Dr Roger Stewart, businessman and historian
All businesses will come to an end, some precipitously, some gradually. This is an introductory course on turning around an established business that is on a trajectory of decline. The goal of intervention is to survive, revive and then thrive. Topics to be covered include the most common causes of decline and their diagnosis; the lead and lag indicators of an impending crisis; the duties and role of the board (or owners of an SME); dealing with providers of capital, creditors and employees; the value of outside assistance and when to invoke formal business rescue under the Companies Act. Finally, it provides a series of generic steps that can be followed and tools that can be applied in order to escape a trajectory of decline, to prevent commercial insolvency and avoid an irreversible crisis.