Very few companies implode like a supernova. In the vast majority of
cases the distress signals are visible for some time before the flame out.
There are many tell-tale signs such as consistent abuse of payment terms,
erratic ordering patterns and lack of response to emails or calls. These are
early warning signals.
When faced with mounting problems it is highly likely that the solutions
will of necessity be painful. However, radical and decisive surgery is often
the only way to ensure a patient’s survival.
Unfortunately many companies adopt the Mr Micawber attitude that
“something will turn up”.
In the overwhelming majority of such cases the only people likely to turn
up are the administrators/liquidators.
Be it merely inertia or fear of addressing the problem issues the outcome
will inevitably remain the same.
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