Riding the Wrong Wave

Sheppard, Jerry Paul; Chowdhury, Shamsud D.

doi:10.1016/j.lrp.2005.03.009

Cited by 97 publications

(13 citation statements)

References 34 publications

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“…15 Likewise, a study of the failure of T. Eaton Co. Ltd. (once Canada's largest retailer and the world's largest privately held department store chain) concluded that the company's inability to identify a series of failures in a timely manner contributed to the company's demise. 16 By contrast, the CEO of a mechanical contractor recognized the value of exposing failure and publicizing it in order to help employees learn from each other and not repeat the same mistake. The CEO:…”

Section: Identifying Failurementioning

confidence: 99%

Failing to Learn and Learning to Fail (Intelligently)

Cannon¹,

Edmondson²

2005

Long Range Planning

486

116

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Section: Identifying Failurementioning

confidence: 99%

Failing to Learn and Learning to Fail (Intelligently)

Cannon¹,

Edmondson²

2005

Long Range Planning

486

116

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“…Barker and Barr ( 2002 ) generally define the recovery effort as “an orchestrated and organized effort by the company's top management to respond to corporate performance problems”. Barker and Duhaime ( 1997 ), Gatti ( 2002 ), Chowdhury ( 2002 ), Sheppard and Chowdhury ( 2005 ), Charalabidis ( 2011 ), and Al-Turki et al ( 2019 ) state that a successful recovery takes place when a company is going through a performance decline that threatens its existence for a period of years but capable of reversing the decline in performance, ending the threat of survival, and achieving sustainable performance.…”

Section: Turnaround Strategy and Entrepreneurial Processmentioning

confidence: 99%

“…Balgobin and Pandit ( 2001 ) understand turnover as “the recovery of corporate financial performance after a decline threatening the existence of the company”. Similarly, Sheppard and Chowdhury ( 2005 ) report that “recovery is defined as the action taken to prevent the occurrence of financial disaster”.…”

Section: Turnaround Strategy and Entrepreneurial Processmentioning

confidence: 99%

Implementing turnaround strategies as an entrepreneurial process

et al. 2022

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Recovery strategy belongs to the group of rescue/reversing business strategies and is used mainly by companies facing financial or other problems which they are trying to overcome. Moreover, this strategy is alternatively used by companies wishing to prevent future problems. The overall objective of the recovery strategy is to return of this sluggish situation in terms of acceptable levels of profitability. The implementation of turnaround strategy achieved through the implementation of proper planning and specific procedures (processes) like: Change management, divestitures of specific assets (divestment), cost reduction (cost reduction—operating and others), and strategic acquisitions. This strategy is so drastic, that in many senses it is like creating a new company, so it has many similarities to an entrepreneurial process. Obviously, there is a previous experience by managers, but when implementing this radical strategy, they must think in developing something new. The main objective of this paper is to explain how to implement a successful turnaround strategy during a recession phase of the economy. To analyze the turnover strategy, we developed a survey to 152 trading and industrial Greek companies that represent more than 3% of the Greek GDP. The study examines the role of successful turnaround based to whom formulated the strategic plan of the company, investigating the knowledge of the Greek managers on the tactics implemented during a turnaround plan. The paper offers information for management practitioners to understand how to implement a turnaround strategy in a turbulent economic environment, and which tactics apply.

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“…For example, as the situation deteriorates, CEOs' tolerance of negative feedback tends to decrease, which generates particular dynamics. As noted above, a well established body of research has demonstrated that management behaviours, roles and power vary across life cycles stages 9 . Thus, by studying boards' dynamics over the different stages of failure, this article adds a complementary perspective to the current state of knowledge on boards' dynamics in failing firms.…”

Section: Introductionmentioning

confidence: 98%

The Dynamics of Boards of Directors in Failing Organizations

Mellahi¹

2005

Long Range Planning

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Riding the Wrong Wave

Cited by 97 publications

References 34 publications

Failing to Learn and Learning to Fail (Intelligently)

Failing to Learn and Learning to Fail (Intelligently)

Implementing turnaround strategies as an entrepreneurial process

The Dynamics of Boards of Directors in Failing Organizations

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