Glossary
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Glossary

You may not be familiar with such terms as “interim management”, “transition manager” and “improvement plan”, so we have put together a glossary of some of the terms used within our business.

Performance improvement: see Improvement plan.

SWOT analysis: an analysis of the Strengths, Weaknesses, Opportunities and Threats to an environment, project or situation.

Coaching: a partnership with the customer, guiding them through a process which inspires reflection and creativity in order to maximise their personal and professional potential.

Team coaching: a global process which creates efficient, stable and inspired teams.

Operational diagnostics: an operational diagnosis conducted by Advice & Management forms the first stage of a mission. It is made based on in-depth interviews with company employees and using both qualitative and quantitative analysis; it takes into account all operational, economic and financial issues. It enables us to identify its strong and weak points and thereby draw up an Action Plan for improving the company’s performance and situation.

Crisis management: profits are falling and the company is going into the red. Company morale is low… Economic equilibrium and financial strength urgently need to be restored. Crisis management involves conducting a thoroughgoing diagnostic of the company’s strengths and weaknesses, identifying the major causes of the crisis, and resolving it by drawing up and implementing a recovery plan.

iMA: stands for Identify, Modify and Adapt.

  • i – Identify: an individual’s iMA colour
  • M – Modify: how to modify your message so that others will understand you
  • A – Adapt: the best method of interacting with someone.

Interim management: interim management is a business tool which can be used to provide a company with expertise which they do not (currently) have.

Interim manager: an interim manager is an experienced professional who provides companies with an expert service on an independent basis. The interim manager therefore takes up a position of responsibility for a specific period and within the scope of operational missions; in the course of this they may manage specific company projects or assume managerial control of the entire company or one of its divisions.

Transition management: transition management is a business tool for managing emergency situations. This directorship-level expertise can help to resolve the complex and difficult situations that can arise in the course of any company’s development.

Transition manager: transition managers have a broad-based array of skills and qualities. They do not have to be experts in their clients’ field to understand the issues they face. With their knowledge of regulatory processes, transition managers will carry out specific change, restructuring, transition, crisis and/or conflict management missions.

Positivity: is the potential of a team to create positive results and growth. It encompasses confidence, respect, team working, constructive interaction, ethics and optimism.

Improvement plan: company turnover is poor. Management are running out of steam. The shareholders are restless… An improvement plan can help a company restore its performance to required levels. The plan gives a detailed list of actions that need to be taken within various areas of the company.

Recovery plan: similar to the improvement plan, a recovery plan details specific actions to be taken within various areas of the company. It includes an assessment of projected economic and financial impacts and gives an implementation schedule.

Business recovery: see Crisis management and Recovery plan.

Meltdown situation: a company in a meltdown situation is one that is facing a poorly handled critical situation. Company activity is out of control, the company is no longer in charge of either its costs or its margins, cash flow is in crisis… The situation needs to be rapidly taken in hand.

Turnaround management: see Crisis management.