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Management - Crisis Management /Turnaround Management

The information on this page covers several aspects of crisis management and turnaround management. A very important issue are early warning signs, since chances for a successful turnaround are best in the early stages of a crisis.
Management of a crisis involves managerial issues such as analysis of the causes, interim management, development and execution of a turnaround plan, as well as legal issues and issues of communication with various internal and external stakeholders.  

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 How Will You Measure Your Life? by 2013 Thinkers50 Award Winner Clayton M. Christensen



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25 September 2009

Coping when a public relations crisis occurs When a crisis arises, don't be so eager to speak or to act that you do so without thinking. Heed the advice Wyatt Earp once offered an eager admirer who asked him the best way to survive a gunfight. Earp replied, "Take your time quickly and aim carefully."  new
Corporate Ownership Structure and the Evolution of Bankruptcy Law in the US and UK This paper offers an account of the complementarities between bankruptcy law and ownership structure, which it is argued can explain developments in both the UK and the US. By identifying the effects of concentration or dispersion in firms’ capital structure (across both equity and debt), and by analysing implications of these capital structure choices for bankruptcy, the paper develops a richer account of the corporate governance patterns we see in different nations.  
Customising your Disaster Recovery Plan Your business is unique, your DRP should be too  
Energizing Employees in Recessionary Times Try Motivating, Not Mandating One dimension of cost-cutting is often disregarded—the critical need to ensure cost cuts occur in ways that obtain positive emotional commitment within the context of the culture. In this commentary piece we explore how effective cost reduction capitalizes on and reinforces company culture—and integrates emotional commitment of the workforce with the strategic imperatives for the business.   
Everyday Crisis Management Companies need to focus on crisis preparedness as a whole guarding their most important asset-their people.   
High Tech Product Turnaround - Project Crisis Recovery This article answers the following questions: What can a High Tech Turnaround Specialist achieve and in what circumstances ? What steps does the Specialist take ? What should a business expect ? Selecting a Specialist.  
How to Avoid Blame in the Aftermath of a Crisis Regardless of the actual causes of and liabilities for a crisis, whenever one occurs people look around for someone to blame. Should a crisis hit your company – whether or not you are actually at fault – you still must be ready to defuse and minimize the potential for blame.   
How to Negotiate Debts Stories of two companies who got into serious trouble and how they managed to pull themselves out. Once a company runs into trouble, management can bet there are a lot of people standing in line waiting to be paid.   
Incorporate Social Media into Your Crisis Management Plan This is a blog post that explains why and how you should incorporate social media into your crisis management plan. Aneta Hall says that you must add the following social media components to your existing crisis communication plan well BEFORE the crisis unfolds.  
Insolvent Abuse: Regulating the Insolvency Industry This monograph draws attention to the shortcomings of the insolvency industry. It draws attention to real-life cases showing that the insolvency industry is out of control.   
Modality planning for preventing tunnel vision Crisis management is a time-critical task with high uncertainty and high risk. Stress and cognitive overload often result in a set of bias in crisis manager’s situation understanding and information confirming processes, known as “tunnel vision”.   
Six Steps to Preparing a Rudimentary Crisis Communication Plan Once you’ve decided to prepare a crisis communication plan, a sensible precaution is to prepare for the worst case scenario. That way they’ll be prepared to cope with a big disaster or less-serious incidents. It is, after all, fairly easy to scale-back and handle minor problems if you're prepared for big ones, but it can be horrendous to try to manage something worse than you anticipated.  new
Social Media and Risk Communications during Times of Crisis Social media tools are shaping how crises are communicated and response is coordinated in public health and emergency management communities.   
Strategic Integration: A Knowledge Management Approach to Crisis Management Every day, businesses are threatened by crises that could have been prevented or their impact lessened if only knowledge of causal and influencing factors were known and better managed. Better knowledge management, we contend, can help firms anticipate these factors and design thoughtful policies to lessen the impact of such events.   
Sustainable Restructuring The companies that emerge from the downturn will be those that make short-term decisions based on long-term strategy.   
The ABCs of Business Continuity and Disaster Recovery Planning If something really nasty happened, could your business get back up and running? More important, how would you continue to make money? Here's how to plan for the worst. 2004  
The Cycle of Corporate Distress, Rescue and Dissolution A Study of Small and Medium Size UK Companies. Pdf-file  
The Operational Audit An Overlooked Tool. This is a preferred option for dealing with a covenant default  
The Seven Deadly Sins a Turnaround Manager Commits    
The Show Must Go On Having a contingency plan and being able to execute it will ensure the bottom won't fall out of your bottom line.   
Turnaround Plan It's not a Turnaround Plan Until Several Groups Say it is: How to Communicate with Committees and Groups  
Turnaround Specialists How They Help The Attorney. The Role of a Crisis Manager and How To Hire One  
Understanding and Responding to the Crisis As senior managers get past the strategic paralysis they suffered in the first stage of the financial crisis, they will need to respond in an appropriate and structured way. They will also need to figure out which changes to make first.  2009  
Walking on water or sinking without a trace? Six behaviors that describe strong crisis leaders. Pdf-file 108 KB. 2004  
Why do Companies really Fail? I Most people talk about a 'failure to execute', but Angel Mehta argues that there is something even more fundamental behind the majority of corporate failures - especially for startups. The first of a series of articles on a mission critical success factor that ranks among the lowest of business priorities.   
Why do Companies really Fail? II In this follow up to his article on the importance of emotional maturity, Angel Mehta delves further into the topic of why companies fail to execute. Drawing on his experiences in executive search, Angel describes two tragic flaws that ruin executive careers and often represent the 'real' reason behind organizational failure.  
Your Good Name: After You've Lost It What do you do when a scandal destroys your company's reputation? You rebuild it -- step by painstaking step -- but the outcome isn't always happy.  



Publications   Literature
Thoughts on the Lifecycle of Corporations
By Dagmar Recklies 
Experience shows that the time span of successful corporate activity is not endless in most cases. Of course, there are many corporations with a history of 50 years and longer. Nevertheless, the number of companies – no matter what size – that have been existing for 100 years or even longer is much smaller. This article looks at some reasons why older companies are more inclined to failure then younger ones.

Crisis Leadership Now: A Real-World Guide to Preparing for Threats, Disaster, Sabotage, and Scandal
by Laurence Barton
Barton takes you through his journey of advising senior executives on crisis events and examines:
* The characteristics that define a true crisis
* Proven strategies to help you understand and respond to early warning signals
* Ways to mitigate threatening situations
* How to effectively communicate your decisions in a timely manner to employees, shareholders, customers, and other constituencies


Ongoing Crisis Communication: Planning, Managing, and Responding
by W. Timothy Coombs
This book provides an integrated approach to crisis communication that spans various disciplines as well as the entire crisis management process. Drawing on firsthand experience in crisis management, author W. Timothy Coombs uses a three-staged approach to crisis managementpre-crisis, crisis, and post-crisis. A truly integrative and comprehensive text, this book explains how crisis management can prevent or reduce the threats of a crisis, providing guidelines for how best to act and react in an emergency situation.



Harvard Business Review on Crisis Management (A Harvard Business Review Paperback)
In the rapidly changing world of business, close calls and near misses are not uncommon. Obtaining the managerial skills and tools to effectively manage or avoid these crises is critical to the survival and success of your organization. Harvard Business Review on Crisis Management highlights leading ideas on how to deal with difficult situations, crises, and other sensitive topics in a business environment.




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Status: 03. Juli 2015