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1
Khandwalla, Pradip N. "Humane Turnarounds." Vikalpa: The Journal for Decision Makers 16, no. 2 (April 1991): 3–18. http://dx.doi.org/10.1177/0256090919910201.
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Rampant industrial sickness has become a characteristic feature of the dynamics of rapid industrial development in both the developed as well as the developing economies. However, in the context of developing economies, there is an urgent need to revive sick organizations given the reality of an acute resource crunch. It is in this context that the development of a relevant model of turnaround management becomes significant. In this article, Pradip N Khandwalla describes the significant elements of a humane brand of turnaround management based on his analysis of the experiences of several corporate turnarounds.
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Khandwalla, Pradip N. "Creative Restructuring." Vikalpa: The Journal for Decision Makers 26, no. 1 (January 2001): 3–18. http://dx.doi.org/10.1177/0256090920010102.
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In the context of liberalization of globalization of economy, the changes required in the functioning of corporates need to be vast. Corporate restructuring has become an important means for achieving such changes in India and elsewhere. The restructuring paradigm of western international management consultants (WIMCs) has come into vogue among large Indian public and private corporates. One major restructuring choice is between the WIMC paradigm and a creative, participatory, largely self-help mode of corporate restructuring. Creative restructuring is illustrated by three case studies. Another major restructuring choice is between creative and non-creative modes. Based on a study of 120 turnarounds from a number of countries, 42 creative restructurings for turnaround are contrasted with 47 non-creative restructurings for turnaround along 14 categories of turnaround action. The necessity of creative, participatively improvised restructuring to institutionalize adaptive capabilities and achieve quantum leap in corporate excellence in a hyper-competitive environment is highlighted. Several steps are suggested for practitioners seeking effective creative restructuring.
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Schmitt, Achim, and Sebastian Raisch. "Corporate Turnarounds: The Duality of Retrenchment and Recovery." Journal of Management Studies 50, no. 7 (August 30, 2013): 1216–44. http://dx.doi.org/10.1111/joms.12045.
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Whittington, Richard. "Book Reviews : Pradip N. Khandwalla: Innovative Corporate Turnarounds." Organization Studies 15, no. 5 (September 1994): 783–86. http://dx.doi.org/10.1177/017084069401500510.
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Oliver, John. "Is “transgenerational response” a hidden cause of failed corporate turnarounds and chronic underperformance?" Strategy & Leadership 45, no. 3 (May 15, 2017): 23–29. http://dx.doi.org/10.1108/sl-01-2017-0006.
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Purpose CEO turnover and chronic corporate underperformance are examined through the lens of Transgenerational Response. Design/methodology/approach The criteria for investigating Transgenerational Response in corporations consisted of identifying a Critical Corporate Incident, the number of corporate generations and the resultant corporate financial performance. Findings The evidence presented in the case studies illustrates how a Critical Corporate Incident has produced the consequential effect of chronic financial performance in the years following the incident. Research limitations/implications These case studies have not presented the “actual” adaptive responses, inherited attitudes and behaviours that have subsequently embedded themselves in a new corporate culture, post the Critical Corporate Incident, to the detriment of the long-term health and performance of each firm. Practical implications Examining CEO turnover and chronic corporate underperformance through the lens of Transgenerational Response means that business leaders can identify how a historic event has affected the performance of their firm in subsequent generations. With this knowledge in hand, they will be able to examine the inherited attitudes and behaviours, organizational policies, strategy and adaptive cultural routines that have combined to consolidate the firms chronic under performance. Originality/value This is a highly original, evidence based, idea that has the potential to reshape our current understanding of CEO turnover and underperforming firms. It will help business leaders identify how a historic event has affected the performance of a firm in subsequent generations.
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Hoffman, Richard C. "Strategies for Corporate Turnarounds: What do we Know about them?" Journal of General Management 14, no. 3 (March 1989): 46–66. http://dx.doi.org/10.1177/030630708901400304.
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Dayal, Ishwar. "Book Reviews : Pradip N. Khandwalla, Innovative Corporate Turnarounds, New Delhi: Sage Publications, pp. 279." Journal of Entrepreneurship 2, no. 1 (March 1993): 94–99. http://dx.doi.org/10.1177/097135579300200107.
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Puffer, Sheila M., and Daniel J. McCarthy. "Ethical turnarounds and transformational leadership: A global imperative for corporate social responsibility." Thunderbird International Business Review 50, no. 5 (September 2008): 303–14. http://dx.doi.org/10.1002/tie.20214.
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Bhattacharyya, Som Sekhar, and Aakash Malik. "Development of an integrated canvas on turnaround strategy." International Journal of Organizational Analysis 28, no. 2 (November 18, 2019): 523–54. http://dx.doi.org/10.1108/ijoa-02-2019-1646.
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Purpose The purpose of this study is to provide a comprehensive understanding regarding corporate turnaround. An integrated discussion regarding different corporate failure factors, conditions, symptoms followed by turnaround strategies and its results have been provided. Design/methodology/approach Authors have done a comprehensive systematic and integrated literature review study of research articles on corporate turnaround. The paper reviewed discussed different dimensions of turnaround management. The authors applied thematic reductionist categorisation with logical arguments to develop an integrated turnaround canvas (ICT). Findings An ICT has been developed. ICT is a holistic framework to comprehend turnaround strategy. Impact of precondition and turnaround levers on cash flow dynamics and the operational and strategic levers for successful turnaround performance of the firm has also been presented. Authors have also tabulated the entire spectrum of corporate turnaround. Research limitations/implications This conceptual work would help researchers interested in turnaround research to anchor their study at different points in ICT canvas. This could be at the decline precondition stage, corporate failure state, turnaround levers (strategic and operational) application phase and in terms of turnaround performance. Practical implications The ICT canvas would help managers to identify the set of corporate failure preconditions which might lead their firm to decline phase. The ICT canvas would also help managers based upon the identification of decline preconditions to select an appropriate turnaround interventions required to arrest the corporate failure. Finally, the ICT canvas would help in identifying the operational and strategic levers for successful turnaround implementation and thus achieving the desired corporate performance. Originality/value This is one of the first studies to provide an integrated perspective on corporate turnaround as the developed ICT canvas consisted of identification of decline preconditions, corporate failure, turnaround levers (strategic and operational ) and turnaround performance.
