Companies experiencing distress or crisis need to proactively manage their stakeholders including lenders, equity providers, customers, suppliers, credit insurers, rating agencies, regulators, pension trustees and employees. Each group will have different levels of concerns and aspirations and require careful management. The provision of appropriate information and messages at the right time in order to secure their ongoing support is essential.
During such periods management is faced with multiple challenges and demands on their time and resources and are usually well outside their zone of comfort and situational experience. Understanding the mindset and objectives of key stakeholders and providing appropriate support and advice is critical in underpinning the agreement and implementation of a workable plan.
Understanding how major stakeholders and groupings think and act in such situations is therefore critical and our extensive situational experience and relationships are immensely beneficial in advising, supporting and prioritising management toward its goals. Our presence also brings a high degree of reassurance to the stakeholders themselves, who are usually highly supportive of seeing the management team in 'safe hands'.