The Phoenix Effect
IN THIS SUMMARY
In this unpredictable economy, where corporate crises have virtually become a way of life, Pate and Platt have found that shareholders, employees, and creditors constantly ask, “What went wrong, and what could we have done differently?” The authors, both Certified Turnaround Professionals and experts in the art of restructuring underperforming companies, answer that question with The Phoenix Effect. It is a work that offers diverse perspectives on business renewal, condensed into nine comprehensive principles: identify the precise business problem being faced, determine the scope of the market, orient the business in order to differentiate the product, manage the scale of operations, handle debt, maximize assets, manage employees, maximize products, and create more efficient processes. These pivotal strategies, along with relevant case studies that demonstrate the effectiveness of each, are provided to guide senior managers and entrepreneurs in their initiatives to tune up their businesses, turn them around, or develop a crisis action plan.