-Financial & Operations Risk Analysis & AssessmentTony Wayne
The document discusses an upcoming seminar on due diligence for financial and operational risk analysis. It provides an overview of the speaker's company and experience in due diligence, valuation, and restructuring. The seminar will cover key areas of risk assessment for M&A deals, including macroeconomic factors, industry risks, operational risks, financial risks, and tax considerations. It emphasizes the importance of thorough financial analysis and normalization adjustments to determine an appropriate valuation range.
TRU Snacks Webinar Series - Determining the Right Path Forward When Restructu...Citrin Cooperman
The COVID-19 pandemic pushed many business owners into crisis management mode to identify the best way to pivot and ensure sustainability. During this TRU Snacks session, we will provide insight on how to determine the right path forward when restructuring a financially distressed company.
https://www.citrincooperman.com/infocus/tru-snacks-webinar-series
Frederic McGee has over 30 years of experience in banking, brokerage operations, project management and consulting. He has expertise in many areas including operations management, compliance, cost basis reporting, corporate and municipal bonds, custody, derivatives, reconciliation, mergers and acquisitions, and more. McGee held consulting roles at several large financial institutions where he implemented systems, managed projects, performed reconciliations, and trained staff.
The document outlines a 15 step M&A process including pre-closing and post-closing activities. It involves identifying acquisition targets and due diligence needs, gathering financials and other documents, coordinating cross-functional reviews, addressing legal, HR and IT integration, and creating a 100 day post-closing plan. Pre-closing steps include setting up entities, budgets, insurance and payroll. At closing, signings and asset transfers are completed. Post-closing focuses on purchase price allocation, addressing auditor requests, and combining operations.
Due Diligence - What You Don’t Find Out Will Hurt YouNow Dentons
This presentation focuses on the details of the due dilligence process. It covers the definition and role of due dilligence, provides a legal due diligence checklist and gives an overview of key due dilligence points and mining considerations.
Valuation Research Corporation presented information on preparing for SFAS 141R. Key points include:
- VRC provides valuation advisory services and maintains relationships with corporations and financial institutions.
- SFAS 141R changes the accounting for business combinations from an asset-based approach to a fair value approach.
- Major changes in 141R include defining a business, accounting for contingent consideration and noncontrolling interests at fair value, and expensing acquisition-related costs.
- SFAS 141R aims to provide greater transparency through recognizing all assets acquired and liabilities assumed at fair value.
Overcoming Cashflow Problems in Your BusinessFIFOCapital
The document discusses cash flow financing options for businesses experiencing unpredictable cash flow. It outlines reasons for cash flow issues such as increased expenses, reduced sales, and delayed payments. Cash flow financing involves a lender advancing funds based on invoices submitted by a client. The lender then receives payment directly from customers and provides the remaining balance to the client. Benefits include converting debtors to immediate cash and greater flexibility. Suitable industries include those with business-to-business credit sales. FIFO Capital provides such financing for single invoices without property security requirements.
IBM was founded in 1911 and emerged as a superpower by the 1950s, but faced structural problems in the early 1990s that led to $16 billion in losses. Lou Gerstner was hired in 1993 to rescue IBM. He took several steps, including layoffs of 40,000-50,000 employees, cost reductions of $6.8 billion through expense cuts and selling non-core businesses. Gerstner also restored line manager accountability, reorganized IBM into one global organization, refined sales processes, and focused on services as hardware stagnated. These strategies secured IBM's core competencies, provided an outside perspective to address real problems, and dismantled a collegial culture, driving financial results. However,
The document discusses turnaround strategy, which refers to transforming a loss-making company into a profitable one. It provides definitions of turnaround strategy and discusses:
1) Possible characteristics of companies that need turnarounds like declining revenues and stock prices.
2) The significance of turnaround strategy for troubled companies to restore profitability.
3) Steps in a typical turnaround process including setting up a committee, identifying causes of losses, developing alternative solutions and implementing changes.
4) Stages in a turnaround cycle from management changes to stabilization and returning to growth.
So in summary, the document outlines what a turnaround strategy is, why they are important for troubled companies, and the typical
Leveraged buyouts (LBOs) involve using a large amount of debt to purchase a firm. Typically over 80% of the purchase price is financed through debt secured by the acquired firm's assets. Good LBO candidates have stable cash flows to service the debt, assets to collateralize loans, and a strong competitive position. The APV (adjusted present value) method values a leveraged firm by separately considering the value of operations and tax benefits of debt net of distress costs from high leverage.
