• Which parts of the business are growing? Which are shrinking? How do you respond to both?
• Does your business evolution require new capabilities? If so, do you have a strategy for putting these capabilities in place?
• What is the acceptable pay-back time for any restructuring programme in your business?
• What should your future organisation look like in its customer-facing activities?
• Should you explore alternative channels of distribution to optimise customer reach?
• Is there scope to rethink your support structures? Are they providing you with the mix of cost efficiency, speed and customer orientation that your business requires? Have you benchmarked these features against your competitors?
• Is there an opportunity to rethink your operating principles to reduce costs through virtual teamwork, outsourcing and/or centres of excellence?
• Is your business operating in multiple jurisdictions? If so, have you thought through the differing legal requirements which restructuring activities prompt in these locations?
• Do you have an overarching commitment to consistent treatment of employees?
• Have you consulted appropriately at international level as well as at local levels?
• How do you plan to maintain engagement levels in your business? Have you considered the retention challenges that may be prompted by restructuring?
• Are the challenges and associated time-frames you are setting out for your business attainable?
Do you have clear measures in place to ensure that you can respond swiftly to downturns in engagement levels within your business?
You may also want to read:
– 10 guiding questions to help restructuring initiatives
– Restructuring checklist #2
– Restructuring checklist #3