Exit Planning

Question

Write some features of Exit Planning?

Answer 1

1) As important as planning an entry strategy in fact far more complex at times as managing bad times can be far harder than managing good times and consequences could be worse than entry failure.

2) Reason for exit must be clearly defined and communicated – transparent/strong sound/explainable.

3) Risk management plays a huge role in an exit strategy and risks must be identified charted on a risk log and negated through planning after analysis.

4) Proactive, factual an concise stakeholder communication is vital at all levels–open and transparent–trust and faith in management presiding over exit is essential by all stakeholders.

5) Exit in terms of a fixed plan and objectives–project plan to manage exit is vital to cover all aspects to ensure exits goals are met timeously and within expectations–leases, permits, regulatory authorities etc. must also be considered as opposed to just the obvious high profile activities

6) Exits are costly and fraught with hidden costs-full budget with all scenarios to be prepared and monitored against envisaged plan–cost savings, asset disposal, leasing, collections etc.

7) Exits always have direct causalities and collateral damage to all stakeholders and care must be taken not to burn bridges in the haste to exit – planned/orderly/controlled exit limits damage and fallout in the long term–exit whilst often a short term initiative caused by immediate forces/pressure has long term ramifications & consequences.

8) Exit must be seen as a positive in that it will ensure company security and viability long term–must be managed as a positive despite the negative connotations associated–tactical exit to ensure we live to fight another day.

9) Help stakeholders when you can–time.