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 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.
Humpty Dumpty sat on a wall Humpty Dumpty had a great fall All the king’s horses and All the king’s men Couldn’t put Humpty Dumpty together again This past week I attended a conference of business leaders desiring to take their business to the next level. On the second day, I met a leader who [...]
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 [...]
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 [...]
All business turnaround situations are different, however, there are one element that always have to be on top of the agenda: Employee buy-in. Any manager who has struggled through a turnaround knows how crucial employee buy-in is; they also know how time-consuming and difficult it can be to secure. Here are three ways to gain [...]
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 [...]
In this current economic climate, smart companies are focusing more on performance management of their staff rather than finding new ones. Employee performance is vital if a company is going to stay afloat. A lot of recruitment agencies have gone by the way of the dodo recently. A friend of mine started one about 4 [...]
Introduction No one will ever be able to convince me that the most challenging component of Project Management is the science behind it. The way in which we need to pull people together to be a high performance team over a relatively short period of time is the most challenging part of Project Management. This [...]