What is a Crisis, Turnaround & Interim Management Service?
Interim short term management is a concept that dates back to the 1970s in the United States and provides a method to quickly have management in place within days/weeks as opposed to months using the traditional hiring methods. Interim managers most likely will be more qualified than the normal hire for a particular position and, based upon their prior experience of similar challenges, are equipped to have an immediate effect and be productive from the outset. Interim managers are normally well versed in business turnaround and the resulting turnaround services involved in interim management.
A crisis is a major, unpredictable event that threatens to harm an organization and its stakeholders. Although crisis events are unpredictable, they are not unexpected and can affect all segments of society-businesses, churches, educational institutions, families, non-profits and the government-and are caused by a wide range of reasons. Although the definitions can vary greatly, three elements are common to most definitions of crisis: (a) a threat to the organization, (b) the element of surprise, and (c) a very short decision time. Bizarre crisis are a one-of-a-kind crisis which has never been anticipated and for which there is no plan of action; Perceptual crisis are long-running problems which for whatever reason has been allowed to continue because of management’s failure to address the crisis and take appropriate steps to resolve it. Crisis management consists of skills and techniques required to assess, understand, and cope with these serious situations.
Many types of business situations can result in the need for interim short term management services; typically, these situations are a corporate or major individual project crisis as described above, a sudden departure of a senior manager either through resignation or termination, a Board of Directors decision to “go in a different direction”, a death, an illness, or issues that arise during a transition, a merger or an acquisition. Mr. Charles has previously served as a C-level executive (CEO, COO, CFO) totaling 20 plus years in 4 different companies with his latest assignment being the interim Chief Operating Officer of a sub-contracting fabrication-manufacturing company. When he began that assignment, the company had fewer than 100 employees & sales of about 29 million USD with EBITDA losses at about 3.5% of gross billings. When the interim assignment was completed, the company employed over 135 people, had sales of 45 million USD and EBITDA profits exceeding 10.5%. The company was able to reduce hourly production costs by 20% & to diversify its customer base resulting in spreading risks over a wider project range.
Mr. Charles has over 30 years experience in the manufacturing, distribution, construction, metals, consulting and steel fabrication/erection industries both in the USA & Central America. He is a very detailed person and his strengths include crisis, restructuring, construction & turnaround services and management with troubled companies & then positioning those firms for buy-out including working with them to locate a buyer & finalizing the sale. He has extensive experience & training in dispute resolution & successful settlement negotiations having successfully bid hundreds of millions of dollars worth of contracts or subcontracts and carried those bids to finalization by negotiation of a contract.
Lyle Charles has worked with some of the world’s largest construction companies/construction managers as an advisor or as a subcontractor or material supplier. He has successfully worked with financial institutions & investors to develop lines of credit/working capital. The management of difficult, tight budgeted & time sensitive complex projects is an accepted challenge. Strong management belief in a focused marketing approach (i.e. go after business that you do best), in furnishing a quality product meeting the customer’s needs (i.e. quality assurance of the highest standards), in a team effort (i.e. everybody needs to be on same page) & a remembrance that “this is a for profit business. If you’re seeking construction advisory services or turnaround management services, please contact Mr. Charles to discuss you situation.
Business coaching is the practice of providing support and regular advice to an individual or business in order to help them recognize ways in which they can improve the effectiveness of their business. Business coaches work to improve leadership, employee accountability, teamwork, sales, communication, goal setting, strategic planning, and more. It can be provided in a number of ways, including one-on-one sessions, group coaching sessions, and large-scale seminars.
Business coaches are often called in to provide turnaround services when a business is perceived to be performing badly. However, many businesses recognize the benefits of business coaching even when the organization is successful and often schedule regular sessions for the purpose of having a coach provide a second opinion or confirming opinion. Coaching is not restricted to business turnaround situations; it can be helpful at any time.
Business management coaching often helps businesses grow by creating a structured, strategic plan that the business can follow to achieve agreed-upon goals. Lyle Charles Consulting offers business coaching services to business owners who may not be able to afford large coaching firm prices.
Normally, coaching sessions are on a regular schedule of once or twice per month.
Negotiation/Dispute Resolution Services
Negotiation is normally between the parties in a dispute and does not involve a neutral third party. Mr. Charles offers negotiation coaching to individual parties in a dispute including attending & assisting those parties in settlement meetings.