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Leadership Tasks in the Three Stages of Recovery

The process for recovering from financial distress has three stages, as shown below.

 

Stages of Financial Distress Image

The Bridge Stage is about getting through the immediate crisis and creating breathing room to make more sustainable reforms. In the Reform Stage you carry out the short-term recovery plan and develop and implement long-term therapies. The Transform Stage is the institutionalization of long-term financial planning and becoming more resistant to financial distress and adaptable to a changing environment.

Each phase has different leadership tasks associated with it. This section of the site describes those tasks.

 
Go on to Leadership Tasks in the Bridge Stage

Return to Step 10 - Recovery Leadership