- An appeal to learn from past crisis, competitors and the best After the attacks of September 11, 2001, airlines got into serious trouble and were forced to cut costs and routes all over the world quickly. Some airlines in the US that did not have enough financial resources went into Chapter 11 protection in [...]
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This is the story of the fall of Anton Schlecker’s empire of seven thousand shops with thirty thousand employees, but I would not write this article if I did not believe that Schlecker’s empire could be rescued. There is no question about the urgency of a rescue plan: currently, Schlecker loses about €20 million every month, so deep cuts will have to be made, as it is too late to adopt a strategy that simply avoids further declines in profits or market share. It is also too late for heavy investments and higher credit lines. It is time to determine what went wrong, what can be rescued, and what makes economic sense.
1. How long, on the average, does a turnaround take (possibly broken down into decline stemming and recovery)? That can vary a lot. At Detecon, they schedule 4 to 10 months for a restructuring project. However, careful consideration must be given to the exact situation of the specific company. It is very rarely possible for [...]
The Turnaround Management Society has been asked by many firms to create a database of consulting firms that are active in the restructuring/turnaround business. For that reason we ask our members and companies that are not members to fill out the following form: TMS Consultants Database Form (Docx) When you are done filling out the [...]
The Turnaround Management Journal is available for print and download. If you want to order printed copies please visit Amazon.com Turnaround Management Journal 02/2011 Download link: Turnaround Managment Journal 02/2011 small size In this issue: Introducing the International Turnaround Management Standard by Dr. Christoph Lymbersky The Importance [...]
Experienced management is one of the most important factors behind the success of any business. Many managers have ample enthusiasm and energy, but often lack the knowledge and experience needed to sidestep easily avoided mistakes. As a result, far too many companies get into trouble and can die before ever reaching their potential market value. [...]
The Turnaround Management Society (TMS) has finished it’s most ambitious project to develop a standard for turnaround management practitioners. The project was set for three years and lead by Christoph Lymbersky director and lead project manager of the Turnaround Management Society.
Turnarounds are a very common situation that statically 30% of the listed companies on the NYSE run into within ten years. The research led by Christoph Lymbersky of turnaround cases suggests that a lot turnarounds are done in house by the companies themselves, few have professional turnaround help.
Turnaround Management Society Awards Certified International Turnaround Manager Honor to John M. Collard, Chairman of Strategic Management Partners, Inc.Feb 2nd, 2011 | By admin | Category: Introduction of Members, New Publications
The Turnaround Management Society (TMS) awarded John M. Collard, Chairman of Strategic Management Partners, Inc. its coveted Certified International Turnaround Manager (CITM) – “Level D” qualification at its highest level. “Mr. Collard and his company have done an enormous contribution to the field of turnaround management, achieved numerous successful and sustainable turnarounds for their clients [...]
The “Turnaround Management Journal” is the first and so far only regular publication in Turnaround / Crisis Management that contains articles from academics and practitioners alike. The journal contains eleven quality articles from authors around the world. Unlike other publications in this area the TM Journal focuses on articles and not on advertisements. In each journal there will be interviews with turnaround professionals as well as a focus on different aspects of the turnaround process. The current edition is available over amazon.com and soon other distribution channels as well.
This app provides you with up to date articles about turnaround management, crisis management, leadership and change mangement and project management. The articles are selected articles from the Turnaround Management Journal and others by international turnaround management professionals and academics. Futhermore the app provides you with case studies that you can read on the way and you can share your thoughts with other readers. The app keeps you up to date with what is going on in the industry nd provides you with a short profile of members of the Turnaround Management Society their accomplishments, history and recent cases that they worked on.