Corporate Turnaround

Corporate Turnaround - Stuart Slatter

When firms are on the brink of failure, only turnaround management can restore performance and profitability. The key is to provide stability and create cash (and a breathing space) for building long-term success. This fully revised edition provides practical advice on restoring confidence through effective leadership and planning. It highlights the importance of communication with stakeholders, staff, customers and suppliers, and how best to structure the capital base of an organization in order to fund recovery and future growth. Essential reading for chief executives, consultants and merchant bankers (as well as investors tracking the progress of ailing businesses), this book offers a definitive set of tools and techniques. 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. getAbstract recommends 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.