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Closure (1)
CLOSURE (1)

Definition: The situation when a factory, school, hospital, etc. shuts permanently.
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* All ten elements should be in.


1. Purposeful (to emphasize, connect to #2).

2. Necessity, that is, action to shut place is approved and/or authorized. That is, there is a reason or justification for the occurrence.

3. Planned. That is, projections were made and event or occurrence does not therefore happen as a shock.

4. No issues are left unresolved after closure. That is, settlement of claims, compensation, relocation, etc. are all properly sorted out afterwards.

5. Alternative and effective arrangements are made for former employees, students, patients, etc. (to emphasize, connect to #4).

6. No unplanned loss results from the closure (connect to #5 & #10).

7. Closure is timely completed.
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LIKE A SHAKE-OUT.


8. Situation serves purpose(s).

9. Assets are sold off at competitive rates. Or disposed appropriately.

10. Proceeds from assets realization are properly handled by legal authorities, in such a way that no legal issues arise from the shutting of factory, school, hospital, etc.
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WORSE THAN A CLOSE-DOWN.

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