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Clapham, Stephen E., Charles R. Schwenk, and Cam Caldwell. "CEO perceptions and corporate turnaround." Journal of Change Management 5, no. 4 (December 1, 2005): 407–28. http://dx.doi.org/10.1080/14697010500359276.
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Miglani, Seema, Kamran Ahmed, and Darren Henry. "Corporate governance and turnaround: Evidence from Australia." Australian Journal of Management 45, no. 4 (February 14, 2020): 549–78. http://dx.doi.org/10.1177/0312896220902225.
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We examine the relationship between ownership and outside director attributes and corporate turnaround outcomes using matched samples of 99 turnaround and 99 non-turnaround listed Australian firms during the 2004–2015 period. Based on agency theory principles, we propose that key shareholder groups (block ownership, director ownership, institutional ownership) and outside directors are related to firm-level turnaround outcomes, and particularly changes in these attributes across decline to turnaround periods. Our results provide evidence that turnaround and non-turnaround firms differ in terms of their ownership and board composition structures, and that changes in director ownership and the degree of board independence are important in determining the likelihood of turnaround success. JEL Classification: G33, G34, M40
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Nyagiloh, Kenneth Ateng’, and James M. Kilika. "Theoretical Review of Turnaround Strategy and Its Organizational Outcomes." International Business Research 13, no. 2 (January 3, 2020): 13. http://dx.doi.org/10.5539/ibr.v13n2p13.
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Strategic management literature has recognized the role of turnaround strategy in the management process as a critical strategy at the corporate level. Researches done on turnaround strategy and corporate performance have however been biased with respect to limited scope in terms of the dimensions of performance as well as the challenges in methodology and conceptualization that affect the generalization of the study findings. This paper undertakes a review of the extant literature on the conceptual, theoretical and empirical work that brings about a number of issues for use in presenting a case for the new theoretical model that is suitable for extension of the current understanding of deployment of turnaround strategy and the ultimate results. The paper suggests an integrated theoretical framework for use in linking turnaround strategy and corporate performance while recognizing the significance of the role of organizational turnaround-based learned experiences and organizational characteristics.
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Smith, Malcolm, and Christopher Graves. "Corporate turnaround and financial distress." Managerial Auditing Journal 20, no. 3 (April 2005): 304–20. http://dx.doi.org/10.1108/02686900510585627.
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Miglani, Seema. "CEO characteristics and corporate turnaround: evidence from Australia." Corporate Ownership and Control 11, no. 2 (2014): 362–76. http://dx.doi.org/10.22495/cocv11i2c3p5.
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This study explores the role of strategic leadership in declining firms by empirically examining the association between various CEO characteristics such as duality, tenure, interlocking, founder status, functional background and the turnaround outcome for the firm. Using a match-pair sample of 94 turnaround and 94-non-turnaround Australian firms, results show that turnaround firms are more likely to have CEOs that are also board chairpersons, have more external board appointments and short tenures. In contrast, any significant association between a CEO’s functional background, founder status and likelihood of turnaround was not identified. Overall, the findings provide further empirical support for the role of CEOs strategic leadership in shaping organisational outcomes especially when companies are under performing.
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PEARCE, JOHN A., and JONATHAN P. DOH. "IMPROVING THE MANAGEMENT OF TURNAROUND WITH CORPORATE FINANCIAL MEASURES." Academy of Management Proceedings 2002, no. 1 (August 2002): B1—B6. http://dx.doi.org/10.5465/apbpp.2002.7516488.
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Winn, Joan. "Performance Measures for Corporate Decline and Turnaround." Journal of General Management 19, no. 2 (December 1993): 48–63. http://dx.doi.org/10.1177/030630709301900204.
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Mariani, Giovanna, and Delio Panaro. "Corporate governance and performance in turnaround: A synthetic index." Corporate Ownership and Control 10, no. 1 (2012): 62–74. http://dx.doi.org/10.22495/cocv10i1art6.
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In this work we carried out an empirical research on a panel of companies in turnaround SMEs, venture capital backed, with the objective of deepening the analysis: Firstly, if warning signs were submitted from firms in turnaround. Secondly, we tried to verify the role played by the Corporate Governance in restructuring, with the definition of an index of good Governance for SMEs (scG) and Performance ad hoc index (scP). Thirdly, the definition of a Synthetic Index (SI) aggregates the two kinds of information: Corporate Governance Quality and Performance. We conducted an analysis of the balance sheets of the companies in turnaround participated by a turnaround fund, in the years 2004 and 2009. In relation to the total number of firms involved in turnaround in the period in question, which were 26 in total; it was possible to reconstruct the historic trend only for 12 of them, for the others the balance sheets could not be found.In conclusion, it can be noted that the analysis of important aspects of management through the development of Z-score, and scG, scP, and SI can summarize complex concepts into a number and allows for comparisons between situations that are not readily comparable in terms of accounting. This study can suggest the definition of Corporate Governance Index for SME in critical situations. This study offers some ideas about the opportunity of stimulating the SME to introduce the Corporate Governance System spread to listed companies
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Abebe, Michael A., Arifin Angriawan, and Derek Ruth. "Founder-CEOs, External Board Appointments, and the Likelihood of Corporate Turnaround in Declining Firms." Journal of Leadership & Organizational Studies 19, no. 3 (April 25, 2012): 273–83. http://dx.doi.org/10.1177/1548051812442746.
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This study explored the role of strategic leadership in declining firms by empirically examining CEOs’ founder status and extensiveness of external board of director appointments as predictors of the likelihood of successful turnaround. The authors used the resource dependence and board interlock literatures to develop their hypotheses. Their analysis of data collected from a matched pair of 82 turnaround and bankrupt U.S. firms indicate that the extensiveness of CEOs’ external board appointments significantly increase the likelihood of turnaround. Contrary to the authors’ prediction, there was no significant relationship between founder status and likelihood of turnaround. Implications for research and practice are discussed.
