A Universal Definition for the Turnaround Industry
In today’s podcast Michael Fingland, from Vantage Performance, says we need potential clients to have a clearer understanding of what the Turnaround Industry is. He says there needs to be a better global definition that will encourage directors to seek help earlier. He says, “It’s what every financier, government department, every bank, lawyer, accountants, wants … for their client to seek help and not just muddle through and hope they get it right.” Right now, though, the definition of the Turnaround industry is focused too much on helping companies out of insolvency. The new definition needs to encourage earlier intervention and can apply to companies that might be underperforming but are a long way from becoming insolvent.
Listen to the podcast then see if you can help with a clear definition to the problem. Get in touch with your suggestions.