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.

Company Voluntary Arrangements (CVAs) were introduced to be a flexible business rescue procedure. They are meant to provide a flexible way of restructuring a troubled business which will lead to a better outcome for creditors than liquidation and allow the existing shareholders to retain ownership and control of the business during the process. This article [...]

A new SAP system can make a start-up plant a disaster or victory—all depending on the preparation for its implementation. The SAP is the information backbone of new plant business and project manager should approach it with a well structured project team. If implementation scope includes Financials, Sales, Distribution logistics, Manufacturing, Supply Chain Management and [...]

Change management can be a very effective tool for any business when used effectively. It can seem like a daunting prospect at first but once you know all about it and get the hang of it you will see that it’s an easy way of achieving great results. It is important that anyone who is involved [...]

Introduction The most common reason cited for the failure of a change management effort is resistance.  That’s a cop out.  There is always going to be resistance, and it’s a natural part of every change management program, successful or not.  The degree to which resistance wins out is determined by other factors. Five Factors I believe [...]

It may sound clique, but the age old saying of, “if you keep doing what you have been doing, you’ll keep getting what you have been getting” rings true in the middle of the current business economic downturn. If you are looking to grow your business in times of uncertainty, then turnaround and management change [...]

When you think about the millions of dollars organizations spend each year on IT programs of work, wouldn’t it be prudent knowing that employees actually understand and most importantly embrace the reason behind the changes? There is one way of ensuring that employees and their managers have got the message and truly understand the reasons [...]

What guides the decision of choosing a leader at this juncture? Different companies have different needs. The CEO that managed the company into trouble clearly is lacking the skills to doctor it back to health. Why risk allowing the same person to try again? Conversely, the CEO that can bring a troubled company from the brink of failure may not have the skills to become the “Marquis” to manage long-term, day-to-day operations.
This suggests a two-part strategy, an interim executive to manage the transition period, followed by a well-qualified permanent leader to step in when the time comes.
A troubled company is like a patient in critical condition, decisive steps must be taken…

The people aspects of change is the overwhelming issue Change management models have clearly evolved from the days of Kurt Lewin’s freeze phases model which was very much a product and reflection of the industrial age – with the emphasis on command control imposed from the top down. Similarly, even Michael Hammer ["Re-engineering the Corporation"] [...]

To fully understand merger failures we need to understand the motivation behind M&A activity – which is primarily about the creation of value by exploiting [what is euphemistically referred to as] synergies. Technically speaking, “synergy” is defined as the increase in the merging firms’ competitive strengths and resulting cash flows beyond which the two companies [...]