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Oliver, John J. "Corporate turnaround failure: is the proper diagnosis transgenerational response?" Strategy & Leadership 48, no. 4 (April 20, 2020): 37–43. http://dx.doi.org/10.1108/sl-12-2019-0187.
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Tangpong, Chanchai, Derek G. Lehmberg, and Zonghui Li. "Turmoil in the C-Suite: Top Management Change and Corporate Turnaround." Academy of Management Proceedings 2016, no. 1 (January 2016): 17334. http://dx.doi.org/10.5465/ambpp.2016.17334abstract.
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Furrer, Olivier, J. Rajendran Pandian, and Howard Thomas. "Corporate strategy and shareholder value during decline and turnaround." Management Decision 45, no. 3 (April 10, 2007): 372–92. http://dx.doi.org/10.1108/00251740710745025.
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Abebe, Michael A. "Executive attention patterns, environmental dynamism and corporate turnaround performance." Leadership & Organization Development Journal 33, no. 7 (September 21, 2012): 684–701. http://dx.doi.org/10.1108/01437731211265250.
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Varma, Dr Shilpa. "Turnaround Management through Internal Corporate Venturing: A Case Study of a Seafood Company." IOSR Journal of Business and Management 3, no. 4 (2012): 27–33. http://dx.doi.org/10.9790/487x-0342733.
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Gowen, Charles R., and Joseph O. Pecenka. "Impact of technological leadership on American and Japanese corporate turnaround strategies." Journal of High Technology Management Research 3, no. 2 (September 1992): 263–87. http://dx.doi.org/10.1016/1047-8310(92)90015-t.
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Mihail, Dimitrios M., Myra Mac Links, and Sofoklis Sarvanidis. "High performance work systems in corporate turnaround: a German case study." Journal of Organizational Change Management 26, no. 1 (February 8, 2013): 190–216. http://dx.doi.org/10.1108/09534811311307978.
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Abebe, Michael A. "Top team composition and corporate turnaround under environmental stability and turbulence." Leadership & Organization Development Journal 31, no. 3 (May 11, 2010): 196–212. http://dx.doi.org/10.1108/01437731011039325.
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Danovi, Alessandro, Francesca Magno, and Giovanna Dossena. "Pursuing Firm Economic Sustainability through Debt Restructuring Agreements in Italy: An Empirical Analysis." Sustainability 10, no. 12 (December 18, 2018): 4830. http://dx.doi.org/10.3390/su10124830.
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Corporate restructuring has become a central topic for both academics and practitioners, particularly following the global financial crisis. In particular, there is increasing interest in understanding the effectiveness of turnaround strategies, which are defined as attempts to restore the performance of firms after periods of downfall. However, despite the relevance of this issue, there is a shortage of empirical evidence regarding the effectiveness of turnaround strategies related specifically to financial interventions. Through the support of an empirical analysis among Italian firms, this paper seeks to fill this significant gap in the available literature. In particular, we conducted an in-depth analysis of 262 debt restructuring agreement (DRA) plans that occurred between 2005 and 2013 in 16 bankruptcy courts. Our study confirms the positive effect of changes in the top management team. This measure can be both a symbolic signal of genuine willingness to modify the strategy of the firm, and a real manifestation of the necessity to have new skills to complete the turnaround. In addition, the adoption of operational and strategic/asset measures increase the likelihood of turnaround success.
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Gotteiner, Sharon, Marta Mas-Machuca, and Frederic Marimon. "Fighting organizational decline: a risk-based approach to organizational anti-aging." Management Research Review 42, no. 11 (November 18, 2019): 1259–77. http://dx.doi.org/10.1108/mrr-09-2018-0367.
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Purpose Most mature organizations face a major decline in performance at some time during their existence. For more than three decades, it has been suggested that the management practices that could cure a troubled company could have also kept it well. Inspired by this concept, this paper is proposing a preventive approach to early implementation of turnaround strategies as an alternative for otherwise traumatic rescue efforts, further along the downward spiral. Design/methodology/approach Corporate turnaround strategies and associated risks are integrated with a risk-based approach, along with a proactive decision-making process. The link between turnaround research, resource-based view, the sources of organizational decline, and the governance of organizational-decline-related risks – is explained. Findings The integrated model streamlines a preventive organizational process for considering the suitability of commonly used turnaround practices – for the non-crisis business routine of a mature company. By considering and adjusting the risks associated with such practices, it addresses risk aversion at the early stages of decline and determines the optimal sequence and timing of retrenchment and recovery activities. As such, it encourages mature companies to take actions for reducing their exposure to organizational decline. Accordingly, the model is named the “Anti-Aging” framework. Research limitations/implications Empirical testing of the suitability of turnaround strategies for non-crisis situations is proposed as a direction for future research. Practical implications The Anti-Aging framework opens an opportunity for the senior management of a mature organization to respond earlier to organizational decline and avoid the trauma associated with otherwise more challenging conditions, for the benefit of all stakeholders. Originality/value The Anti-Aging framework proposes an innovative way of bridging the gap between the benefits of early implementation of turnaround strategies, and major obstacles faced by willing, traditional management teams of mature organizations.
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Pandey, Satish C., and Pramod Verma. "Organizational Decline and Turnaround: Insights from the Worldcom Case." Vision: The Journal of Business Perspective 9, no. 2 (April 2005): 51–65. http://dx.doi.org/10.1177/097226290500900207.
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In 2002, the entire globe was rocked by the WorldCom accounting scandal that led to the bankruptcy of the fourth-ranked Fortune 500 telecom company, and raised several questions in relation to corporate governance, ethical leadership and corrupt practices in American companies. The consequences of this famous scandal led to unrest within the ranks of investors, pension funds, banks and the public at large. Later, the company appealed to the US court for reorganization under chapter 11 of US bankruptcy code and under the leadership of the new CEO, Michael Capellas, the new company (MCI) not only reconsolidated its financial position but also overhauled all its internal systems and transformed itself from a corrupt company to an ethical one. This article presents insights learnt from this case study in the context of managing organizational turnaround. It also focuses on the role that the new chief executive played in installing an ethical work culture in the organization. The authors have used Chowdhury's four stage theory to analyze the case. They have further tried to integrate insights from other theoretical models to focus on both the process of turnaround and the role of ethical leadership in bringing about the turnaround.