The document discusses private equity, including venture capital and leveraged buyouts. It defines private equity and provides examples of different types of investments. The document makes the case that private equity can outperform public markets over the long term while providing diversification. However, private equity also involves higher risk and lower liquidity than public investments. The document suggests that pension funds should consider allocating 5-10% of their equities to private equity and discusses various ways to invest, such as directly, through private equity managers, or funds of funds. It questions whether new investors have missed opportunities in private equity given consolidation in Europe and high valuations in some regions.
Eastman Kodak Company is a multinational corporation founded in 1880 that pioneered many innovations in photography. It grew through strategic acquisitions and new product lines but faced increasing competition in the late 20th century from Japanese firms and a decline in film use. Kodak underwent massive restructuring and workforce reductions to cut costs while transitioning to digital technologies and services.
This document provides a summary of a presentation on turnaround business strategy for small businesses. The presentation focuses on developing a strategic plan to increase sales, profits, and customers without spending much money. It emphasizes the importance of having a plan and discusses how to analyze problems, prioritize tactics, and work the plan through communication, consistency, and follow through. The presentation aims to help business owners honestly assess their business, develop an actionable strategic plan, and ensure successful implementation of changes.
The document discusses various turnaround strategies that companies can employ when facing declining performance or a crisis. It outlines performing a SWOT/TOWS analysis to identify internal and external factors contributing to the decline. There are two main types of turnaround strategies: operational strategies focused on improving business operations, and strategic strategies focused on adjusting the company's product/market profile. The document provides examples of specific turnaround tactics and outlines a typical road map process from initial crisis response to sustainable recovery.
Vendor management involves managing outside firms that provide goods or services to an organization. It is a process that includes onboarding vendors, annual re-evaluations, and off-boarding when relationships end. Key parts of the process include conducting due diligence, establishing service level agreements to define expectations, and performing security and privacy reviews. Vendor management aims to select partners effectively and ensure services meet requirements over the long term through active oversight and well-defined processes.
MHM's J. Scott Denlinger's presentation from the Finance, Human Resources, Business Operations Conference - June 4-5, 2015.
During this presentation, Scott covered:
*Determining appropriate level of reserves
*Building and maintaining operating reserves
*Budgeting for increases in reserves
*How to create a cash flow budget
The document discusses back-door listings and equity crowd funding. It summarizes that the ASX may approve share issues and options exercisable at no less than 2 cents, providing greater flexibility for back-door listings. It also notes that equity crowd funding is an emerging way for companies to raise funds, as demonstrated by a company raising $1.2 million from 50 investors through an online platform in 3 days.
This document discusses various options for companies facing financial difficulties, including asset sales, wind downs, recapitalizations, and dissolution. It notes the pros and cons of asset sales versus multiple asset deals. For recapitalizations, it outlines the mechanics and key considerations around fairness issues. Wind downs require preparing financial projections both with and without going concern assumptions. Directors and officers could face personal liability for unpaid wages, taxes, and other obligations. The document provides a sample checklist for winding down a company and emphasizes the importance of clear communication with all stakeholders throughout the process.
The document discusses impairment accounting under US GAAP and IFRS, noting that while the concept is the same the details differ, with IFRS using a one-step discounted cash flow model and being more likely to result in impairment charges that can reverse, whereas US GAAP uses a two-step model where impairment is less likely but losses are larger and non-reversible. It also provides an overview of triggering events requiring impairment reviews and practical tips for CFOs around ensuring reasonable cash flow forecasts, discount rates, and terminal values in impairment assessments.
Baker Hill Prosper 2017 - Financial Projections to Drive Sound Credit GrowthBaker Hill
presented by Josh Thompson
"Financial Projections to Drive Sound Credit Growth” educated and instructed attendees on the usage and analysis of financial projections and sensitivity analysis - which have become vital components to sound underwriting, risk management practice, and heightened regulatory standards. The session covered the key drivers and assumptions that drive financial projection output. We explored best practices as well as the spectrum of benefits associated with adopting or enhancing a financial institution’s strategy around financial projections.
