Available at: https://ssrn.com/abstract=5167034
Abstract:
The rise in corporate bankruptcies across various sectors and business sizes in the United States highlights the importance of financial consulting as a fundamental tool for ensuring business sustainability. This article explores the role consulting can play in bankruptcy prevention, offering a detailed analysis of the economic landscape, emphasizing the significance of micro and small enterprises, and illustrating how financial consultants can assist with restructuring, strategic planning, and risk management. It also discusses the growing influence of emerging technologies such as artificial intelligence, process automation, and data analytics-on consulting processes. The article concludes by demonstrating that financial consulting, together with sound governance practices and long-term strategies, can be decisive in maintaining company competitiveness and survival in a business environment marked by challenges and uncertainties.
Commentary:
I'll make like Walt Whitman and contradict my repeated position that requiring that consumers take a credit counselling course before filing bankruptcy is a foolish waste of time and money, by whole-heartedly endorsing the idea that Tall Building Lawyers should be forced to have their clients watch a video on business sustainability before filing their Chapter 11 case. Or maybe it's just a terrible waste of time and money for everyone, whether a fake or real person in bankruptcy.
With proper attribution, please share this post.
To read a copy of the transcript, please see:
Blog comments