The change could be simple and complex:
- Simple could be in communication, motivation, more authority and higher targets to the staff concern.
- Complex change could affect systems, more than one staff, training, change in practices new models, new products or innovative systems etc etc.
- Best practices are the easiest: copy and paste
- Innovation in product development or business model development could be challenging.
IMPROVEMENT CHANGES AT ALL BUSINESS MODELS.
- Selling at the right price, volume, costs and targeting the right profit level. (cost volume profit analysis) MARKETING STRATEGIES
- Adapting the right trading strategies and providing enough working capital. TRADING STRATEGIES
- Adopting the right strategies in technology and asset investment CAPITAL EXPENDITURE
- Financing the above through balancing credit, loan and equity. SOURCES OF FUNDS
- Review and redefine corporate objective in ROE (Du Pont ROE Chart) ULTIMATE BUSINESS GOALS
- Linking the targeted with current position through projected cash flows while ensuring liquidity at all times. LIQUIDITY AND FUNDING STRATEGIES
- Prepare projected Income statement and Balance Sheet.
- Income statement could be drawn from step 1
- Balance Sheet could be drawn from Step 2, 3 and 4 ESTIMATE THE RESULTS