If your company is in trouble, no one’s going to hold your hand while you work through it. However, The Art of The Turnaround: How To Rescue Your Troubled Business From Creditors, Predators and Competitors provides some practical management advice from turnaround consultant Matthew L. Shuchman an syndicated columnist Jerry S. White.
Shuchman and White advocate logical incrementalism–continual and gradual adjustments in strategy fir avoiding business failure–over long- term strategic planning. In keeping with this, they outline a series of short-term steps for combating a number of turnaround challenges, such as managing receivables, reducing overhead, negotiating with creditors and handling personnel.
The text also gives detailed advice that serves to demystify the bankruptcy process. For that reason alone, even if your business is not in trouble, this book is at least worth browsing through.
The Art of The Turnaround, by Matthew L. Shuchman and Jerry S. White, AMACOM Books; $24.95