Innovation management. Restructuring as a tool to increase the competitiveness of an organization (the most important)

Lecture notes, cheat sheets
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Innovation management. Restructuring as a tool to increase the competitiveness of an organization (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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49. RESTRUCTURING AS A TOOL FOR INCREASING THE COMPETITIVENESS OF AN ORGANIZATION

Translated from English, restructuring is translated as "restructuring! Something." Considering a company as a complex system, which is influenced by factors of external and internal environment, we will define the concept of "company restructuring".

The restructuring of a company is a modification of the structure of the company, as well as its components that form the business, in connection with factors of either the external or internal environment. It includes such actions as improving the management system, financial and economic policy of the company, its operations, marketing and sales systems, personnel management.

The underlying source for which firms are trying to restructure, as a rule, arises from the low efficiency of their activities at a certain stage, characterized by unacceptable financial performance of the company, insufficient working capital, and a high degree of accounts payable.

However, some successful companies often carry out minor structural changes. Using the restructuring of the firm, they want to get as a result of an increase in the competitiveness of the firm with a further increase in its value. Depending on the company's goals and strategy, one of the forms of restructuring is chosen: operational or strategic.

Strategic restructuring is a process of structural modifications aimed at raising the investment attractiveness of a firm, unlocking its potential to attract external financing and increase value growth. The implementation of this type of restructuring is aimed at achieving the goals of the company for a long time. The result of the successful implementation of this type of restructuring is an increase in the competitiveness of the company, an increase in the volume of incoming income, as well as an increase in the value of its own capital. The implementation of operational, strategic restructuring can affect both all components of the business system and its individual parts. Forms of restructuring are classified according to the scope of coverage of structural changes: partial and complex.

Restructuring is one of the most complex management tasks, this conclusion can be drawn on the basis of international practice and the experience of restructuring in Russia. In the process of restructuring, it is necessary to take into account a huge number of restrictions and the individual characteristics of the company within whose boundaries it is implemented. Therefore, it is necessary to conduct it, already having clear goals, the concept of restructuring, understanding each of its stages and methods by which it is necessary to act.

Authors: Evgrafova I.Yu., Krasnikova E.O.

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