International turn-around gurus describe how to rescue a company from the brink of disaster
Why, even in the best of economic times, do so many apparently healthy companies fail? The surprising answer offered by the authors of this breakthrough book is "denial," or more specifically, the inability of top management to acknowledge that they've been backing a losing strategy and to take the necessary, often traumatizing, steps required to set their companies on the right course. Using cogent case studies and lessons learned from working with Fortune 500 executives who have survived tough turnarounds, Pate and Platt vividly describe what happens when good strategies go bad. Drawing upon their experiences at top firms, they develop proven real-world turnaround strategies, tools, and techniques and show readers how to put them to work in their companies.
With so many businesses flopping in the current economy, Carter Pate, a veteran financial adviser and PricewaterhouseCoopers turnaround expert, and writer Harlan Platt offer counsel to those now teetering on the edge of disaster. The Phoenix Effect: 9 Revitalizing Strategies No Business Can Do Without walks executives, strategists and entrepreneurs through a thorough evaluation of their company. Whether the business needs an overhaul or tuneup, the authors detail how to determine its new direction, strengthen its corporate identity, negotiate restructuring and mergers and get the most from assets, employees and products. The book is full of examples of real-life success and failure at companies like Marriott, Laura Ashley, Netscape and CDnow. (Mar. 1) Copyright 2001 Cahners Business Information.