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Leading Corporate Turnaround: How Leaders Fix Troubled Companies, by Stuart Slatter
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Leadership is never more crucial than when corporate survival is at stake. But the days of the tough guys are over. The leaders who are driving today’s sustainable turnarounds understand that the answers to a distressed company’s problems lie almost always within the firm itself – usually at middle manager level and below. The secret is cooperation. Drawing on interviews with top company doctors and advisers, as well as on the authors’ own experience, Leading Corporate Turnarounds explores seven key leadership and management skills required for successful turnaround, and shows why quickly gaining the buy-in and trust of all stakeholders is the key to ultimate success.
- Written by the founding directors of the Society of Turnaround Professionals (STP), with a proposed Foreword by the Society’s Patron Sir John Harvey-Jones
- Considers the different drivers of turnaround, the alternatives to it, and the restructuring processes required to move beyond crisis stabilization to sustainable change
- Features international case studies from leading companies including BT, Virgin Express, Arthur Andersen, Parmalat, GE, Lee Cooper, New Look and IBM
- Sales Rank: #961535 in Books
- Published on: 2006-02-03
- Original language: English
- Number of items: 1
- Dimensions: 9.27" h x 1.02" w x 6.40" l, 1.09 pounds
- Binding: Hardcover
- 248 pages
Review
"...provides several striking examples of corporate turnarounds in recent years..." (Financial Times, April 2006)
"...describes real life turnarounds more extraordinary than fiction..." (The Financial Director, June 2006)
From the Inside Flap
Having published the extremely successful Corporate Turnaround (Penguin 1999), which talks about what to do in a turnaround, the authors decided that they would undertake a new research project to better understand the current role of leadership in turnaround situations. 75% of Society of Turnaround Professional members were interviewed and a further 10 interviews were carried out with non-members.
"An incisive and instructive book firmly based in the (very) real world."
—Jon Moulton, Managing Partner, Alchemy Partners LLP
"As operationally focused investors, time and time again we see the importance of leadership to the success of corporations, and particularly to companies experiencing some form of distress. This book will be of use not just to turnaround practitioners seeking to develop their leadership skills, but also to the stakeholders whose job it is to identify and recruit the high quality leaders needed for corporate success."
—Huw Phillips, Principal, Clayton Dubilier and Rice
From the Back Cover
Leadership is never more crucial than when corporate survival is at stake. But the days of the tough guys are over. The leaders who are driving today’s sustainable turnarounds understand that the answers to a distressed company’s problems lie almost always within the firm itself usually at middle manager level and below. The secret is cooperation.
Drawing on interviews with world leading, international company doctors and advisers, as well as on the authors’ own experience, Leading Corporate Turnarounds explores seven key leadership and management skills required for successful turnaround, and shows why quickly gaining the buy-in and trust of all stakeholders is the key to ultimate success.
"This is an admirable guide to the increasingly specialized business of corporate turnaround; I wish I had it when I started at BT in 2001."
—Sir Christopher Bland, Chairman, BT Group
"Why wait for a crisis to hit before reading this book? There is so much good material here which can be used preventatively to stop your company going to the brink. If I had this book available when we faced our turnaround, I have no doubt that I would have moved faster to tackle the problems! This book is a must even for those seeking to stimulate change before the crisis begins."
—Patrick O’Sullivan, Group Finance Director, Zurich Financial Services
"This well researched analysis of the characteristics of leadership in turnarounds is a valuable and timely successor to Corporate Turnaround. It should be essential reading not only for those involved in company rescues but also for those who want to learn about crisis leadership without experiencing it themselves."
—Paul Thompson, Head of Lending Services, HSBC
Most helpful customer reviews
0 of 0 people found the following review helpful.
Book received in Excellent Condition
By Krystal Khadine George
Excellent condition
6 of 6 people found the following review helpful.
Turnaround tips for companies in crisis
By Rolf Dobelli
Managing a successful turnaround is tough, and it requires tough actions by "company doctors" who gallop in to rescue companies from the brink of financial death. Although most management projects require subtlety and tact, turnarounds need quick, blunt actions, such as firing top managers or selling unprofitable divisions. Stuart Slatter, David Lovett and Laura Barlow present a blueprint for people engaged in turnarounds. Using interviews with 80 turnaround specialists in the United Kingdom, the authors make their point - often more than once. The most interesting and useful parts of this volume are the short, boxed case studies in each chapter. We recommend this informative book on a little-known business topic to creditors, attorneys, accountants, venture capitalists and curious managers, as well as to specialized consultants who may become involved in turnarounds.
1 of 1 people found the following review helpful.
Good book covering all the basics corporate turn around
By Amazon Customer
This is quite a specific book on a specific subject and part of the message is that corporate turnaround should be left to specialists of the matter - the authors have founded a professional organization to group the specialist turn-around executives. That said, the insights are great; and the real-life examples from the first half of the 2000's quite enlightening. Having been in one of these companies it is great to know what happened behind the curtains!
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