Companies experience varying degrees of crisis, but without active crisis management, the consequences can be far-reaching because a lot is usually at stake in special situations.
The lack of a professionally managed restructuring or turnaround process can lead to the insolvency of the company with financial damage for the stakeholders involved. Additionally, it creates reputational risks for shareholders, the board of directors and the management.
The various crisis situations have one thing in common: There is little time to analyze the situation, to prepare the restructuring program and to implement restructuring measures.
It is essential to have all the necessary information available for analyzing the causes of the crisis. The crisis causes then need to be addressed suitably within the restructuring program. In the end, a professionally organized turnaround management ensures that the identified restructuring measures can be implemented efficiently and that the crisis can be overcome.
For the purpose of crisis management, internal and external communication must switch to crisis communication mode. This will ensure that the goal of restructuring the company is presented in a way that is appropriate for the target audience and that the stakeholders trust and confidence is restored.
In order to deal professionally and efficiently with the diverse problems of a corporate crisis, KPMG's Turnaround & Restructuring team specializes in analyzing each company's individual starting position, identifying areas and options for action, as well as developing, guiding and implementing the required measures for the operational and financial realignment.