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Bachmann, Christian. "Sustainable performance increase and strategic turnaround management: current corporate restructuring experiences in the Romanian market." Business Strategy Series 10, no. 6 (November 6, 2009): 331–38. http://dx.doi.org/10.1108/17515630911005600.
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Grimaldi, Francesco. "Ownership structure and turnaround processes: Evidences from Italian listed companies." Corporate Ownership and Control 14, no. 1 (2016): 117–27. http://dx.doi.org/10.22495/cocv14i1p11.
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The aim of this research is to investigate the relationship between ownership structures and turnaround processes in the Italian context. In fact, with the exception of the analysis of individual business cases - relating to incidents of fraud, bankruptcy and failure to rehabilitate the business, it does not seem to have been made, at the time, specific theoretical and empirical studies on the relationship between ownership structure and processes turnaround / crisis in Italian listed companies, in which the reference model is the family business, even in large companies. This research does not extend the results obtained from studies conducted in different contexts outright to Italian companies, but considers the peculiarities of the Italian model of corporate governance, characterized by concentrated ownership structure, by the low proportion of banks and institutional investors and the conflict of interests between shareholders control and minority shareholders
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La Rocca, Maurizio, Francesco Fasano, and Gian Marco Napoli. "Alitalia airline: A business case of bad corporate governance." Corporate Ownership and Control 17, no. 1 (2019): 264–77. http://dx.doi.org/10.22495/cocv17i1siart9.
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Corporate governance, allocating rights and responsibilities inside the firm, provides worthwhile guidelines that lead management to valuable processes and activities, which are the core of business success for the interests of all stakeholders. This paper provides evidence of an interesting business case in which many corporate governance rules were disregarded. In Alitalia airline company, the management, ignoring corporate governance aspects, strongly disrupted economic value. The study is based on the analysis of managerial profiles of Presidents and CEOs of Alitalia, evidencing their relationship with corporate governance issues. Moreover, we deeply investigated the story of Alitalia and the governments’ political influence on the airline company. We found the absence of a proper mix of authority and responsibility, conflicts of interests and agency costs, poor monitoring activities, lack of managerial skills and scarce managerial effort, jointly with ineffective incentive mechanisms. The consequence was that past bad governance has compromised the ability of the company to create new value. We conclude that when governance principles are disregarded for a long time, even a high performing and cash-rich company can lose its competitive advantage, damaging its chances of a turnaround.
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Winnen, Lothar, Lars Leeuw-Holtvoeth, Andreas Lax, Kurt Morzfeld, and Henning Tirrel. "THE ROLE OF HUMAN RESOURCE MANAGEMENT IN CORPORATE CRISES: HOW HR CAN SUCCESSFULLY MAKE A CONTRIBUTION TO TURNAROUND MANAGEMENT." International Journal of Strategic Management 18, no. 2 (December 1, 2018): 13–40. http://dx.doi.org/10.18374/ijsm-18-2.2.
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Kannabiran, Ganesan, and Saumen Bhaumik. "Corporate turnaround through effective supply chain management: the case of a leading jewellery manufacturer in India." Supply Chain Management: An International Journal 10, no. 5 (December 2005): 340–48. http://dx.doi.org/10.1108/13598540510624160.
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Welch, James. "What’s in a name? Complications in overcoming reputational damage during the corporate recovery process." Strategic Direction 36, no. 3 (February 14, 2020): 1–3. http://dx.doi.org/10.1108/sd-09-2019-0167.
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Purpose It is an unfortunate and sometimes entirely avoidable prospect that very successful companies can suffer self-inflicted reputational harm due to poor corporate executive decision making. One contemporary example is seen with the once popular and rapidly growing pizza chain, Papa John’s as the company has been facing an uphill battle to recover its reputational standing following recent scandal. This article examines the recovery process and the very specific complications with the company itself. Design/methodology/approach This is a case study approach examining corporate reputational recovery using a four-pronged turnaround model of replacing the leadership, restructuring the organization, redeveloping the strategy, and re-branding the product. Findings While the four pronged approach of replace, restructure, redevelop, and re-brand, appears to be a model that can work across industries, there are some challenges depending on corporate specifics. The major challenge with Papa John’s seems to be in the ongoing connection to the founder with related problems dealing with the legacy of the corporate culture. After all, it is very difficult to move beyond reputational damage for a company still bearing the name of the corporate executive who had been the source of the scandal as well as a company that is largely intact structurally. Originality/value This article examines the corporate recovery process for Papa Johns Pizza using a four step model for corporate recovery. The new four pronged approach centers on replacement of the corporate leadership, restructure of the organization, redevelopment of strategy and the re-branding of the product. Papa Johns continues to struggle to regain traction following public relations stumbles in 2017 and 2018 and the four pronged corporate recovery model serves as a valuable analytical tool to examine the impact and effectiveness of their efforts thus far as well as their future prospects.
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Kaul, Asha. "“Doing” the act: Lenovo and corporate reputation." Emerald Emerging Markets Case Studies 2, no. 8 (October 17, 2012): 1–16. http://dx.doi.org/10.1108/20450621211299547.
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Subject area The case is positioned in the domain of building, managing and communicating corporate reputation. It discusses the entry of Lenovo in the Indian market where the company faced reputational challenges. Definition of a corporate reputation strategy which was aligned to the overall strategy of the company, helped Lenovo traverse difficult terrains. The case would be relevant for courses on corporate reputation, communication and strategy. Study level/applicability The case is targeted at MBA students, corporate and PR professionals. The case can be used for MBA courses or management development programmes on corporate reputation, communication, and strategy. Case overview The case brings out key elements of entry into an emerging market flooded with international, well-positioned players and discusses the entry of Lenovo in the Indian market where the problem was compounded by perceptions of Chinese origin. How does Lenovo bring about a turnaround in positioning, building, communicating and managing reputation, how does it steer stakeholder opinion in its favour? Will Lenovo India be able to replicate the success model in China? The case presents the challenges and discusses the strategies adopted by Amar Babu, MD Lenovo to bring about a change in the existing perceptions of stakeholders. Expected learning outcomes To discuss strategies for building corporate reputation. To critically examine and analyze the strategies adopted by Lenovo India to build reputation and gain market share. To analyse links between strategy generation and reputation management. Supplementary materials Teaching notes are available, please consult your librarian to access these.