This document discusses corporate strategy and strategic management. It begins by defining strategy as a company's plan to attract customers, position itself in the market, compete successfully, and achieve objectives. A strategy must evolve in response to competitors, customers, technology, and market conditions. The document then discusses strategic vision, mission statements, core competencies, competitive advantage, and strategic analysis including PEST and Porter's Five Forces frameworks. It emphasizes that strategic management involves developing a strategic vision, analyzing the internal and external environment, and executing the strategy.
Exception analytics - Balancing Risk & ControlDan French
Presented at the 2013 ISACA North American CACS, in Dallas, this talk shares many powerful stories from the experience of the two facilitators, Dan French and Gonzalo Cuatrecasas. These include ERP implementations, audit findings, compliance and process variations across regions.
This presentation summarizes the major differences between Nepal Financial Reporting Standards and Nepal Rastra Bank (NRB) directives. The presentation was made on October 2015 to the CEO and Audit Committee members of commercial banks of Nepal in a joint program organized by central bank of Nepal and Institute of Chartered Accountants of Nepal.
The document provides an overview of risk-based internal audit (RBIA) in banks, with a focus on its application at the bank branch level. It discusses the key aspects of RBIA including understanding the approach and methodology, identifying vulnerable control areas, and assessing various types of risks like business, credit, operational, and compliance risks. The document outlines the scope of RBIA and provides illustrative examples of risk scoring methodologies. It also examines specific risk factors for credit functions and non-credit functions that auditors should consider. Key regulatory compliance aspects for auditors related to the Banking Regulation Act are highlighted as well.
The document discusses changes to the auditor's report to make it more informative for users. Key changes include requiring the audit opinion to be presented first, including key audit matters (KAM) for listed entities, providing additional focus on going concern assessments, and including a new section on other information. KAM are matters of most significance to the audit determined based on risk assessments, significant judgments, and significant events/transactions. Not all matters will be included in every report. Resources are provided to help with implementation of the new standards, which are effective for periods ending after December 15, 2016.
Ask the Experts: Establishing your BusinessWelch LLP
Every business owner wants to be successful but where do you start? Review the slides that our experts presented, covering: the steps of building your business from the ground up; advice on laying the foundation for a successful future; financing using traditional and/or non-traditional funding, & the basics of ownership structures & co-ownership.
To view our video coverage of this event, open this link:
http://www.welchllp.com/resource-centre/videos/events/
IBM was founded in 1911 and emerged as a superpower by the 1950s, but faced structural problems in the early 1990s that led to $16 billion in losses. Lou Gerstner was hired in 1993 to rescue IBM. He took several steps, including layoffs of 40,000-50,000 employees, cost reductions of $6.8 billion through expense cuts and selling non-core businesses. Gerstner also restored line manager accountability, reorganized IBM into one global organization, refined sales processes, and focused on services as hardware stagnated. These strategies secured IBM's core competencies, provided an outside perspective to address real problems, and dismantled a collegial culture, driving financial results. However,
The document discusses turnaround strategy, which refers to transforming a loss-making company into a profitable one. It provides definitions of turnaround strategy and discusses:
1) Possible characteristics of companies that need turnarounds like declining revenues and stock prices.
2) The significance of turnaround strategy for troubled companies to restore profitability.
3) Steps in a typical turnaround process including setting up a committee, identifying causes of losses, developing alternative solutions and implementing changes.
4) Stages in a turnaround cycle from management changes to stabilization and returning to growth.
So in summary, the document outlines what a turnaround strategy is, why they are important for troubled companies, and the typical
Leveraged buyouts (LBOs) involve using a large amount of debt to purchase a firm. Typically over 80% of the purchase price is financed through debt secured by the acquired firm's assets. Good LBO candidates have stable cash flows to service the debt, assets to collateralize loans, and a strong competitive position. The APV (adjusted present value) method values a leveraged firm by separately considering the value of operations and tax benefits of debt net of distress costs from high leverage.
The document discusses private equity, including venture capital and leveraged buyouts. It defines private equity and provides examples of different types of investments. The document makes the case that private equity can outperform public markets over the long term while providing diversification. However, private equity also involves higher risk and lower liquidity than public investments. The document suggests that pension funds should consider allocating 5-10% of their equities to private equity and discusses various ways to invest, such as directly, through private equity managers, or funds of funds. It questions whether new investors have missed opportunities in private equity given consolidation in Europe and high valuations in some regions.
Eastman Kodak Company is a multinational corporation founded in 1880 that pioneered many innovations in photography. It grew through strategic acquisitions and new product lines but faced increasing competition in the late 20th century from Japanese firms and a decline in film use. Kodak underwent massive restructuring and workforce reductions to cut costs while transitioning to digital technologies and services.
