There is a lot of pressure on corporates from Banks, Government, Employees and other stakeholders to maintain not just profitability,but also ensure credit ratings and address cash flow pressures.
Where can problems arise? How do you spot them and fix them? How do you buy time while the remedy is working and how do you keep everyone involved?
The one day workshop on Turnaround management conducted by the Center for Execcutive Education (CEE) ISBR Business School on 22nd July,2017 addressed this skill which every manager needs to know to keep the ship afloat,
The workshop had participants from diverse sectors- Public sector, Private sector, Doctors, Entrepreneurs, Young start-ups and Chartered accountants.
Dr.Ananth Rao, Dean, University of Dubai, Prof.KiranBindu , Financial Expert and Founder Mentees Capital and Prof.Naniah, Marketing Expert and an entrepreneur, each discussed how a company/Organisation could turnaround when faced with a crisis through relevant case studies, examples and one on one discussion of the participants’ problems and doubts.
The workshop concluded with a wrap-up by Dr.Ananth Rao, Dr.C.Manohar and Dr.ChandraNiranjan.
The Valedictory Address was given by Dr.KS Gupta, Director, CEE, ISBR.
Feedback from the participants showed that the workshop provided useful information with ample opportunities for clarifications. The topics covered were up to the participants’ expectations and gave an insight on how to identify the root cause of a problem.
The sessions were interactive with real world case studies that elaborated on realising the situation, financial analysis, KPI, what not to do in business and always keeping a positive attitude.
The case studies was an eye-opener on what to look into, how to study the market behaviour and how to make effective financial decisions .Cultural aspects should also be considered when making strategic decisions.
How to draw investors, How to foresee the market and its potential and the importance of technology and alternative energy were also discussed in detail.
It was important to understand the management of working capital and to create a surplus for diversification.