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angel1^[]^1 divine | How would you reorganize your company? |
if you just bought 400 million dollars company which was unorganized and had been bankrupted. |
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Graybeard
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I would start from the top down. If the most senior executives are not competent or are acting on personal agendas, then they have to be replaced before the rest of the organization will come into line. Examine them. Interview them. Do your research. Some may be saved, others replaced.
Once you have good executive management they can help you with straightening out your other management and then down to the employees.
There is no point in trying to get the bottom-level workers into line if your managers are no good.
Because the business was bankrupt, an immediate priority is to organize your financing for the re-structuring. Your lawyer, CPA, and banker should be involved very closely in this process. |
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Joseph T
 |
First suggestion: Talk to the SCORE office in your area. 2nd -hire a business consulting firm that specializes in your type of business. It all depends upon what is causing the company to be unorganized - you need to identify the specific problem areas first, then work on the solutions. for this to work you need to create a new business plan.........there is no other way. |
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Chancho
 |
Keep the top 20% employees. Fire the rest. Re-hire good employees. Horizontal organizations are better and encourage communication. Great ideas die with middle management. |
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mind-scaper
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Hello. I would rehire the majority of workers that I felt suspicious about. Then reorganize certain aspects of business management and reacquaint myself with the problems that led to the bankruptcy. Then inventory and buy and sell needed and access equipment depending on what kind of company I bought. I would also see our clients and maybe get some feeders out for backups and safe bets for business. Employ stress relieving events and different, if needed, security plans for the staff. Taking care of that I would update any needed systems and clear unwanted history that would be bad for media attention. Other than that try to keep it relatively honest and stop any legally threatening situations. Bye. |
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thomas p
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I think you are saying your people bought the bulk goods of a company that went into a Chapter 7 bankruptcy discharge of its legal debts. Since your people bought the business or its assets with the cash going to the creditors, why did your company buy if they did not have a plan? Your question is very confusing to me. First, if I understand the facts, sell the assets that have no value to the production process. Such as paintings, decorations, wood furniture, and any excess property like computers that will not be in use. I assume that you will operating with a smaller number of employees. Dump the extra office and lunch room furniture. Dump any expensive automobiles and review the assets you purchased to find "fat" that can be sold. Crystal light fixtures? Dump them. Sell the commercial estate and lease back. Your job is to build up the balance sheet of the company. |
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Blueberryflowers
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I would call on some experts for help. |
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americanfreeman
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bring in my own staff and keep the productive, and move the rest.
I would have all that figured put long before I bought the company. |
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