This document provides a summary of a presentation on turnaround business strategy for small businesses. The presentation focuses on developing a strategic plan to increase sales, profits, and customers without spending much money. It emphasizes the importance of having a plan and discusses how to analyze problems, prioritize tactics, and work the plan through communication, consistency, and follow through. The presentation aims to help business owners honestly assess their business, develop an actionable strategic plan, and ensure successful implementation of changes.
The document discusses various turnaround strategies that companies can employ when facing declining performance or a crisis. It outlines performing a SWOT/TOWS analysis to identify internal and external factors contributing to the decline. There are two main types of turnaround strategies: operational strategies focused on improving business operations, and strategic strategies focused on adjusting the company's product/market profile. The document provides examples of specific turnaround tactics and outlines a typical road map process from initial crisis response to sustainable recovery.
Vendor management involves managing outside firms that provide goods or services to an organization. It is a process that includes onboarding vendors, annual re-evaluations, and off-boarding when relationships end. Key parts of the process include conducting due diligence, establishing service level agreements to define expectations, and performing security and privacy reviews. Vendor management aims to select partners effectively and ensure services meet requirements over the long term through active oversight and well-defined processes.
MHM's J. Scott Denlinger's presentation from the Finance, Human Resources, Business Operations Conference - June 4-5, 2015.
During this presentation, Scott covered:
*Determining appropriate level of reserves
*Building and maintaining operating reserves
*Budgeting for increases in reserves
*How to create a cash flow budget
The document discusses back-door listings and equity crowd funding. It summarizes that the ASX may approve share issues and options exercisable at no less than 2 cents, providing greater flexibility for back-door listings. It also notes that equity crowd funding is an emerging way for companies to raise funds, as demonstrated by a company raising $1.2 million from 50 investors through an online platform in 3 days.
This document discusses various options for companies facing financial difficulties, including asset sales, wind downs, recapitalizations, and dissolution. It notes the pros and cons of asset sales versus multiple asset deals. For recapitalizations, it outlines the mechanics and key considerations around fairness issues. Wind downs require preparing financial projections both with and without going concern assumptions. Directors and officers could face personal liability for unpaid wages, taxes, and other obligations. The document provides a sample checklist for winding down a company and emphasizes the importance of clear communication with all stakeholders throughout the process.
The document discusses impairment accounting under US GAAP and IFRS, noting that while the concept is the same the details differ, with IFRS using a one-step discounted cash flow model and being more likely to result in impairment charges that can reverse, whereas US GAAP uses a two-step model where impairment is less likely but losses are larger and non-reversible. It also provides an overview of triggering events requiring impairment reviews and practical tips for CFOs around ensuring reasonable cash flow forecasts, discount rates, and terminal values in impairment assessments.
Baker Hill Prosper 2017 - Financial Projections to Drive Sound Credit GrowthBaker Hill
presented by Josh Thompson
"Financial Projections to Drive Sound Credit Growth” educated and instructed attendees on the usage and analysis of financial projections and sensitivity analysis - which have become vital components to sound underwriting, risk management practice, and heightened regulatory standards. The session covered the key drivers and assumptions that drive financial projection output. We explored best practices as well as the spectrum of benefits associated with adopting or enhancing a financial institution’s strategy around financial projections.
This document discusses corporate strategy and strategic management. It begins by defining strategy as a company's plan to attract customers, position itself in the market, compete successfully, and achieve objectives. A strategy must evolve in response to competitors, customers, technology, and market conditions. The document then discusses strategic vision, mission statements, core competencies, competitive advantage, and strategic analysis including PEST and Porter's Five Forces frameworks. It emphasizes that strategic management involves developing a strategic vision, analyzing the internal and external environment, and executing the strategy.
Exception analytics - Balancing Risk & ControlDan French
Presented at the 2013 ISACA North American CACS, in Dallas, this talk shares many powerful stories from the experience of the two facilitators, Dan French and Gonzalo Cuatrecasas. These include ERP implementations, audit findings, compliance and process variations across regions.
This presentation summarizes the major differences between Nepal Financial Reporting Standards and Nepal Rastra Bank (NRB) directives. The presentation was made on October 2015 to the CEO and Audit Committee members of commercial banks of Nepal in a joint program organized by central bank of Nepal and Institute of Chartered Accountants of Nepal.
