Turnaround Management Consulting

Restructuring your Business & Processes

As a Leading Turnaround Management Consultant in India , we believe that it is all about the restructuring and renewal of the business leveraging new models of analysis. Before the Covid, this strategy is employed when the business is under financial stress.  However, it is not necessary to wait till the situation becomes too complicated to commence the turnaround Management strategy, since most of the businesses need a post covid business strategy.

Bernard G Consulting

STEPS OF TURNAROUND MANAGEMENT

Define & Analyze | Scope & Strategy | Link & Action | Implement & Review

STAGES OF TURNAROUND MANAGEMENT

Evaluation and assessment | Acute needs stage | Restructuring | Stabilization | Revitalization

TECHNIQUES FOR TURNAROUND MANAGEMENT

The 4R - Retrenchment | Repositioning | Replacement | Renewal

HURDLES & CHALLENGES FOR TURNAROUND MANAGEMENT

Design | Execution | Marketing

Our turnaround consulting engagements help your organisation achieve rapid improvements in the financial health of your business and create a roadmap for a long-term sustainable growth.

To be frank, turnaround lessons aren’t just limited to the troubled companies. Business Turnaround opportunities exist everywhere—in retail stores, in healthcare, in product lines, in corporate divisions, in education institutions  and subsidiaries. In today’s competing world, your business or your services have to earn your right to compete every day, day after day to withstand. And the basics that  help you do that are the same ones that our turnaround consultants use to bring failing or failed companies back to life.

Clients
Connections
Team
Digital Transformation Consultant Bernard

At Bernard Consulting, we go an extra mile beyond the financial aspects of business turnaround and look at the greater strategic landscape to better position your organization for a return to growth.

In the past with our experience in multiple turnaround projects for our clients, we emphasize the importance of clear and coherent communication to a successful outcome of our Turnaround Engagement. That’s why our consultants design a we designed communication plan for each stage and every step of the turnaround consulting, ensuring you retain the loyalty of your own staff and the confidence of your customers throughout the process.

Every organization faces the challenge of accelerating change. We turn that challenge into an opportunity

Many businesses are on an endless hunt to find every incremental time and cost savings possible for their survival , but find that the low-hanging fruit has already been plucked and traditional continuous improvement methods dont wonrk any further after this pandemic. Business Turnaraound is not achieved by tweaking – it’s achieved by rethinking. Bernard Consulting’s approach brings together various heads from a cross section of your esteemed organization, communicate and bring them together into highly coordinated teams that move with urgency, agile, and creativity to challenge the traditional methods, break down the cultural barrier, and achieve 4X business results.

What we do in our Turnaround Consulting :

  1. Assessing and analyzing your company’s entire business process, objectively identifying problems, the extent of the problems, existing issues and potential opportunities.
  2. Once we get engaged, we work very closely with the relevant stakeholders to determine where you are and where you would like to be, we will only undertake a turnaround if we believe there is a sound underlying business to be turned around.
  3. With regular communication we put in great importance, not only on the implementation phase, but also on the continued monitoring and review. Data driven results are monitored on a regular basis with reported outcomes provided to all relevant parties.
  4. We help, guide and treat every client, their industry as unique and always maintain an impartial approach towards elevating the business and undertake strict levels of confidentiality.

Schedule your no cost initial strategy call to discuss your business and turnaround areas!

  1. To hear from you, what your most stressful pain points.
  2. An introduction of your business along with your objectives.
  3. If possible get specific regarding your major debts and vendor issues.
  4. A few details of your projected sales.
  5. A discussion on your audited your company’s profit and loss statements and formulation of big picture target cost structure / target profitability.
  6. Advising and introducing a high level strategy for turning around your business and returning it to profitability and growth.
  7. The investment of time required by your directors and management to implement the turnaround strategy.

Our Consulting Methodology

All About People’s consulting methodology consists of 5 phases.

Phase 1 – Discovery

This phase helps the business leaders set clear goals, consolidate efforts so far, and review past successes and weaknesses. If major changes are to be made, then you will need to clearly outline an action plan with specific, measurable, achievable, realistic, and timely (SMART) goals.
Discuss the issues you are actively attempting to fix as well as the opportunities you hope to seize. Then, rank each of these criteria according to priority—they will be the benchmarks you use to evaluate potential structural alternatives and then measure your success.

