Corporate restructuring often occurs when organizations encounter difficulties in the downturn in finance, revenue, or market shrinkage. Nonetheless, even at its most developed stage in the last 18 years, IEDG decided to reorganize the whole business operations. This restructuring process has taken place from November 2021 to March 2022.
The inevitable trend of digital transformation in the context of the Covid pandemic and the new development orientation has ignited an urgent demand for a flexible restructuring of IEDG’s internal system organization and sustainability to optimize operations and increase business efficiency. This restructuring began in November 2021 and has been divided into three phases. IEDG has completed Phase #1 with the adjustment of strategic goals, areas of operation, changing the brand identity, grouping member units, and identifying its target markets.
EDG will adjust the organizational structure in the second phase, which is expected to complete by the end of January 2022. These will include streamlining the personnel apparatus, adjusting the assignment of functions and tasks, adjusting the authority of departments and levels of management, and adjusting titles to suit the goal of reorganizing the operating apparatus to flexibly adapt to new strategies and the change of the business environment.
Streamlining human resources is critical for selecting the appropriate personnel to accompany and develop with the firm while also optimizing the budget for reinvestment in building business culture and working environments, enhancing employee wellbeing, and allocating priority resources to the System’s new business sectors.
In the third phase, IEDG will analyze policies for justifiable alterations and adjustments ranging from work procedures to regulations, as well as developing new employee welfare policies and implementing technology to business management processes and activities.
IEDG plans to begin implementing new projects after the completion of the reorganization process, concentrating resources on the enhancement of postgraduate education, consultancy services, food, and healthcare in order to meet revenue and growth objectives by 2025.
