It is used if a company cannot independently overcome the crisis and measures are applied to it, prescribed by the arbitration court and designed to satisfy the demands of credit institutions. The bankruptcy procedure is regulated by law and includes the management of an enterprise that is in a critical situation.
At the initial stage of insolvency of legal entities, anti-crisis management includes analysis, external management and restoration of the financial position. At this time, measures are taken to restore the solvency of the organization in combination with operational work that helps proper management. The enterprise continues to function, but if its condition does not improve, the level of external management increases.
Anti-crisis management during bankruptcy proceedings is bankruptcy proceedings. If the enterprise is unable to restore financial stability, the insolvency process is transferred to bankruptcy proceedings, which leads to the liquidation of the business. At this stage, the enterprise ceases its core business and sells off assets to repay debts to its creditors.
Case: VT-metall
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Stages of anti-crisis management
Anti-crisis management is carried out in stages, which allows for a systematic and effective response to emerging threats. Each stage is aimed at identifying problems, developing solutions and implementing them to restore stability in the organization.
Step 1: Establishing the existence of a crisis
The way out of a critical situation begins with identifying problem areas in the organization's activities. When specific problems are found and it becomes clear why such an exacerbation has arisen, then you can begin developing an anti-crisis plan.
Step 2: Working with employees
The owner of the company must:
Conduct an analysis of employees’ KPIs and fire those who have proven themselves to be weak specialists.
Show the team the real situation of the company and prepare them for work in a crisis situation.
Create a favorable atmosphere in the team and resolve conflicts within the team.
Conduct retraining of employees.
Step 3: Reducing Costs
Cost reduction should not affect the quality of manufactured products or services offered. It is necessary to choose suppliers with loyal terms of cooperation or reduce the range of goods.
Step 4: Sales Promotion
To make sales more active and help the company get out of a difficult situation, you can hold sales and promotions, offer bonus programs. It is recommended to connect a CRM system to process incoming orders. Potential buyers wil