By your side, providing a steady hand.
Crisis management is the process by which an organization deals with a an emergency, a disruptive, unexpected and harmful event. It is distinct from a normal “performance improvement” initiative in that it is extremely urgent and requires proper handling to ensure the continuity of the company and the safety of its shareholders’ investment.
Four elements are common to a crisis: (a) a threat to the organization, (b) the element of surprise, and (c) a short decision time and (d) a clear need for change. While each crisis is unique, X-PM has developed frameworks on how to tackle them. For example, when dealing with a turnaround, we recognize that there are different levels of discomfort: some companies are in a downward spiral and have a long way to go before they become nonviable; others have almost reached the bottom of their downward trajectory. In these different situations, we will focus on different aspects of management (e.g. operations, financials, personnel, legal), develop recommendations, prepare action plans, seek board approval and finally deploy our own manager or team to execute the action plan.
Our crisis specialists benefit from the power of the global WIL Group network. We have a global talent pool of close to 50,000 seasoned management professionals in just about every industry, geography and functional specialty, many of them with extensive experience in managing crises of various kinds.
When dealing with a crisis, you are never alone. X-PM acts as your Crisis Management Team. We’ll work beside you to help you manage a crisis so that you can understand it, overcome it and put in place systems to avoid such situations in the future.
X-PM’s key advantage in tackling crises is our global talent pool of industry veterans who have “been there and done that.” When a steady hand is needed, companies that are in crisis, turn to us to fill interim management roles and get the job done.
Our experienced managers are dedicated to steering companies out of trouble, enabling them to quickly step in to fill Chief Restructuring Officer, Chief Financial Officer and Chief Executive Officer roles.
X-PM’s crisis management services:
- Deployment of key senior management executives within a few days or weeks
- Coordinating communication with board directors, officers, workers, lenders, vendors, investors, regulators, lawyers, and other parties
- Evaluation of key aspects of the business
- Development and execution of solutions
Benefits of working with X-PM to manage crises
- Quick reaction times
- Filling gaps of due to the departure of key managers
- Achieving optimal outcomes without bias to any interested parties