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Dr Don ~ Damage Limitation
Dr Don Harradine - Money Talk’s 14:12:20
Dr Don talks about Damages Limitation:
Points to Follow:
Damage limitation goes beyond day to day running of a business. There is an absolute need to reassess the progress of the business and deal with problems early. Micheal Porter’s Five Forces model will help when considering ongoing business issues.
Dr Harradine has formulated a simplified symbol which can be used for considering problems with an ailing business. It is important to remember the facets have no formal order. Consider the phrases and formulate or expand them within a business plan or strategy.
Other aspects to consider when analysing a stagnate or failing business:
Debtor and Creditor lists
Stock used as a ‘Break Out’ strategy
Indications of problems ahead in time