jaylar
In some cases, a business maintains an archaic management structure. This is often true of ‘legacy’ businesses.
Grandpa started the company in 1930, Dad took it over in 1960, son came into power in 1990 and there has been no alteration in the way the business was structured.
Modernisation is necessary to take into consideration the current climate, with its technological advancements, attitude of consumers, and revenue producing methods.
The ancient methods cause a great deal of difficulty, for they can not quickly be dismantled and restructuring take place.
In some cases, selling the business is the wisest and most lucrative method. The new owner will institute his/her methods. In others, a step by step process must be carefully implemented and paused to insure that what has been changed does not negatively impact the consumers.
As is evident, the reasoning selling is mooted first is because it is much easier to start from scratch then to make changes.
To not make changes will often lead to the bankruptcy of the business when a competitor arrives.
And as any business consultant will know, the dinosaur business is a ‘free lunch’ for a competitor. Customers are already in the vicinity. They can easily be lured by clever architecture, more pleasant staff and displays, and various discounts.
