When War World II finally tilted in favor of the Allies with victory in North Africa, Winston Churchill celebrated the victory but with a cautionary tone in a speech in which he warned “Now this is not the end. It is not even the beginning of the end; but it is, perhaps, the end of the beginning.”
I might say the same for the Corona pandemic. The country may be re-opening but we’re far from ‘business as usual” and more than a few businesses have absorbed body blows that will soon manifest themselves especially if there is another lockdown. There have been multiple high-level Chapter 11 Reorganization filings (especially in retail). There will undoubtedly be more.
We will euphemistically call these “restructurings.” Even if your company is weathering the storm well, customers or suppliers who are not may affect you. Their restructuring activities may affect their ability to buy from you, keep their accounts current, or secure critical goods and services from struggling vendors.
This short HBR posting, “Primer on Restructuring Your Company’s Finances,” will test your knowledge of key aspects of restructuring. Take time for it; you may become part of someone else’s restructuring.
As Business Leaders, we are responsible for the health of our companies. Are we doing all we can to be sure we emerge as a stronger Company?
Now ask yourself…… Am I a leader?
