because of the complexity and number
of issues that require discussion.
The articles on fundamentals cover
the main functional areas of finance,
human resources, legal, operations,
and marketing. These articles are,
of necessity, short and somewhat
superficial. For example, the key
functional areas of the financial aspects
of a turnaround are covered in only
five pages, while strategic marketing
challenges in a turnaround are discussed
in four pages. The key area of strategy
gives an excellent description of a
turnaround situation experienced
by the author, but does not provide
any strategic frameworks or tools to
enable a reader to develop a strategic
plan for the turnaround. These are,
however, found in other chapters.
There are several excellent essays in
the perspectives section of the book.
In particular, the essays discussing
legal and legislative requirements
contributed by several of the country’s
finest legal minds, together with
those on the valuation of a distressed
business and organizational politics,
are extremely valuable. The chapters on
turnaround techniques and tools, value
management, corporate governance
issues in business restructuring and
turnaround management, and early
warning signals in the implementation
section are also well worthwhile.
Thirteen case studies, covering
highly diverse sectors and industries,
provide opportunities to observe in
practice some of the problems and
recommendations contained in the
book. Eleven of the case studies are
written by the individuals who led
the turnarounds. The book’s final
conclusions and recommendations
are concise and helpful.
Small and medium-sized businesses
account for much of the employment
and job growth in most economies, but
seldom seem to receive the attention
they merit. This book includes two
Announcing a new leadership symposium.
May 14-16, 2013 | JW Marriott Chicago | Chicago, Illinois
TMA is bringing together current and future leaders in the corporate restructuring
and distressed investing industry for a new event this spring. Join your colleagues for
a unique opportunity to network and learn from other leaders in your industry.
The TMA Senate Co-chairs
Scott Eisenberg, Amherst Partners LLC
Pankaj Gupta, HIG WhiteHorse
Geoffrey A. Richards, William Blair & Company LLC
Learn more at turnaround.org.