When firms are doing so badly
that failure seems imminent, only turnaround management can restore performance and
profitability. Chief executives, directors, 'company doctors', consultants and merchant
bankers (as well as investors tracking the progress of ailing businesses) can all
transform their effectiveness by understanding the basic principles.
The key to recovery lies in a
rigorous diagnostic review followed by a stabilization programme designed to take control,
overcome the immediate crisis and create cash (and a breathing-space) for building
long-term success.
'This is an ambitious book
which covers the full range of turnarounds/performance-improvement issues. It provides the
reader with clear insights into creating and implementing an effective turnaround' Peter
Smitham, Managing Partner, Schroder Ventures
A well-researchecLand
practical guide to the processes involved in rescuing companies which might otherwise
perish - should be a "must read" for all those professionals and executives
involved in managing and advising companies' Louis Franks, Investment Banker, HSBC
Investment Bank
'A comprehensive and logical
analysis of the problems associated with turnaround companies ...Turnarounds require
management writ large;
this is essentially a book on
management under stress' lan Hay Davison, Chairman, M.D.I.S. pic
'I believe this book by
Stuart Slatter and David Lovett will become acknowledged as the definitive manual on
Corporate Turnaround Management... found in every businessman's top right-hand drawer'
Bill McGrath, Chief Executive, British Gas Energy Centres