The document provides an overview of risk-based internal audit (RBIA) in banks, with a focus on its application at the bank branch level. It discusses the key aspects of RBIA including understanding the approach and methodology, identifying vulnerable control areas, and assessing various types of risks like business, credit, operational, and compliance risks. The document outlines the scope of RBIA and provides illustrative examples of risk scoring methodologies. It also examines specific risk factors for credit functions and non-credit functions that auditors should consider. Key regulatory compliance aspects for auditors related to the Banking Regulation Act are highlighted as well.
The document discusses changes to the auditor's report to make it more informative for users. Key changes include requiring the audit opinion to be presented first, including key audit matters (KAM) for listed entities, providing additional focus on going concern assessments, and including a new section on other information. KAM are matters of most significance to the audit determined based on risk assessments, significant judgments, and significant events/transactions. Not all matters will be included in every report. Resources are provided to help with implementation of the new standards, which are effective for periods ending after December 15, 2016.
Ask the Experts: Establishing your BusinessWelch LLP
Every business owner wants to be successful but where do you start? Review the slides that our experts presented, covering: the steps of building your business from the ground up; advice on laying the foundation for a successful future; financing using traditional and/or non-traditional funding, & the basics of ownership structures & co-ownership.
To view our video coverage of this event, open this link:
http://www.welchllp.com/resource-centre/videos/events/
This document discusses lessons learned from analyzing legal collection experience data. Key points:
1) Analysis of accounts ending up in legal collections showed some business types and lower risk scores were overrepresented, indicating issues with collection and risk management processes.
2) Actions taken included tightening policies for high-risk sectors, accelerating collection processes, ensuring security, and providing data feedback to sales.
3) Reanalysis after changes showed reductions in legal accounts and risk scores, validating the approach. The legal collection process provides valuable data for improving broader processes.
This document provides an overview of business valuation. It discusses the common reasons valuations are performed, including buying/selling a company, estate planning, financing, and litigation. The accepted valuation methodologies are also reviewed, including the income approach using discounted cash flow and capitalization of cash flows methods, market approach using comparable companies and precedent transactions, and asset-based approach. Key valuation concepts like standards of value, levels of value, and determining discount rates are also summarized.
The document discusses strategies for growing a business through acquisitions. It outlines the benefits of acquiring other companies such as gaining new talent, customers, and technologies. This allows businesses to exceed their organic growth rate. The document then provides details on identifying target companies, conducting due diligence, negotiating deals, and integrating acquisitions. It emphasizes the importance of proper planning, execution, and people integration for acquisition success.
Financial analysis involves evaluating financial and other information to make decisions. It follows a six-step process: identify the purpose, analyze the company overview and industry, perform financial analysis techniques, conduct detailed accounting analysis, do a comprehensive analysis, and make a decision. Industry analysis considers competition, barriers, suppliers/buyers power, and business cycles. Business strategy focuses on cost leadership, product differentiation, and core competencies. Quantitative financial analysis systematically examines key financial elements using tools like ratios and cash flow analysis. The goals of financial reporting are to capture a company's business reality and reduce management discretion to provide useful information to investors.
The document discusses optimizing working capital management (WCM) and supply chain management (SCM) by integrating the two areas. It provides overviews of SCM and WCM, including their impact on financial metrics and cash flow. The document advocates reviewing WCM policies and procedures, forecasting WCM needs, and establishing an integrated SCM and WCM framework with aligned metrics to improve financial and operational performance.
Similar to Turnarounds & Restructurings -Institute Management Consultants J Davidson (20)
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
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Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesYourLegal Accounting
Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
However, managing finances without an entire accounting staff can be challenging for small businesses.
Accounting apps can help with that! They resemble your private money manager.
They organize all of your transactions automatically as soon as you link them to your corporate bank account. Additionally, they are compatible with your phone, allowing you to monitor your finances from anywhere. Cool, right?
Thus, we’ll be looking at several fantastic accounting apps in this blog that will help you develop your business and save time.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
2. Current Turnaround Environment
• More than other consulting services
• Less than previous recessions
• Why?
