Publisher's Synopsis
Business crisis can be seen from two aspects: on the one hand, it is the consequence of unfavorable results resulting from the mismanagement of the business group unable to take into account internal and external dynamics, thus leading to the deterioration of the enterprise; on the other hand, it is seen as an opportunity for renewal for new opportunities. Decline is the last phase of a company's life cycle, a phase in which the first imbalances and inefficiencies arise, due to product obsolescence, rising costs, decreasing revenues due to reduced sales, thus reaching a significantly chronic deterioration. Effective and timely action must be taken to deal with this, otherwise a state of insolvency is reached. A state of insolvency is when one can no longer pay debts regularly. Incurring debts for a business is business as usual, but when you have too many there is a risk that you may not be able to satisfy your creditors. The consequences of this could lead to irreversibility and thus bankruptcy.