Phase 2 – Analyse

This phase assesses the environment in which the business operates, does and in-depth diagnosis of the company’s standing with reference against its main competitors and/or industry, and explores relevant trends and developments. Using various tools such as SWOT, PEST or 5-forces, the business will have a clearer picture of their competitive and operating landscape.
Our Business analysis is used to identify and articulate the need for change in how organisations work, and to facilitate that change. We identify and define the solutions that will maximise the value delivered by an organisation to its stakeholders. Our Business analysts work across all levels of an organization and may be involved in everything from defining strategy, to creating the enterprise architecture, to taking a leadership role by defining the goals and requirements for programs and projects or supporting continuous improvement in its technology and processes.
We have the specialized knowledge to act as a guide and lead the business through unknown or unmapped territory, to get it to its desired destination. The value of this analysis is in realisation of benefits, avoidance of cost, identification of new opportunities, understanding of required capabilities and modeling the organization.

Phase 3 –Audit and Reporting

This business audit and reports are a documented evaluation of whether or not a company’s financial statements are materially correct along with the standards, evidence, and assumptions used to conduct the audit.
The results are reported in a written audit opinion, and the language in the opinion defines an audit. Financial statements : An auditor reports whether or not the financial statements are free of material misstatement. In this context, the word “material” means an error or missing information that is large enough to impact the reader’s opinion of the financial statements.
An audit is designed to identify financial statement errors. Regulatory requirements : The financial statements must be prepared based on a set of accounting rules. For-profit businesses must use Generally Accepted Accounting Principles (GAAP), while governmental and not-for-profit firms use different sets of accounting rules. The audit opinion states that the financial statements were prepared in accordance with a specific set of rules. Internal controls: Finally, most audits require an auditor to assess the effectiveness of internal controls .
These controls are put in place so that the business can produce accurate financial statements, and prevent assets from theft. If there are weaknesses in any internal controls, the auditor must disclose the weaknesses. Stakeholders—including investors, creditors, and regulators—rely on the accuracy of financial statements. An audit is performed to provide a higher level of financial assurance to stakeholders.

Phase 4 – Strategy & Road Map

The purpose of a business roadmap is to visualize exactly what is needed to transform a company's vision into reality. It is flexible and can be as detailed or abstract as you need it to be, depending on the phase of business maturity. Your business roadmap is action- focused.
This phase supports the company’s strategy in choosing a small but definite set of actions that will help the company navigate over the next few years and catapults the business into sustained growth. We will use tools such as the BCG Growth Matrix or the Product/Market Grid where necessary to help understand which ideas and actions will have the most impact, and help the business focus its efforts.

Phase 5 – Implement & Review

This last phase is critical as it ensures the ideas and initiatives are built into operation procedures with accompanying measurement tools to allow the business to keep track of it’s progress. Where necessary, assist the company in adopting other Business Excellence frameworks to ensure effective and efficient management processes are in place.
These phases operate in a cycle and the business leaders will be coached with the ability to regularly go through the different phases to ensure continued and sustained success.

We study all the verticals within this business to identify the Business Turnaround

Potential and way forward. This turnaround consulting involves the understanding and restructuring of the following:

Business Model / Performance and Strategies
● Marketing Strategies
● Management Processes and control
● Money Flow / Profitability and Potential
● Expenses and Potential control
● Potential Business Possibilities and Strategies
● Measures for enhancing the Business and Profit Growth

Includes:

Market Analysis
What we do here in Market analysis, is a procedure of assessing and identifying various internal and external factors and conditions in a market within a specific niche. Essentially, the key insights that are gained from market analysis relate to:

● Evaluating the market size;
● pointing growth trends;
● Defining and learning about the target audience;
● Getting an in-depth look at the competitive landscape; and
● Identifying business goals.

How do we Conduct a market analysis of that business, and its benefits?
Carrying out market research of that business enables companies to stay informed on the latest market trends of their own business, their audience’s new buying habits, evolving technologies, and competitor activity. To be more specific, it allows businesses to uncover:

● What products and services are already popular within your target market? that particular business;
● Which competitors are employing the most efficient marketing mixes to offer these products and services;
● Whether there are any gaps or opportunities within your niche that will allow you to fine-tune your products and services and get a share of customers’ attention;
● What other factors outside of competition and demand can impact your business’s success or failure.

