Culture Clash
Learn to recognize the warning signs of a business on the verge of collapse.
Is your company headed for trouble? Long before a business fails, you can count on warning signs to start flashing. "If you have your eyes open and know what to look for, you can anticipate and avoid big problems," says Fran Lipson, a vice president and managing director with Boston-based Burke Strategic Consulting Group who specializes in turning around businesses that have hit a wall and are nearing collapse.
Although there's no disputing the role of shaky finances in small-business failures, there are other issues that may be equally important. "Human issues--problems in the corporate culture--can play a big part, too," says Lipson.
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