Turnaround Management. Corporate Renewal and Restructuring During Time of Financial Distress

      Аннотация: BUSINESS FAILURE and winding-up are of growing concern in the business community where the complexity of the environment and the tough global competition can turn into distress. The context of the research is the study of the advanced status of crisis for an organisation, which cannot be any longer ignored without seriously compromising its future: the so called ‘turnaround management’. Through an extensive study of relevant literature and the implementation of practical research, moreover to assess the validity of the main turnaround models recommended by executives, professionals and academic writers. The latter is carried out through the comparison of two Case Studies: Fiat & IBM Groups. It is produced a number of key findings: recent surveys confirm a significant increase of bankruptcies but even many successful turnaround cases. They represent evidence of objective possibility to become newly profitable if the right strategies are enforced. Those organisations with a lack in their capacity may still steam the distress addressing the remaining resources toward the correct actions following the turnaround management best practice.

Ключевые слова: restructuring, TURNAROUND MANAGEMENT, business renewal, alternative finance, buiness optimization