Can restructuring give business executives real control over their companies trajectories?
Goldstein: Restructuring can be the best option – and sometimes, the only viable one – for a company that has taken too many hits from an extended downturn. Still, it helps to remember that even in the best of times, a company has to work with the resources it has and the market as it exists. In tight economies, it is even more important to be proactive, to constantly monitor not just your company’s performance, but also the health of your competitors, clients and customers, and vendors and lenders. You should have a recovery strategy ready before you actually need one because it’s twice as tough to come up with alternatives when you are in the midst of a crisis. Davis: That’s right. A company also misses opportunities when it waits too long to implement substantive change. That’s why it’s so important to monitor the internal and external corporate environment closely. Let me emphasize that this means more than tracking changes; it means an ongoing, active reassessment of business plan
