Rise Like a Phoenix: Scripting Corporate Turnarounds

Rise Like a Phoenix: Scripting Corporate Turnarounds

by Pradip Chanda

Paperback(First Edition)

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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.

Product Details

ISBN-13: 9789386062420
Publisher: SAGE Publications
Publication date: 02/28/2017
Edition description: First Edition
Pages: 200
Product dimensions: 5.50(w) x 8.40(h) x 0.50(d)

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.

Table of Contents

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

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