Restructuring your company is a huge step that should be taken only after the deepest possible consideration. A proper restructure is a little like creating an entirely new company. Some companies do just that, only keeping the familiar name for branding purposes.
Knowing how to restructure is one thing, knowing when it is time to restructure your business is quite another. There are a number of factors to consider and no single article can list them all. It helps to narrow it down to a few key factors that will keep you focused.
There are a lot of things that happen in a business that can make you consider restructuring. Here are a few in no particular order:
All of these are serious problems, especially for enterprise-class businesses. But as CEO, you don’t want to hit the eject button too early. There are much less destructive ways to deal with those issues. Try them first. However, you might need to start with something bigger if you are having all of these problems all at once. Let’s take a look at a few of them and consider solutions other than a full restructure:
If you are having a problem with stagnation to the point that there are no clear paths forward, you might need new visionaries to spark a new vision. Task the keep people in the areas where progress has stalled to present plans, not just ideas, for moving forward. If they can’t produce workable plans, you need to replace them with people who can.
That is where something like Forum jobs can be a real lifesaver. You are not just filling a sales position or something in middle management. You need to make top-level changes that require top-level people. They’re out there and are probably working for some other company looking for their chance to make a real difference in their industry. To find them, search in the right places. Also, avoid the mistake of casting too narrow a net. Brilliant people do not usually come from cookie-cutter moulds. You will have to think outside of your box to find the people who can get you out of your rut.
Sometimes, damage to your corporate reputation can never be repaired. However, in most cases, there are ways to repair your damaged reputation. The key is to soberly assess the damage and stop the bleeding. When your reputation is taking a dive, don’t double down on anything until you know what the problem is. Don’t be belligerent and prideful. That form of pride at a time like that can make it nearly impossible to recover, even with a reorg.
Many companies deal with damage to their reputation by rebranding rather than reorganizing. Facebook has recently rebranded to Meta. Only time will tell if this move will work. While it is good to not mistake your product for the company, Meta moved from branding as one product to another. Mistakes were made with the rebranding although the strategy is sound. If the cause of the bad reputation can be traced to corporate structure, a reorg could be the only option. But before going that route, take a beat and discover the root of the issue. Humility will go a long way.
If you find that you can’t compete no matter what you do, the problem might not be corporate structure, but your vision. Some people hold on to their visionary idea as if it were a religion to be protected at all costs. What it typically costs is your business. Competitors are beating you because there might be something fundamentally unsound about your business idea, product, or strategy. It keeps losing because it can never win in the current market environment. Don’t reorg your business to keep a bad idea alive. Reimagine your idea.
There are times when a reorg is the only way forward. That time is when nothing you do can show you a path forward, overcome reputation damage, or overtake the competition.
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-advertisement | 1 year | Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
CookieLawInfoConsent | 1 year | Records the default button state of the corresponding category & the status of CCPA. It works only in coordination with the primary cookie. |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
__gads | 1 year 24 days | The __gads cookie, set by Google, is stored under DoubleClick domain and tracks the number of times users see an advert, measures the success of the campaign and calculates its revenue. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. |
_ga | 2 years | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. |
_ga_2DFKH2LM4H | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_93233250_1 | 1 minute | Set by Google to distinguish users. |
_gid | 1 day | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |
aigm_tracking_consent | 1 year | Created by Monster Tracking v2 for internal tracking/fingerprinting - determines whether the user has consented to being tracked by allowing cookies. |
aigm_tracking_id | 1 year | Created by Monster Tracking v2 for internal tracking/fingerprinting - contains the consent ID number of the user. |
Cookie | Duration | Description |
---|---|---|
IDE | 1 year 24 days | Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile. |
test_cookie | 15 minutes | The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. |
Cookie | Duration | Description |
---|---|---|
cookietest | session | No description |
GoogleAdServingTest | session | No description |