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| Ranjeet Paladugu |
Ranjeet Reddy Paladugu of Irvine, California is the CEO and founder of Specialty Holdings, an investment company that focuses on under-performing assets among other services. Ranjeet Reddy Paladugu’s extensive experience includes turning around under-performing assets. Center to turning around under-performing assets involves three central tasks. The first relates to communicating with stakeholders, devising one or two strategy changes, and finally, perfectly executing the plan. Communicating with the people who are invested in the venture is important, whether they are employees, investors, managers, creditors, and customers. More than just alerting them of the changes occurring in the business, communication instills confidence in those involved, and when dealing with employees, it increases their engagement. While external factors can influence a business, much of turning a business around relies on focusing on one or two key areas of necessary change. For example, a company that has taken advantage of the online landscape might consider building a website or researching social media. If the business is involved with investments, consider developing key partnerships as a strategy for turning the business around. Finally, hiring a chief restructuring officer (CRO) to execute these changes can facilitate a turnaround. The CRO works alongside the project management team to make sure that everyone involved with the changes stays on task.
