There are so many concepts arising on a daily basis in this fast-paced business world, that sometimes we do not really understand exactly what they are refering to. With this in mind, we’ll explain one concept you might not know about it (or yes): Interim Management
Take notes cause, there we go!
What is Interim Management?
Interim Management is a service of Business Management for a limited period of time. This means, that a manager is hired by a company for a specific period of time with an assigned goal to achieve in order to manage the business throughout a transition period of time.
Interim Management is a management service hired by a company to manage a project or a specific circumstance
As we have mentioned, this new concept started to give answers to the needs that some companies might have to overcome certain situations, such as: internal restructuring, relaunching businesses, mergers, business crisis, etc. At the same time, it can be a great advantage for those companies with a small management structure that need a manager to run a specific business.
And, who is the Interim Manager?
The Interim Manager is a professional with a long professional career in business management and administration’s matters, who is hired by another company to manage, in general, exceptional and urgent situations. We could summarize it in someone that is an expert guiding change processes within companies.
Interim Manager is a professional who joins a company to guide a specific change process
Some of the value added factors brought by Interim Managers to the companies they are hired by are: objectivity, effectiveness, rapidity, return of investment, experience, quality, responsibility and commitment.
Take into account that if your company has a small management department and you need at some point a stronger support in managing a specific project, you could solve it by hiring an Interim Manager for a limited amount of time.
“Whenever you see a successful business, someone once made a courageous decision”.
Peter Drucker