– Excess financial leverage coupled with decreased
collateral values
– Recent M&A valuations/financing - enterprise value
not collateral value
– Greater capital structure complexity
– Covenant-light debt agreements
3. Current Turnaround Environment
– More “administratively insolvent” cases
– Near credit market collapse
– No liquidity, credit drought, fewer financing options
– Forbearance agreements, i.e., “kick can down alley”
– Out of court workouts
– Zone of insolvency issues
– Fewer options and legal minefield
– Significant uncertainty and questionable visibility
4. Current Turnaround Environment
• Bankruptcy is questionable
– More “administratively insolvent”
– Under secured creditors
– Few “Carve-outs”
– Lack of DIP financing
– Complexity and lack of visibility (feasibilty)
– Only 85% successfully reorganized
– Many unsuccessful – Several Chapter 22s
5. Current Turnaround Environment
• Bankruptcy Law Changes
– New 20 –day supplier administrative claim, e.g.,
Circuit City
– New utility deposit requirements
– Expanded inventory reclamation rights
– Tighter deadlines e.g., exclusivity, rejection of
executory contracts (leases)
– Single asset real estate rules (SARE)
– Few filings in California (New York, Delaware)
6. Current Turnaround Environment
• Result?
– Fewer traditional Chapter 11 reorganizations
(less than 15%)
– Fewer and quicker turnarounds
– More straight Chapter 7 liquidations
– Increased Chapter 11 liquidations or Chapter 7
conversions
– More 363 sales and state sanctioned alternatives
– Less turnaround consulting
7. Current Turnaround Environment
• Costs and timing are over riding
– Fast “pre-packs”, e.g. 32 hours
– More out of court sales/liquidations
• Consensual “friendly” Article 9 foreclosures
• ABCs
• Receiverships
8. Types of Insolvency Consulting
• “Stressed,” e.g., trip of covenant
– Best chance for course correction
– Typically, creditor referral
– Business assessment/financial analysis
– Identification and correction of underlying problem
– Likely out of court “workout”
– Easiest on the restructuring/turnaround continuum
9. Types of Insolvency Consulting
• “Distressed,” i.e., Zone of Insolvency
– Legal determination but financial parameters
– Balance sheet and cash flow criteria
– Expanded D&O duty of care in zone
– Law in development and flux
– Tension and competing goals between creditors
and corporation/shareholders
– Insufficient assets and/or cash flows may results
in suits against “deep pockets”
10. Types of Insolvency Consulting
• Operational Stress
– Loss of revenues (industry or macroeconomic)
– Increased expenses
– Fixed expenses (high operating leverage)
– Any one or all of above reflected in operating losses
– Resulting in negative cash flows
– Turnaround/operational restructuring candidate
11. Types of Insolvency Consulting
• Financial Stress/Pressure
– Poor financial structure, i.e., balance sheet
– Excess debt/financial leverage
– May be fundamentally strong/operationally solid
– “Good-Company-Bad Balance Sheet” scenario
– Inability to refinance, extend, or restructure
– May be due to timing weak credit markets or dislocation
– Short term liquidity or overall debt load
– Candidate for financial restructuring or “workout”
– May represent balance sheet make-over
12. Types of Insolvency Consulting
• Both Operational and Financial Distress
– Represents “true” corporate turnaround situation
– Extensive, pervasive revamping of operations and
financial structure
– Potentially performed out of court subject to:
• Industry
• Timing
• Complexity of capital structure
• Number and cooperation of constituents
13. Types of Insolvency Consulting
• Both Operational and Financial Distress
– If one or more of these factors are overriding, then,
– Rehabilitation via Chapter 11 reorganization
– Retailers and restaurant chains represent prime
examples
• Reduced sales (consumer retrenchment)
• High operating expenses, e.g., leases and franchise agreements
• Low collateral values
• High debt levels
• Extensive legal obligations, i.e., executory contracts
– Alternative may be Chapter 7 liquidation
14. Turnarounds – Who?
• Restore/obtain lender confidence and credibility
– Experience and expertise
– Former CEOs and CFOs
– Professional certifications (e.g., general practitioner
i.e., CMC versus specialization surgeon, i.e., CTP)
• Attorneys, financial advisors (CIRA, CPA, CFE,
CFF, etc.)
