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

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Average Customer Review: 4 out of 5 stars

4 of 4 people found the following review helpful:

4 out of 5 stars

Turnaround tips for companies in crisis, 2007-04-12
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.

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