Is it necessary to restructure my company? Adapt to changes


Is it necessary to restructure my company?

Adapt to changes

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I have wanted to talk about the subject of business _restructuring_, as an interesting process, which makes many within the organization tremble with fear, but at the same time, it is a beneficial action that can restore work spirits and broaden the vision in the short term, medium and long term, by the CEO.

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The purpose of a restructuring, usually, is to adapt to the new times. A way to adapt to the reformulated rules or policies that contribute to the operation and the offer of improvements in the results in the face of new work circumstances.

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Adapt to changes

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Sometimes, this type of transformation is used within the corporation to try to rescue the financial part, which may have been deteriorated before the application of a previous economic model. It would not do much to resort to financial restructuring if working under a solvent scheme that generates liquidity for the company, since economic stability is somewhat fragile, subject to sudden changes and any false move could cause an economic turn.


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> The success of the organization is directly related to the managerial capacity of the administrative workers, as well as to the internal policies applied. Leaders must be able to diagnose their current reality taking into account strengths and weaknesses. Aspects related to human sensitivity, performance, strategy and forecasting must be considered.


Impact of COVID-19 on the economy

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The negative effects generated by COVID-19 on the economy have directly affected companies from an organizational point of view. Certain restrictive measures such as social distancing, confinement and the reduction of working hours have implied unforeseen expenses in the company, leading to more debt and less liquidity. Some problems for the acquisition of raw materials and the transport of items affect the production chain forcing emergency corrective measures to be taken.

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Correct and predict

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Many think that restructuring is moving the predominant positions where the greatest responsibility falls from their place, others think of rotating cycles of permanence, there is also talk of avoiding difficulties. But, nothing more certain is that the importance of restructuring is based on applying corrective and predictive measures that help to purify the heart of the organization.

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If for this, it is necessary to dispense with the ruling human resource, then the relevant procedures will be enabled to take action on the matter and make possible inquiries.


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Cryptocurrency offers solutions

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> It is known that many institutions have resorted to the adoption of cryptocurrency as a way to protect their capital and leave it exempt from possible devaluations, however taking into account that investing in crypto also carries certain financial risks due to fluctuation, this strategy can be incorporated as a form of restructuring as long as you have the proper professional advice.


Restructuring is a painstaking process

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Business authorities are generally subject to change without notice. It will be the results of their management that speak for them and not the nature of their hiring. Therefore, it should be a frequent task of the CEO, to be able to identify the weaknesses and strengths of the administrative processes in such a way that the modifications of the commercial strategy can be derived in time.

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It is important to effectively communicate to the interested party, as well as to external authorities, the intention to carry out restructuring, as there must be some flexibility and a deep ethical character to carry out such a delicate process. Even the personnel involved will have the right to make amendments or evaluation proposals, access to compensation, as well as have the right to a defense if the case warrants it.


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Conclusion

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Based on the need to transform and adapt to changes, the restructuring process offers solutions to the company as a low-cost corrective strategy with a deep moral character for the rescue of organizational functioning. In times of global economic crisis, such as the one we are experiencing today, reinventing yourself may be the most correct choice to survive the devaluation. Reducing costs and dispensing with hiring has been one of the most viewed scenarios in many companies and businesses, bringing devastating consequences to the family economy.

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This could be a sign that the organization needs to be restructured to get back on track financially. Meeting the needs of the worker and effectively performing the social role for which it was created is a business "duty".

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The final purpose of any organization is to adapt to the needs of human beings and guarantee its operation to provide its service to society.


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**@nachomolina
Original Content**
2021


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