• Certified Turnaround Professional (CTP)
15. Types of Insolvency Consulting
• Out of court workout/financial restructuring
• Turnaround (strategic, operational, financial)
– All encompassing and pervasive
– May be out of court or in-court (bankruptcy)
• Reorganization - Chapter 11 bankruptcy
(strategic, operational, financial, rehabilitation
via legal process)
16. Requirements of a Turnaround
• Financial expertise, e.g., financial statement
restatements (e.g., fraud)
– 13-week rolling cash flow forecast (90 days)
– Liquidity most critical - Detailed cash analysis,
preserving, maximization
– Working capital - receivables, inventory, payables
– Scour balance sheet for any sources, e.g., tax refunds,
noncore asset sales, sale-leaseback
– P&L analysis – Revenues, logistics, outsourcing,
lean manufacturing, fixed cost reduction
17. Requirements of a Turnaround
• Management replacement
• Orderly liquidation analysis/value
estimation
• “Going-concern” assessment
• Viability analysis
• Identification of and return to core
operations
18. Requirements of a Turnaround
• Customer profitability analysis (large and small)
• Inventory item/SKU analysis (turns, margins,
non-core products analysis
• Vendor analysis-critical versus non-critical
• Four-wall analysis
• Different dashboard metrics – KPIs and CSFs
• Incessant, detailed cash flows scrutiny
19. Required Skills and
Consulting Specialties
• Financial skills and acumen (e.g., CFO, Controller,
CPA, CVA, CFE)
• Executive experience in troubled situations (e.g., CEO,
COO)
• Turnaround expertise (CTP, CIRA)
• Industry experience (retail and restaurant, healthcare,
manufacturing, high technology/E-commerce, energy,
real estate)
20. Required Skills and Consulting
Specialties
• Functional experience
– Strategy
– Marketing/revenue enhancement
– Lean manufacturing/Supply chain/logistics
– International/import/export
– Product development
– Organizational/management
– Human resources/incentives
21. Turnaround Case
Issues and Moving Parts
• Turnaround strategies/options impacted by
following factors:
– Industry
• Macroeconomic/ recession, i.e., cyclical trough
• Macroeconomic concerns may dominate microeconomic
• Highly competitive
• Consumer retrenchment
• Financing dependent
22. Turnaround Case
Issues and Moving Parts
• Products and Markets
– Quality and product - differentiation critical
– Co-dependency with dealership network
– R&D and intellectual property
– Expanded into additional product lines
– Increased capital expenditures (e.g., molds, facilities,
fixed costs)
– “Stuffed” sales channels
– Cannibalized other product sales
23. Turnaround Case
Issues and Moving Parts
• Litigation and successor liability issues
– Product liability
– Environmental liability
– Employee litigation
– Continuing management
– Continuing products
– Continuing name/brand
24. Turnaround Case
Issues and Moving Parts
• Management and Corporate Governance
– Misdirected board involvement/arrogance
– Sales dominated versus orientated (unbalanced)
– $85MM purchase/investment now $12MM value
– Management assessment and participation
– Management competence and industry experience
– Related party affiliations
– Loan guarantees
25. Turnaround Case
Issues and Moving Parts
• Operations
– Utilization of lean manufacturing and efficient supply
chain concepts
– Strong supplier relationships
– Strong dealer relationships
– Industry leader
– Poor information technology utilization
– High facility fixed costs
26. Turnaround Case
Issues and Moving Parts
• Significant asset write-downs and operating
losses
– Loss on discontinued operations
– Goodwill, intellectual property, and asset impairments
and write-downs - $65MM
– Floor financing lender repurchase requirements - $5 -
$10MM
– Industry and company sales declines exceeding 70%
27. Turnaround Case
Issues and Moving Parts
• Capital Structure, Financing, and Liquidity
– Negative equity, significant debt
– One floor financing lender withdrew from the market
– Primary floor lender curtailed lending to Company
pending resolution situation
– Primary bank group swept $3MM cash collateral
– Cross-defaults and cascading effect
– “Melting ice cube” and in Zone of Insolvency
28. Turnaround Case
Issues and Moving Parts
• Turnaround Strategy
– Variable expense reductions (RIF)
– Marketing and promotion/dealer refocus
– Discontinued operations and retrenchment to core
– Redoubling of product development/innovation
– Working capital reductions
– Liquidation analysis
– 13-week rolling cash flow and longer-term forecasts
29. Turnaround Case
