Business rejuvenation is the process of enhancing the top and bottom line performance of an organization through the application of new ideas and methods. This results in effective and efficient application of organization’s resources. An organization as it grows old becomes weak and sick and will stop making profits and eventually die if prompt action to treat it is not taken.
‘A corporation is a living organism; it has to continue to shed its skin. Methods have to change. Focus has to change. Values have to change. The sum total of those changes is transformation.’ Andy Grove
Bring fresh blood to the organisation
We can prevent the decline of our organisations through recruiting new smart people who will bring fresh blood to your organisation. This also improves the DNA of your organisation.
Symptoms of declining organisation performance
The symptoms of declining performance include the following among others;
- Declining market share,
- Declining profits,
- Negative publicity
- Low morale of employees
- Customer complaints
- Quality challenges
- Poor working management
- Uncontrollable external challenge
Actions to address the symptoms should be taken early enough to avoid compounding the problems. Business rejuvenation process is therefore action by management and staff to address the symptoms of sickness through prompt development and implementation of a rejuvenation program.
Internal reasons are at root of business decline
Businesses tend to decline in performance mainly due to internal challenges in the key areas of finance, operations, and marketing and sales. The internal challenges are within the mandate of management and staff to handle. Organisational decline can therefore be prevented if prompt action is taken by management as soon as the symptoms of decline are noticed.
John Muhaise Bikalemesa
Director: Big Drum Advisory Services Limited