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Rise Like a Phoenix
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Rise Like a Phoenix
Scripting Corporate Turnarounds

First Edition

February 2017 | 200 pages | SAGE Publications Pvt. Ltd
When ailing companies are on the brink of collapse, the biggest question that owners have is whether a turnaround effort is worth shedding blood, sweat or tears over. Employees and the labour union believe that a turnaround is always possible; all that is required is a change in management. Shareholders will be sceptical and wonder whether further resources should be showered on an under-performing company, preferring to liquidate saleable assets.

This book explains how smart managers unlock the value of hidden or neglected assets to successfully turn such cases around. In proposing a ‘frugal turnaround’ approach, the book advocates tapping the existing resources rather than just pumping money or changing top leadership.

 
Preface
 
Acknowledgements
 
The Challenge of Turnarounds: A Day in the Life of a Turnaround CEO
 
Down Memory Lane: The HMV Story
 
A Tale of Passion: The Bharat Tiles Story
 
Early Distress Signals: Consequences of Turning a Blind Eye
 
The Perennial Dilemma: Turnaround or Exit
 
The Journey Begins: What Business Are We in?
 
The Building Blocks: Unlocking the Value of Under-utilized Assets
 
Opportunity Knocks Only Once: Sub-optimal Utilization of Assets
 
Who Leads the Way?: The Profile of a Turnaround CEO
 
People Matter: The Turnaround Organization
 
Core Values of a Company: Winning with Grace
 
Getting Ready for the Future: Sustainable Survival and Growth Strategies
 
Epilogue
 
Index

In this book Pradip Chanda has distilled years of personal experience into powerful lessons for leading such a turnaround. Every senior business leader would benefit from reading this book.  

Sunil Gupta,
Edward W. Carter Professor of Business, Harvard Business School

In a disruptive scenario, practically every business faces crisis one time or the other and this book will sensitize you about the challenges, doable action plan and strategies.  

Dr Anil K. Khandelwal,
Former Chairman, Bank of Baroda and author of the bestselling book Dare to Lead

“In this book Pradip Chanda has distilled years of personal experience into powerful lessons for leading such a turnaround. Every senior business leader would benefit from reading this book.” 

Sunil Gupta,
Edward W Carter Professor of Business, Harvard Business School

[The book] walks us through the roadblocks faced by some companies, especially firms on the verge of collapse, and how they figured out that a few changes in the system could enable a complete turnaround, turning a ‘sick’ unit into a highly successful one. Hidden between the pages of the book is the secret of how organizations with the right resources and efforts have the ability to ‘rise like a phoenix’.

 

Businessworld, 22 July 2017

Both academics as well as practicing managers may find this book useful and practical, primarily because it draws on the author’s own experience as a turnaround CEO at HMV and turnaround consultant to many other companies to expand on four key components of a turnaround framework – asset utilization, cost management, renewal and rethinking business model.

Abhigyan, April – June2017

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ISBN: 9789386062420
$19.99