Abstract
This chapter provides a background to all subsequent chapters. It includes a discussion of the different elements and the chronological steps of a turnaround. When needed, concrete examples are provided. These often consist of snippets taken from the ensuing chapters. The typical length of different kinds of turnarounds is also discussed.
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Notes
The handling of the relationships to different stakeholder groups, particularly during the downsizing phase, is discussed by Cynthia Hardy in Strategies for Retrenchment and Turnaround: The Politics of Survival, de Gruyter, 1989.
Lee lacocca with William Novak, lacocca — An Autobiography, Bantam Books, 1984. Lee lacocca, who ran the company from 1978 to 1992, saved it once, and then drove it right back into disaster 1988–92. The company therefore had to be saved a second time, this lime by the two co-pilots, Robert Eaton and Robert Lutz. Thus, lacocca’s celebrated ‘success’ was substantial, but time-limited.
Although Lee lacocca’s own book is still selling in paperback, perhaps ils readers should also study Robert A. Lutz, Guts — The 7 Laws of Business That Made Chrysler the World’s Hottest Car Company, John Wiley & Sons, 1998.
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© 1999 Arpi International SA, Rhode-St-Genèse/Belgium
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Arpi, B., Wejke, P. (1999). Overview of the different steps involved in most turnarounds. In: International Turnaround Management. Palgrave Macmillan, London. https://doi.org/10.1057/9780230288850_3
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DOI: https://doi.org/10.1057/9780230288850_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-42016-2
Online ISBN: 978-0-230-28885-0
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