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Singh, Ritika, and Chandan Bhar. "System dynamics to turnaround an Indian microfinance institution." Kybernetes 45, no. 3 (March 7, 2016): 411–33. http://dx.doi.org/10.1108/k-05-2014-0111.
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Purpose – The purpose of this paper is to present a policy comparison tool for Indian Microfinance Institutions (MFIs) so that they can choose the best policy for implementation. It provides for turnaround of a troubled MFI by analyzing the performance of different policies. Design/methodology/approach – The paper has done a web survey to identify the need of a strategic tool for MFI. It has built a Decision Support System (DSS) using system dynamics. A corporate model of MFI has been constructed using iThink 10.0.2 software. A quantitative validity test has been done to find the robustness of the model. Finally four policies are tested and the performance indicators have been used to suggest the best policy. Apart from this DSS is used to test the implementation range of a policy. Findings – “Integration of Microfinance with country’s mainstream financial system along with provisioning 1 percent of outstanding loans” is recommended for the MFI as this will increase the financial performance. Research limitations/implications – In its present form the corporate model developed for MFI is not applicable for judging social performance. Therefore MFIs might be sceptic toward it. However, incorporation of certain performance indicators such as financial-self-sufficiency ratio might help in overcoming this reluctance. Practical implications – “Integration of Microfinance with country’s mainstream financial system along with restricting provision” will generate better performance for the MFI. Therefore this policy should be implemented by the MFI. There are other considerations which need to be taken into account while implementing this policy. The integration may require outsourcing of certain operations to banks, utilization of bank branches to disseminate knowledge related to the conduct of transactions, usage of customized bank software to handle the day-to-day business, development of new softwares for mobile messaging to help poor customers avail of schemes run by the banks, fill loan application forms online, send reminders for loan recovery; provide incentives such as upgradation of poor customers to become regular customers of banks. Social implications – By improving the health of the MFI a bigger goal to reach the poor will be achieved in the long run. The MFI has around five million clients at present and if the company becomes insolvent then the future of these clients is going to be impacted. The organization has interacted closely with these clients and therefore knows how to upgrade their financial state. Originality/value – The tool is first of its kind in the microfinance industry. So far the microfinance technology providers have dealt with Management Information System and Information and Communication Technology. The tool has been built to present a quantitative model for overall operations of the MFI. The simulation of this model helps in predicting future scenarios.
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Gupta, Vipin, and Jifu Wang. "From Corporate Crisis to Turnaround in East Asia: A Study of China Huajing Electronics Group Corporation." Asia Pacific Journal of Management 21, no. 1/2 (March 2004): 213–33. http://dx.doi.org/10.1023/b:apjm.0000024084.81133.22.
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Johnson, Gerry. "Corporate recovery: Successful turnaround strategies and their implementation, Stuart Slatter, Penguin, London, 1984. No. of pages: 429. Price £6.95." Strategic Management Journal 7, no. 1 (January 1986): 99–100. http://dx.doi.org/10.1002/smj.4250070111.
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Abatecola, Gianpaolo, Vincenzo Farina, and Niccolò Gordini. "Board effectiveness in corporate crises: lessons from the evolving empirical research." Corporate Governance 14, no. 4 (July 29, 2014): 531–42. http://dx.doi.org/10.1108/cg-03-2013-0030.
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Purpose – This article aims to comment on how the empirical research on board effectiveness in crisis contexts has been evolving over time. Over the years, the empirical evidences have demonstrated that particular board features can improve the survival chances of firms suffering a crisis and, to date, experts agree that discussing these evidences is necessary for the further improvement of knowledge in this field. Design/methodology/approach – This is a critical review article. Findings – Valuable evidences emerge from the review. For example, it seems that board independence has a key role in enhancing the performance of firms suffering a crisis. At the same time, the review suggests that further refinement is needed for supporting (or eventually refuting) the idea that boards and/or Chief Executive Officers (1) must be replaced to achieve successful turnaround strategies. Originality/value – On the basis of its findings, the review also prospects a number of conceptual and methodological implications for the future research and practice about board effectiveness in corporate crises. For example, these implications are associated with future investigations about the executives’ sociodemographic features and personality traits as well. More international comparisons seem also needed to improve the reliability of the extant knowledge.
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Finkelstein, Sydney, Charles Harvey, and Thomas Lawton. "Vision by design: a reflexive approach to enterprise regeneration." Journal of Business Strategy 29, no. 2 (February 29, 2008): 4–13. http://dx.doi.org/10.1108/02756660810858107.
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PurposeThis paper aims to introduce a strategic visioning method called vision by design and to use the example of Harley‐Davidson's corporate regeneration to illustrate how the method works in practice. This approach conceives visioning as a practical tool of management whose power stems from the facilitation of strategic conversations among stakeholders and the reflexive engagement of business leaders in past‐present‐future thinking.Design/methodology/approachThe paper presents a four‐dimensional visioning model that facilitates exploration of both the internal and external contexts of the business. The advantage of the approach lies in breaking down vision into its component parts, lending simplicity and structure to the visioning process. The study employs a case study of the turnaround of Harley‐Davidson to illustrate this method.FindingsThe paper finds that, in undertaking corporate regeneration, Harley‐Davidson's senior management recognized the need for a vision that was comprehensive, inclusive and dynamic, but also realistic and grounded in the history and present circumstances of the business. The visioning process at the company was transformational because it ignited a strategic conversation that went beyond the boardroom to include employees, customers, partners and financiers.Originality/valueThe vision by design method adds value by simplifying the visioning process and focusing on a series of transitions, whereby the emerging vision is rooted squarely in business realities. As the picture of a regenerated enterprise is built up, both internal and external contexts are scrutinized, ensuring that the future vision is consistent and complete, attractive externally and deliverable internally.
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Kailasam, Murali, and Winai Wongsurawat. "How audacious strategies pay off during hard times." Management Research Review 39, no. 4 (April 18, 2016): 468–96. http://dx.doi.org/10.1108/mrr-05-2014-0118.
