Managing Successful Turnarounds: Lessons from Global Companies

Abstract

Examines the key elements that are involved in managing successful turnarounds. An analysis of the turnaround strategies of more than ten global companies revealed that these strategies incorporated similar sequential processes: identification of problem and need for change; replacement of incumbent CEO; major cost‐cutting attempts; refocusing on core businesses, and reinvesting for the future.

Citation

Chan, P.S. (1993), "Managing Successful Turnarounds: Lessons from Global Companies", Management Decision, Vol. 31 No. 3. https://doi.org/10.1108/00251749310036315