Brief Description
Are You Ready to Script Your Company's Turnaround?
Learn More about the Book
When ailing companies are on the brink of collapse, the biggest question that owners have is whether a turnaround effort is worth shedding their blood, sweat or tears. The direct stakeholders, that is, the employees, the labour union and the ancillary units' employees believe that a turnaround is always possible?all that is required is a change in management. The indirect stakeholders, that is, the shareholders and the lenders will be sceptical and wonder whether further resources should be showered on an under-performing company. Their preferred option is to get their money back by liquidating saleable assets, even if it is only 10 cents to the dollar. This book explains how smart managers unlock the value of hidden or neglected assets to successfully turn 'basket' cases around. Using residual values of a company's 'under-valued' assets, the book helps in tapping the existing resources and proposing a 'frugal turnaround' approach rather than just pumping money or changing top leadership.
About the Author
Pradip Chanda is a management consultant, author, columnist and noted speaker on the subject of corporate turnarounds and start-ups.
During a corporate career lasting more than 40 years, including 20 as a CEO, Pradip s core competency has been the ability to conceptualize and champion clear business strategies while maintaining focus on achieving operational results. Following graduation from Calcutta University, Pradip began his working career as a management trainee at Hindustan Unilever Ltd, Bombay in 1966. He spent the next 19 years holding senior management positions in marketing and new product development with Unilever and GlaxoSmithKline, based in Bombay, Delhi and London. In 1985, Pradip shifted to the entertainment industry as president and CEO of Gramophone Co. of India Ltd, better known as HMV. HMV s turnaround, from the verge of closure to its re-emergence as the #1 music company in India, is perhaps the most successful restructuring case in India of its time. While, at HMV, Pradip made a significant contribution in steering the adoption of an internationally acceptable IP protection regime for entertainment software in India, and setting up anti-piracy initiatives as the president of Indian Phonographic Industry (1986 93), an affiliate of IFPI (International Federation of Phonographic Industries).
Since 2002 Pradip has worn a number of different hats author, business strategy consultant, professor, mentor to three start-ups in media, entertainment and technology.
Review Quotes
1.
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 "
2.
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 "
