Strategies for corporate turnarounds: what do we know about them?

Article Abstract:

Results of a study of 17 empirical, theory-based studies concerning the implementation of corporate turnaround strategies are presented. Corporate turnaround is defined as a cycle of decline and recovery in companies' business performance. Internal causes of downturns are defects in management indicating a lack of: depth of management; expertise; and participative boards. External causes are classified into five groups, including: increased foreign competition; recessionary or inflationary cycles; and a decline in government demand or change in regulations. Five generic turnaround strategies are presented, including: the restructuring of leadership and culture; cost reduction; and asset redeployment. Four recommendations to improve future research of turnarounds are presented, including: research of turnaround implementation; enthnographic and retrospective historical studies; and the development of indicators of turnaround cycles. The policy implications for managers are presented, concerning the areas of: leadership; planning; and implementation.

Planning, Corporations, Corporate turnarounds, Turnaround management

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Leadership and strategy: making it happens

Article Abstract:

The quality of leadership and strategy are positively related. The study reveals that a strong leadership style had a greater impact of performance than a weak leadership style, and transformational and human resources style is best suited to overall performance.

Analysis, Influence, Management techniques, Strategic planning (Business), Leadership

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