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Purpose This paper aims to identify strategies used by companies during the recent global recession and to investigate the effectiveness of offensive and defensive strategies. It also investigates how these different types of strategies are sequenced. Design/methodology/approach The paper draws on cases from seven publicly listed Indian information technology (IT) and information technology-enabled services (ITESs) companies. This longitudinal study draws on 32 semi-structured interviews with top management. The data were triangulated using annual and quarterly reports, emails, organization profiles and customer satisfaction reports. Findings Offensive and defensive strategic responses were deployed concurrently, not sequentially. Offensive responses were crucial in turning around a firm. Identical strategies can yield different results in product and service companies. Research limitations/implications The findings of this paper should be generalized with care because of the sampling scope. Future studies should include quantitative research over different recession periods. Practical implications The paper provides insights for practitioners on how to respond to economic recession and prepare for recovery. Originality/value The paper enriches the corporate turnaround and business cycle management literature by analyzing the behavior of firms from India and from the high-tech industry.
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Akbar, Minhas, Ahsan Akbar, Petra Maresova, Minghui Yang, and Hafiz Muhammad Arshad. "Unraveling the Bankruptcy Risk‒Return Paradox across the Corporate Life Cycle." Sustainability 12, no. 9 (April 27, 2020): 3547. http://dx.doi.org/10.3390/su12093547.
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Bankruptcy risk is a fundamental factor affecting the financial sustainability and smooth functioning of an enterprise. The corporate bankruptcy risk‒return association is well founded in the literature. However, there is a dearth of empirical research on how this association prevails at different stages of the corporate life cycle. The present study aims to investigate the bankruptcy‒risk relationship at different stages of corporate life cycle by employing Hierarchical Linear Mixed Model (HLMM) regression estimation on the data of listed non-financial Pakistani firms from 12 diverse industrial segments. We grouped the firms into introduction, growth, mature, shake-out, and decline stages of the life cycle using Dickinson’s model. Empirical results assert that corporate risk-taking at the introduction stage yields superior financial performance in the future, while risk at the growth stage positively contributes to a firm’s current performance. Moreover, because of risk-averse and non-diversified managerial behavior, bankruptcy risk at the mature stage is negatively associated with both current and future performance. Likewise, risk-taking at the decline stage has significant negative implications for firm performance as the managers of such firms undertake heavy investments in a turnaround attempt; however, owing to the risk-averse behavior, they may indulge in negative net present value (NPV) projects. The study findings imply that managers synchronize a firm’s risk exposure with the corresponding life cycle stage to avoid going bankrupt. Moreover, excessive risk-taking during the mature and decline stages can considerably harm the financial sustainability of an enterprise. Hence, investors should exercise a degree of caution when investing in highly indebted later-stage (mature and decline) firms. Overall, bankruptcy risk‒return resembles an inverted U-shaped relationship. Our results are robust and can apply to various econometric specifications.
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Gilinsky Jr, Armand, Julia Mallon, and Adele Santana. "Pacific Market: invest, sell, or stay the same?" CASE Journal 15, no. 6 (March 30, 2019): 607–47. http://dx.doi.org/10.1108/tcj-03-2019-0021.
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Theoretical basis This case should be paired with textbook chapters that cover the important roles of leadership, staffing and corporate culture in the strategy implementation effort. The case can also be used to review textbook chapters covering competitive and industry analysis, differentiation strategies, goal setting and financial analysis. In advanced courses, readings on leadership and corporate social responsibility should be assigned to inform debates regarding Vasu’s style and his commitment to creating shared value. Alternatively, instructors in retail management courses could assign readings that investigate the linkages of human resource management, service quality and other behaviors to optimal supermarket performance. Research methodology The authors revised this case and Teaching Noes from an MBA student case writing project in Fall 2017. The student conducted focus groups with Pacific Market’s consumers, worked with Vasu and his consultant, Tom Scott, a former CEO of a local grocery chain, supplemented with secondary industry research and demographic information about the cities of Sebastopol and Santa Rosa. Meetings to develop the company mission statement and long-term goals took place over Fall 2017. Tom provided the operating information and trade area analysis used in the case, and Vasu provided financial statements and background information. Case overview/synopsis After a career as a turnaround specialist for Silicon Valley high-tech startups, Vasudev Narayanan (Vasu) acquired Pacific Market, a two-store chain in Sonoma County, California, in 2013. By Fall 2017, rival local chains had expanded, online vendors threatened in-store shopping, the Amazon-Whole Foods combination threatened disruption, and consumers increasingly insisted on “buying local.” Vasu aimed to grow revenues 50 percent by 2020, and fund Good Karma Foundation, a charity in his native India. Strategies to achieve these objectives included infrastructure investments, employee profit sharing, changing the mix of products and amenities or finding a buyer for the operation. Complexity academic level The Pacific Market case is intended for undergraduate or MBA-level strategic management courses. The case pairs well with coverage of how leaders approach the strategy implementation effort, a topic typically introduced toward the end of the course. The case gives students practice in applying strategy formulation concepts and frameworks, e.g. PESTEL analysis, Porter’s industry forces, key industry drivers, strategic group mapping, SWOT analysis, corporate social responsibility and financial ratio analysis. Instructors might also use this case to cover similar material in retail management courses. The case is highly suitable as a written assignment for an examination and/or for team presentations.
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Narayanamurthy, Gopalakrishnan, and Vijay Pereira. "Indian Railways: rail ways for Indians." Emerald Emerging Markets Case Studies 6, no. 1 (April 29, 2016): 1–30. http://dx.doi.org/10.1108/eemcs-07-2015-0154.
