Page 15 - Stakis Consolidated Teaching Note
P. 15
Retrenchment:
• Pulled back to distinctive competencies.
• Portfolio restructuring. (sold nursing homes, centralised HQ functions)
• Requirement to cut costs, demonstrate prudence, remove perks (new
annual report printed in black and white to cut costs)
• Priority is money getting back to the banks. This must be communicated
to the right people, e.g. the city, shareholders. Previously there were “black
holes”.
NB – Some organisations cannot be turned around.
