Strategic change in the turnaround process: theory and empirical evidence

Article Abstract:

Corporate turnaround theorists believe that strategic change is essential to the recovery of declining firms. On the other hand, findings of subsequent large-sample empirical researches show that strategic reorientation is not responsible for facilitating performance turnarounds for declining firms. Rather, these studies found that top managements' implementation of cutback or retrenchment strategies improve firm efficiency and productivity that eventually drive the declining firms' turnaround. To narrow the gap between turnaround theorists and empirical researchers, a theory-based model was developed and empirically tested. The proposed model suggests that the extent of strategic change initiated in a successful turnaround varies systematically with a declining firm's need and capacity to reorient its strategy.

Business Methods, Analysis, Business planning, Corporate reorganizations, Corporate turnarounds, Turnaround management

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Call for nominations: fourth annual Strategic Management Journal, Strategic Management Society/John Wiley & Sons Best Paper Prize, 1996

Article Abstract:

The Fourth Annual Strategic Management Journal (SMJ) Best Paper Prize will be conferred during the Strategic Management Society Conference in Nov. 1996 in Phoenix, AZ. Letters calling for nominations have already been relayed to SMJ Editorial Board Members and other scholars in the field of strategic planning although nominations from any interested scholar are also welcome. Eligible papers are those that were published in the SMJ before 1991, except for previous winners. Distinguished scholars in the field, the Associate Editors and Editor-in-Chief of the SMJ will make the final selection. Those who want to make nominations should submit the name of the author, title of the paper, date of publication and a short essay explaining the worth of the paper before July 20, 1996.

Achievements and awards, Strategic Management Journal (Periodical)

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