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Subject area Human Resource Management and Public Sector Management. Study level/applicability The target audiences for the case study are BSc, MSc and MBA students and management trainees and executives who are interested in learning the human resource (HR) practices, policies and strategies adopted by the world’s largest commercial employer to ensure complete satisfaction and contentment of their employees and their employee’s family which, in turn, motivates them to contribute more efficiently and effectively for the organisation. Even senior management teams could be targeted in executive education programmes as this case discusses time-tested HR practices, policies and strategies which have been sparsely discussed so far and hence can be expected to provide insights to senior corporate managers. Case overview India has and is undergoing sweeping economic changes lately. There are several organisations that have supported this positive change. Of these, one such organisation, which shouldered the infrastructural burden of the transportation sector in India’s growth story, was the 160-year-old Indian Railways (IR), the world’s largest commercial employer. IR’s profit over the past few years was a far cry from its loss-making days, which tempted the government of India to consider privatisation in 2001. The transformational turnaround would not have been possible but for IR’s employees. After celebrating IR’s 160th anniversary in 2013, the case organisation wished to revisit its HR practices to understand its recent economic transformations and to strategise how they can improve and sustain maximum efficiency in future. The objective of this case study is to understand the “people side” of IR by explaining its current HR practices and to investigate and identify changes over the years so that changes then can be implemented in the context of HR practices for the future. Hence, the case attempts to explain the role of HR management in IR’s turnaround strategies. Resistance exhibited by IR staff towards its recent initiative of enterprise resource planning (ERP) implementation across India due to fear of job losses and insecurity is also discussed in the case. Teaching note for this case study explains existing people management frameworks published in the research literature to class participants by applying it to the case company. In addition, the teaching note also discusses how chief personnel officers (CPOs) of IR can pursue the change initiatives among the employees with least resistance. Changes/initiatives that can be imbibed by the CPOs in the existing HR practices to overcome the resistance exerted by the employees and to improve the existing system are also discussed. Expected learning outcomes This case study’s primary objective is to provide a comprehensive understanding of the HR practices being followed in IR, the world’s largest commercial employer. The case also attempts to assess the ERP system initiative by IR and analyse how it can be imbibed into the existing IR’s HR system. In short, the case study attempts to answer the following assignment questions which form the learning objectives of this case study: What are the HR practices that are being followed in the world’s largest commercial employer? How are the HR practices followed helpful in the retention of employees? How can IR pursue the change initiatives, especially ERP implementation, among the employees without any resistance? What are the changes/initiatives that can be imbibed in the HR practices to improve the existing system? Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 6: Human Resource Management.
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Wilson, John, Anthony Webster, and Rachael Vorberg-Rugh. "The Co-operative Movement in Britain: From Crisis to “Renaissance,” 1950–2010." Enterprise & Society 14, no. 2 (June 2013): 271–302. http://dx.doi.org/10.1093/es/khs076.
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Between 1950 and 2010, the British co-operative movement faced a series of commercial, structural, and corporate governance crises. Having pioneered many of the features of modern large-scale retailing since its origins in the mid-nineteenth century, from the 1950s the Co-operative Wholesale Society (CWS) and the retail cooperative societies it served experienced plummeting market share, continued internecine rivalries, and increasing marginalization. In the early twenty-first century, however, co-operatives improved their market share and experienced a “Renaissance” in commercial fortunes despite continued fierce competition in food retailing. As yet there has been little exploration of the nature of this turnaround and the ways in which the once-foundering co-operative business model was re-engineered.Drawing on new research into the CWS (renamed The Co-operative Group in 2001), this article provides a historical analysis of the movement’s decline and revival. As the article details, from the 1950s significant efforts were made to reform CWS and the movement as a whole. However, co-operatives were slow to adapt to the changing business environment, hampered by dysfunctional organizational dynamics that constrained structural change and limited efforts to compete with private retail multiples. Following an unsuccessful takeover bid for CWS in 1997, co-operative opinion coalesced around the need for change. In the final section, the authors analyze the factors underpinning the “Renaissance,” focusing on both organizational innovations and the reassertion of core values and principles on which co-operation had been built. This provides a fascinating illustration of how a business can respond effectively to internal and external challenges, yet retain its fundamental character.
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Rajagopal, Shambavi, and Ipshita Bansal. "Waste disposal of fresh fruits and vegetables." Management of Environmental Quality: An International Journal 26, no. 5 (August 10, 2015): 721–38. http://dx.doi.org/10.1108/meq-10-2013-0115.
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Purpose – The purpose of this paper is to evaluate consumers’ latent need to serve society by participating in “Go Green Revolution” and the contribution to proper disposal of waste and packaging of fruits and vegetables by the consumer and retailer. Design/methodology/approach – The United Arab Emirates (UAE’s) regular customers comprise an expatriate population of 200 nationalities. Primary research attempted to maintain a ratio of this diversity. Findings – There is low awareness of effects of disposal of fruits and vegetables and an urgent need for intervention by stakeholders. Research limitations/implications – This research attempts to provide avenues for further scientific and academic research. Better methods of disposing and faster turnaround from waste to compost should be pursued scientifically. Academic research venues are available for researchers to study methodologies which can be used to educate people. Corporate, institutional and government awareness campaigns specific to disposal of fruits and vegetables should be researched further. Practical implications – The paper attempts to analyse the levels of awareness of the general population with respect to disposal of fruits and vegetables. The landfills can be saved from the stench which usually encompasses the area, if fruits and vegetables can be disposed properly. The creation of compost at micro levels can help create a greener earth. Originality/value – The research paper focuses on awareness of disposal of fruits and vegetables and its packaging, which is new in the context of the UAE.
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Connell, Carol M. "Women CEOs on making strategy happen." Strategic Direction 35, no. 7 (July 11, 2019): 1–4. http://dx.doi.org/10.1108/sd-09-2018-0184.
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Purpose As a professor of strategic management and as a consultant to organizations on strategy and change, the author focused on the activities that are necessary for leaders to create effective strategy and to execute successfully. The author has also been responsible for equipping the larger teams of strategy professionals (and future strategy professionals) who support these leaders with the approaches, the methods, and the tools necessary to plan effectively, to assess effectiveness, and to correct problems in strategy and execution. Whether long-term company leaders, entrepreneurs, or turnaround companies, chief executive officers (CEOs) understand that strategy and execution are requirements for growth and, ultimately, their unique responsibility. The paper aims to offer a view of strategy and execution from women CEOs of top companies, including those who weathered the financial crisis and others changing their business model as the climate changes. The paper offers a set of questions to help company leadership execute their strategy. Design/methodology/approach The paper represents a viewpoint supported by secondary sources and financial data. Findings CEOs whose companies have prospered during the Great Recession and beyond have a lot to teach us about strategic execution in an uncertain world. There is always a crisis or a change in industry structure that threatens strategic execution. This paper focuses on women and how they face this challenge as CEOs of top companies. Research limitations/implications Strategic execution must align with strategy or growth will not happen as planned. Practical implications There are things CEOs and general managers can do to ensure their strategic execution leads to the results they plan. Those things have been identified in this paper. Social implications The most powerful asset companies have is their talent base, their employees. Originality/value The corporate examples, the understanding of industry structure change, and the importance of talent and risk are seen through the lens of women CEOs.
