Rise Like a Phoenix: Scripting Corporate Turnarounds

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.

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 main-taining 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 develop-ment with Unilever and GlaxoSmithKline, based in Bombay, Delhi and London. In 1985, Pradip shifted to the entertainment industry as presi-dent and CEO of Gramophone Co. of India Ltd, better known as HMV. HMV's turnaround, from the verge of closure to its re-emer-gence as the #1 music company in India, is perhaps the most suc-cessful restructuring case in India of its time. While, at HMV, Pradip made a significant contribution in steering the adoption of an internationally acceptable IP protec-tion 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.

Review :
"In this book Pradip Chanda has distilled years of personal experience into powerful lessons for leading such a turnaround. Every senior business leader would benefit from reading this book." --Sunil Gupta, [The book] walks us through the roadblocks faced by some companies, especially firms on the verge of collapse, and how they figured out that a few changes in the system could enable a complete turnaround, turning a 'sick' unit into a highly successful one. Hidden between the pages of the book is the secret of how organizations with the right resources and efforts have the ability to 'rise like a phoenix'. --Businessworld, 22 July 2017 Both academics as well as practicing managers may find this book useful and practical, primarily because it draws on the author's own experience as a turnaround CEO at HMV and turnaround consultant to many other companies to expand on four key components of a turnaround framework - asset utilization, cost management, renewal and rethinking business model. --Abhigyan, April - June2017 In a disruptive scenario, practically every business faces crisis one time or the other and this book will sensitize you about the challenges, doable action plan and strategies. --Dr Anil K. Khandelwal, "Former Chairman, Bank of Baroda and author of the bestselling book Dare to Lead" In this book Pradip Chanda has distilled years of personal experience into powerful lessons for leading such a turnaround. Every senior business leader would benefit from reading this book. --Sunil Gupta, "Edward W. Carter Professor of Business, Harvard Business School"