On top of these benefits, our market research provides a data-driven approach to creating a high-impact and realistic plan for better business and marketing decisions and strategies.

Risk Mitigation Strategy

We follow five risk mitigation strategies:
Appropriate risk mitigation involves first identifying potential risks to a business—like team turnover, product failure or scope creep—and then planning for the risk by implementing strategies to help lessen or halt the risk. The following strategies can be used in risk mitigation planning and monitoring.
1. Assume and accept risk
The acceptance strategy can involve collaboration between team members to identify the possible risks of a project and whether the consequences of the identified risks are acceptable. In addition to identifying risks and related consequences, team members may
also identify and assume the possible vulnerabilities that risks present.
2. Avoidance of risk
The avoidance strategy presents the accepted and assumed risks and consequences of a project and presents opportunities for avoiding those accepted risks. Some methods of implementing the avoidance strategy involve planning for risk and then taking steps to avoid it. For example, to mitigate risk of new product production, a project team may decide to
implement product testing to avoid the risk of product failure before the final production is approved. The following examples are other ways to implement the avoidance strategy. Risk to performance

3. Controlling risk

Team members may also implement a control strategy when mitigating risks to a project. This strategy works by taking into account risks identified and accepted and then taking actions to reduce or eliminate the impacts of these risks.
4. Transference of risk
When risks are identified and taken into account, mitigating the consequences through transference can be a viable strategy. The transference strategy works by transferring the strain of the risk and consequences of another party. This can present its own drawbacks,
however, and when an organisation implements this risk mitigation strategy, it should be in a way that is acceptable to all parties involved.
5. Watch and monitor risk
Monitoring projects for risks and consequences involves watching for and identifying any changes that can affect the impact of the risk. Production teams might use this strategy as part of a standard project review plan. Cost, scheduling and performance or productivity are all aspects of a project that can be monitored for risks that may come up
during the completion of a project.

Our Tools and methods we follow:

Market Risk Mitigation Analysis - Current / New Customer Vs Current / New
Services Analysis
● Business Development Analysis
● BHDH – Analysis
● EBIDTA Ratio
● Profit & Loss Analysis
● Balance Sheet Analysis
● Cash Flow Analysis

Different ratios are used to analyse the financial performance of MHS & NS which
are as follows :

● MIS based P & L model
● Asset Vs Turnover ratio
● VAPCOE (Value addition per cost of employee)
● ROI (Return on Investment)
● Debtors ageing analysis
● Creditors ageing analysis
● Brand Audit
● Digital Asset Audit

About the Company

Describe company and services currently offered The 3 years business impact projection are as follows:

Year FY2022 FY2023 FY2024
Revenue ($)
Net Profit
Renumeration
Depreciation
Total manpower
Local manpower
Foreign manpower (EP)
Foreign manpower (FP/WP)
No of PMET’s
No of non PMET’s

About the Project
a. Describe the current state of your business operations or processes.

b. Describe challenges or opportunities. Use figures where possible.

c. How will the project address the above challenges/ opportunities?

d. Describe the reasons for your choice of consultant and/ or solution provider (if
applicable).

All About People is a consultant and solutions provider that we are confident has a clear understanding of our business, the education industry in Singapore, and be able to help us succeed. All About People understands our business from both a professional and personal level. Considering our familiarity with All About People and their quality of work, we had made the executive decision to work directly with Gilbert and his team on this
business strategy project without the need for an alternative.
Expected Project Outcomes
a. How will this project help your company build new capabilities and contribute to your growth and internationalization plans?
The outcome of this study is aimed at proposing policy measures for the better performance of these companies in order to define and make way forward to achieve
the business & financial goals

b. List the quantitative outcomes and qualitative outcomes.
We expect the potential quantitative value add to our overall business for the next 3 years as follows:

Year 1 2 3
Potential value add
xxx
xxx
xxx

Qualitatively, this project will provide us an unbiased comprehensive analysis of our organisation and form the basis of a business strategy roadmap we may take.

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