Business Restructuring: An Action Template For Reducing Cost And Growing Profit

Foreword by William K. Bischoff Chairman/CEO, FTN Equity Capital Markets Corp. An Action Template for Reducing Cost and Growing Profit Carla Zilka Business Restructuring Business Restructuring An Action Template for Reducing Cost and Growing Profit Carla Zilka John Wiley & Sons, Inc. Copyright © 2010 by Carla Zilka. All rights reserved. An additional copyright is held for Chapter 7 of this book “Leadership Essentials for Success” Copyright © 2010 by Keirsey Group, LLC. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011, fax 201-748-6008, or online at www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty:While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. For general information on our other products and services, or technical support, please contact our Customer Care Department within the United States at 800-762-2974, outside the United States at 317-572-3993 or fax 317-572-4002. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our Web site at www.wiley.com. Library of Congress Cataloging-in-Publication Data Zilka, Carla Business restructuring : an action template for reducing cost and growing profit / Carla Zilka. p. cm. Includes index. ISBN 978-0-470-50368-3 1. Corporate reorganizations. 2. Reengineering (Management) 3. Organizational change—Management. I. Title. HD58.8.Z548 2010 658.4'06—dc22 2009025217 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 To my parents, Jenny and Carl Zilka, who always told me I could do anything I put my mind to, and to stand up for what I believe, no matter how difficult it may be. Contents Foreword Preface Acknowledgments Chapter 1: ix xiii xvii Restructuring for Success: The 10-Minute Check 1 Why You Need to Restructure Are Your Key Financial Indicators Telling You Something? Notes Chapter 2: The Playbook: A Comprehensive Approach 13 Creating a Foundation for Success Flexible Platform for Achieving Results Chapter 3: Putting the Playbook into Action 29 Building A Winning Team Equipping Your Team With the Necessary Tools Note Chapter 4: Setting the Baseline Moving from Unconscious Incompetence to Consci