CORPORATE TURNAROUND

FIGURES AND TABLES	xi
ABOUT THE AUTHOR	xiii
FOREWORD	xv
PREFACE	xvii
ACKNOWLEDGEMENTS	xxi
CHAPTER ONE ~ INTRODUCTION	1
CHAPTER TWO ~ PHYSICAL AND FISCAL HEALTH	7
Medical Analogy: Human Being Versus Company	7
Why Do Companies Fail?	10
Internal and External Corporate Viruses	12
The Asian Virus	26
Competition, Competition, Competition	35
Going Back to the Basics	37
CHAPTER THREE ~ PHASE I TREATMENT: SURGERY	40
Example: Local Company Afflicted with Cancer	40
What is the Surgical Phase?	41
Communication	42
Concentration	48
Cost Control	54
Cash Flow	65
Phase I is Not Enough	72
CHAPTER FOUR ~ PHASE II TREATMENT: RESUSCITATION	74
Example: Multinational Company with a Heart Problem	74
What is the Resuscitation Phase?	75
Ascertaining Corporate Objectives	76
Staying on the Ground/Using Consultants (If Necessary)	77
Focusing on Customers and Competitors	81
Developing the Right Product and Price	93
Implementing an Aggressive Marketing Strategy	97
Differentiating Yourself Using Service Quality	101
Strengthening Your Brand Name	104
Investing in Future Expansions	106
Why is Phase III Necessary?	113
CHAPTER FIVE ~ PHASE III TREATMENT: NURSING	119
Example: Organisation with a Weak Immune System	119
What is the Nursing Phase?	120
Incorporating a New Corporate Philosophy	122
Strengthening the Free Flow of Internal Energy	134
Instilling a Strong and Healthy Corporate Culture	141
Engendering Action-driven Orientation	151
Eating a Balanced Diet: Vision, Feedback, Action	164
Promoting Active Communication	168
Cultivating a Positive Mental Attitude	172
Emphasising Exercise: Training and Development	178
People, People, People	182
CHAPTER SIX ~ CONCLUSION	188
Possible Applications of the Turnaround Phases	188
Parallels Between Corporate Turnaround and Medical Treatments	190
A Comparative Summary of the Turnaround Phases	193
EPILOGUE	197
FURTHER READING	201
INDEX	203