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A. Johnston, Kevin, and Grandon Gill. "Standard Bank: The Agile Transformation." Journal of Information Technology Education: Discussion Cases 6 (2017): 07. http://dx.doi.org/10.28945/3923.
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South Africa’s largest bank has recently completed a transformation from traditional systems development to the scaled agile framework. The individual leading the transformation is now considering how to keep the momentum going and possible new directions. Josef Langerman, Head of IT Transformation for Standard Bank, reflected on the extraordinary transformation that his organization’s IT group had recently experienced. Over the past three years, Standard Bank’s IT group had changed from the relatively well accepted systems development lifecycle/waterfall model to a revolutionary large scale agile approach. The results had been gratifying. But it left a question unanswered. Now that things were starting to stabilize, what should be the next steps? The 154-year-old Standard Bank was the largest banking group in Africa, and the 5th largest company headquartered in South Africa. The bank offered a range of corporate, business and personal banking as well as financial services. Its 49,000 employees served over 15 million customers, in 20 countries across the continent of Africa, as well as other countries scattered around the globe. Standard Bank’s IT group, located within the company’s Johannesburg headquarters, had over 6000 employees. The group managed the bank’s technology infrastructure–including a network of nearly 10,000 ATMs, its applications development, testing, deployment, maintenance and operations. By 2014, the bank recognized that its IT performance was lagging industry benchmarks in productivity, turnaround time and employee satisfaction. Employing a “do it in-house” philosophy, it embarked on a major transformation. Abandoning traditional highly structured approaches to project management and development, it had adopted an agile philosophy that was most commonly seen in much smaller organizations and technology startups. The results had been impressive–productivity, cycle time and organizational health indicators had all risen dramatically. The group had also achieved substantial reductions in its budget. Even skeptics within the organization could not fail to be impressed. Now, however, Langerman wondered about the future. He had been cautioned by his group’s HR Culture Transformation Guide that rapid improvement could easily be followed by disillusionment. What could be done to keep the momentum going forward? Should the bank double down on the types of changes to culture, practice and training that had led to its success, or was it time to let things settle? And who should be guiding the change? Should the implementation continue entirely in-house, or should outside consultants–that were working in other areas of the bank–play a significant role? In the near future, he would need to present his recommendations to the group’s CIO.
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McKenzie, Brent, and Emily Hunter. "A case study of a non-profit organization in an emerging economy: O fonds in Latvia." Baltic Journal of Management 16, no. 1 (November 3, 2020): 155–72. http://dx.doi.org/10.1108/bjm-02-2020-0039.
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PurposeThe focus of this research is to present a case study of a small Latvian-based non-profit organization (NPO), O fonds (Oncology Foundation), and how they are an exemplar of the challenges facing NPOs in countries that do not have a strong history of NPO success. The research is supported through primary data collection of multiple interviews and correspondence with the key informant of O fonds, the CEO. These insights were supported with secondary data analysis of the history of NPOs in emerging markets, as well as the history of cancer screening in Latvia.Design/methodology/approachIn order to address the gap in the existing research literature, a single firm case analysis was selected to provide the context of the study. A series of semi-structured questions focused on O fonds branding and rebranding activities were posed to the CEO of the firm. Subsequent personal interviews were conducted to analyze and interpret the original results. This primary data were linked to secondary data about the practices of O fonds, NPOs in Latvia and the roles and challenges of NPOs in emerging markets.FindingsThe analysis of the findings from the primary data collection found that O fonds' rebranding effort helped to achieve a more stable and significant place for NPOs in the healthcare sector in Latvia and of equal importance with the Latvian general public. Tangible results included more financial support from donors, with an added benefit of increased joint marketing activities with corporate donors. Furthermore, active involvement with O fonds and medical professionals resulted from the rebrand. Also, there was an increase in referral patients to O fonds so they could attempt to get these people support for cancer screening.Research limitations/implicationsQuestions as to issues of validity from the use of a single case study, and greater issues with a single case, single interview method are acknowledged. This potential limitation, with respect to this study, was deemed to be lessened based on the use of multiple interviews and sourcing of secondary company material with the CEO of O fonds. Further support by way of sharing of a secondary data, and organizational insights helped to address any major limitations in the research methodology, as helpful information and materials that might not have been readily available, or unavailable without this level of trust, could be obtained.Practical implicationsExploring how NPOs can rebrand their firm to better meet the needs of society and be most impactful will contribute to both managerial practice and academic literature. By examining how a non-profit rebranding process occurs, in an emerging economy, and determining how effective rebranding can be utilized as a turnaround strategy, is a contribution of this research. Given the limited non-profit rebranding literature, particularly in emerging markets, this study provides exploratory insights within a new context to help propel the field of knowledge.Social implicationsNPOs have been shown to play a valuable role in communities across many regions of the world as NPOs enable citizens to come together to collectively work toward a common goal with the purpose of bettering society. With respect to the focus on O fonds their aim of increasing early detection of cancer continues to rise, but more positively, the incidents of treatable cancer are also rising as the result of the former. Regrettably, this positive trend in increased cancer screening does not equate to lower mortality rates across all countries, particularly countries in emerging markets such as Latvia.Originality/valueThis is one of the first known studies of an NPO in the emerging market of Latvia, in general, and in the Latvian healthcare sector specifically. As there is a dearth of research in this field of study, and the fact that NPO growth is a critical component of society growth in emerging markets, there is an important contribution to be made to both practice, and society, from the findings from this research.