Corporate Renewal Solutions Blog

View of and news about the topics and industries of corporate renewal, business transformation, turnaround and business rescue in South Africa.

Saturday, September 30, 2006

Myths in corporate transformation and turnaround - by Dr. Mike Teng

Dr. Mike Teng placed an interesting post that is well worth reading on his blog Corporate Turnaround titled Myths in Corporate Transformation and Turnaround.

These myths are:

Myth 1: Not vulnerable to financial crisis.

Myth 2: Nothing has gone wrong (self-denial).

Myth 3: Primary role of a turnaround manager is to cut cost to the bone.

Myth 4: It is a safe route to success doing business in Asia.

Myth 5: Textbook knowledge will suffice in helping executives manage a corporate turnaround situation.

Myth 6: “Firing shall continue till morale improves.”

Myth 7: Common sense alone will suffice.


This turnaround news flash was brought to you by Turnaround Solutions - turnaround management consulting firm rescuing distressed companies and improving results of underperforming companies in South Africa.