Description
The Turnaround Experience traces the real-life cases of distressed companies over a long enough period to provide meaningful evidence about which strategies work-and which do not - in turning around companies in trouble. Most of the 16 cases were followed for at least 20 years. Now, companies in trouble and those who want to stay out of trouble can both benefit from the revealing experiences of nine companies that made it and seven that did not.
The book uses case studies to address concerns such as how to increase productivity, improve total product quality, satisfy wary consumers, while at the same time facing stiff competition-the same critical issues facing troubled companies all across the U.S. manufacturing sector. The commentary demonstrates how to:
โ Determine which strategies and tactics work and which most frequently fail.
โ Identify what managerial skills, character traits, and value orientations contribute to successful turnarounds.
โ Analyze the role of sales proficiency, financial acumen, and product development.
โ Develop action plans to retain and expand the customer base.
The Turnaround Experience reveals that successful turnaround managers tend to focus primarily on improving the firm's effectiveness as a low-cost provider of increasingly differentiated quality products and services by improving their companies in small increments. These successful managers tend to possess technical as well as managerial skills along with extensive experience in the industry being served.
Unquestionably, a weakened industrial economy diminishes the United States' ability to fund education, transportation systems, medical research, and public infrastructures. The powerful, empirically proven techniques and recommended action agendas in The Turn-around Experience are of vital concern not only to business managers and government policymakers, but to anyone interested in a sound new prescription for revitalizing the U.S. economy.
Learn which management techniques made the critical difference in the nine successful turnarounds. Heed the lessons mastered in hindsight from the seven failed turnarounds. ISBN:9780070728998
