Corporate Turnaround Artistry

How to steer your business through times of financial distress and achieve sustained profitability Corporate Turnaround Artistry is a complete guide for entrepreneurial companies in times of financial distress—presenting effective strategies and proven methods to revive and rehabilitate your business. Uncertain economic times have significantly altered the financial resources available to struggling businesses. Narrowing margins and mounting internal and external pressure has taken their toll on many companies. Fortunately, most businesses can be repaired while maintaining their existing revenue structure. Offering practical steps that go beyond simple cost-cutting and sales-building advice, this invaluable guide teaches you how to control cash, secure financial relief, and develop a comprehensive turnaround plan that your employees, customers, and creditors will support. Business leaders and entrepreneurs often fall into the trap of assuming new debt when tough times strike. Author and Certified Turnaround Practitioner Jeff Sands shows that to many struggling businesses, more money is no longer the answer to the problem. Expert advice on topics including cashflow stabilization, short and long-term profit sustainability, lean management techniques, and more, provides the framework to timely and efficient corporate turnaround. From identifying the initial cash crisis to meeting with creditors and developing a plan, this essential resource will help you: Stabilize your financial liabilities and re-structure your debt Implement effective turnaround strategies without significant changes to your corporate structure Preserve the positions of your current employees and their community Give yourself a fresh start with a lean and agile business Thousands of businesses fall into financial stress every year—oftentimes in sudden and dramatic fashion—leaving CEOs and owners asking the question “How do I save my business”? Corporate Turnaround Artistry: Fix Any Business in 100 Days provides the answer.

Leadership is never more crucial than when corporate survival is at stake. But the days of the tough guys are over. The leaders who are driving todays sustainable turnarounds understand that the answers to a distressed companys problems lie almost always within the firm itself usually at middle manager level and below. The secret is cooperation. Drawing on interviews with top company doctors and advisers, as well as on the authors own experience, Leading Corporate Turnarounds explores seven key leadership and management skills required for successful turnaround, and shows why quickly gaining the buy-in and trust of all stakeholders is the key to ultimate success. Written by the founding directors of the Society of Turnaround Professionals (STP), with a proposed Foreword by the Societys Patron Sir John Harvey-Jones Considers the different drivers of turnaround, the alternatives to it, and the restructuring processes required to move beyond crisis stabilization to sustainable change Features international case studies from leading companies including BT, Virgin Express, Arthur Andersen, Parmalat, GE, Lee Cooper, New Look and IBM

For the past thirty years, Steve Miller has done the messy, unpleasant work of salvaging America's lost companies with such success that the Wall Street Journal has dubbed him "U.S. Industry's Mr. Fix It." From his very first crisis assignment as point man for Lee Iaccoca's rescue team at Chrysler, Miller built an international reputation while fixing major problems in such varied industries as steel, construction, and health care. Most recently, as chairman and CEO of the bankrupt automotive parts manufacturer Delphi Corporation, he has confronted head-on the major issues threatening the survival of Detroit's Big Three. A battle is being fought in the heart of industrial America—or what is left of it—Miller observes. In the auto industry as well as every manufacturing corporation, management and labor are at loggerheads over wages and the skyrocketing costs of employee benefits. The way out of this battle is often painful and Miller is deeply aware of the high price individual workers and many communities have had to pay as a result. In this frank and unsparing memoir, Miller reveals a rarely seen side of American management. Miller recounts the inside story of the many turnaround jobs that have led to his renown as Mr. Fix It. But he also paints an intimate picture of his relationship with Maggie Miller, his wife of forty years, with whom Miller shares the credit for his success. Described by Miller as "my mentor and tormentor," Maggie served as his most trusted adviser and kept him focused on what truly matters until her death from brain cancer in 2006. A deeply moving personal story and timely snapshot of the state of American manufacturing and what it will take to restore it to profitability, The Turnaround Kid is Steve Miller's fascinating look at his education as an American executive.

When firms are on the brink of failure, only turnaround management can restore performance and profitability. The key is to provide stability and create cash (and a breathing space) for building long-term success. This fully revised edition provides practical advice on restoring confidence through effective leadership and planning. It highlights the importance of communication with stakeholders, staff, customers and suppliers, and how best to structure the capital base of an organization in order to fund recovery and future growth. Essential reading for chief executives, consultants and merchant bankers (as well as investors tracking the progress of ailing businesses), this book offers a definitive set of tools and techniques.

This Book will address all the rules that a leader needs to address the changing world that led to ever changing corporate dynamics and put so much pressure on financial balance sheets, P&L, people, customers, technology pipeline, efficiency, talent development and all what we took for granted for decades. The art of Turnaround (& disruption) are set of tested, validated and proved rules that leaders used over and over, some worked, and many others are lessons learned for what Not to do. Preface Chapter 1 - Cost Cutting Chapter 2 - Disruptions Chapter 3 - Post Pandemic Disruptions Chapter 4 - Key Performance Indicators Chapter 5 - Leadership Development Chapter 6 - Mindset Chapter 7 - Organization restructure Chapter 8 - Succession Planning Chapter 9 - Exit of Unprofitable Businesses Chapter 10 - Rebuild A-TeamAbout the Author Operations Director with successful track record at transforming under-performing global Fortune 500 companies into thriving and profitable enterprises. She is highly skilled at analyzing business performance, identifying areas in need of improvement, and delivering effective solutions that improve operational performance and business profitability. As an executive, He strives to empower teams to achieve a high level of performance and success. Sherif is fluent in getting customer feedback, developing customized client focused scenarios, building turnaround plans, leading cross functional teams, prioritization and EXECUTE. He is passionate about delivering Safest Operations and Highest Operational Efficiency and focused at building collaborations, agreement, and motivation in matrix teams including strategy development and execution, operations, legal, finance, supply chain, supplier management and marketing around the shared objective of leading profitable businesses. Expertise is informed by a solid educational foundation with an MBA from INSEAD, BSc. in Industrial Engineering and MSc. in Engineering Management.

This book argues that that the rise of great firms - those with sustainable high return on invested capital (ROIC) - will lay the foundation for China’s successful economic transformation. Drawn from the author’s research on corporate finance and the Chinese economy, the author maintains that being big could be easy but means little for corporate China, especially in the context of China’s transition from an investment-led economy to an efficiency-driven one. The work discusses both internal and external impediments that lead to lack of great companies in China and suggests institutional conditions which foster the rise of great companies in China, including, reversing the government’s obsession with GDP, reforming the financial system, and promoting entrepreneurship. Policy makers, investors, corporate executives, and MBA students and scholars will appreciate case studies of Huawei, Alibaba, Xiaomi, and Lenovo, among others, that illustrate the endeavors made by Chinese entrepreneurs at the grassroots level and highlight what makes successful companies in China.