Issues and Moving Parts
• Sales Process and Alternatives Evaluation
– “Naked” out-of-court asset sale
– “Loan to own” and/or “Own to Own”
– $12MM of specified assets ($80MM only 4 years ago)
– Prepackaged bankruptcy
– Section 363 sale (successor liability/clear title)
– “Friendly” UCC Article 9 Foreclosure
– ABC (Hand over the keys”)
30. Fees –When and How
• Retainers or guarantees
– Risk of bankruptcy
– Unsecured creditor
• Carve-outs
• Fee applications
– Trustee reviewed
– Parties-in-interest objections
– Court approval
31. Insolvency Terms and Concepts
• ABC
– Assignment for Benefit of Creditors
– Less costly and timely state law alternative
• Absolute priority rules
– Bankruptcy code's ranking for payment of unsecured
claims
– Requires full satisfaction of senior claims before
payments to junior creditors
32. Insolvency Terms and Concepts
• Administrative claims
– Professional fees
– Post-filing expenses
– Priority after secured claims
– Goods received within 20 days of filing
• Administratively Insolvent
– Inadequate cash from assets or operations to
affect a Chapter 11 reorganization
33. Insolvency Terms and Concepts
• Article 9 Proceeding
- Foreclosure under state laws less costly
than bankruptcy
• Carve-Out
– Secured lender agrees to pay professional
fees when administratively insolvent
– If not court-approved
34. Insolvency Terms and Concepts
• Chapter 7
– Liquidation proceeding to effectively shutter doors
– No “going- concern” value
• Chapter 11
– Reorganization proceeding with confirmed plan
– Sale of assets under Section 363
• Cram-down
– Plan confirm over certain creditor classes objections
35. Insolvency Terms and Concepts
• Debtor in Possession
– Debtor continuing to operate under court approval
and U.S. Trustee administrative supervision
– Essentially acting as own trustee
– Acceptable as long as no fraud, negligence,
mismanagement
– Has “breathing spell” under automatic stay
– Exclusive 120 day right to plan development
36. Insolvency Terms and Concepts
• Debtor in Possession Financing
– Short-term financing for DIP to operate business
– Primes secured lenders if “adequate protection”
– Contentious – “Deepens zone of insolvency
– Super-priority status –any new money to repay the
DIP first
37. Insolvency Terms and Concepts
• Fraudulent Transfer
– Transfer of assets (or a sale) within 12 months prior
to bankruptcy filing, or within "zone of insolvency”
– Classified fraudulent transfer if deemed
inappropriate in hindsight
– Receiver can be compelled to return assets to estate
38. Insolvency Terms and Concepts
• Prepackaged Bankruptcy (“Pre-pack”)
– Agreement in advance of Chapter 11 filing
– “Blessed by the Court to eliminate hold-outs and
clear title
– Simultaneously filing and request for Court approval
of plan of reorganization detailing:
• Sale of assets ,e.g., Section 363
• Repayment of debt (in whole or in part)
• Provision for administrative claims.
39. Insolvency Terms and Concepts
• Preference Payments
– Payment to creditor 90-days before
bankruptcy filing (or one year if insider)
– Gives creditor more than would have received
in bankruptcy
– “Claw-back” provisions or disgorgement may
be overcome based on specified conditions
40. Insolvency Terms and Concepts
• Trustee
– Representative of bankruptcy estate
– Exercises statutory powers principally for benefit of
unsecured creditors
– Under general supervision of court and direct
supervision of U.S. trustee
– Chapter 7 liquidation
– Rare Chapter 11 cases (fraud, mismanagement, etc.
41. Insolvency Terms and Concepts
• U.S. Trustee
– Officer of Justice Department to supervise
administration of bankruptcy cases, estates, and
trustees
– Monitors plans and disclosure statements
– Monitors creditors' committees
– Reviews fee applications
42. Insolvency Terms and Concepts
• Zone of Insolvency
– Expanded fiduciary duty of board and executives
beyond shareholder interests to include interests of
creditors
– Potential personal liability for “deepening
insolvency” at expense of creditors
– Focus on preserving enterprise value rather than
creditors versus corporation/shareholders
44. Avant Advisory Group
Presentation by:
Jim Davidson, CTP, CIRA, CFE, CPA, CM&AA Marty McDermut, CPA, CM&AA, CFS
Managing Director Managing Director
714-928-7888 805-705-0042
• Operational Turnarounds, Financial Restructuring, Bankruptcy
• Mergers, Acquisitions and Capital Transactions
• Forensic Accounting, Fraud Investigations, and Dispute Consulting
• CFO and C-Suite Interim Management Services
Los Angeles Newport Beach San Francisco Santa Barbara