Turning around a company in distress

INSEAD Professor Claudia Zeisberger interviews turnaround experts Sankar Krishnan and Nikhil Shah on the case of an Indian textile manufacturer which found itself in hot water over some management irregularities.

[@joeyalfaro2323]

Most overlooked resorse is employee ask him questions take him out lunch. Let him run shoulders with you. He will spill beans on what went wrong and has friends. Friends that are to insiders in maybe supply chain. Don't be cheap with employee he is doing heavy lifting. I'm not asking you I'm telling you

[@yawbanaheneadjei4758]

Need for a clear plan for recovery which must highlight efficiency and profitability of operations.Variance Analysis for timely actions to remain focus on plan Key performance indicators.Working Capital Management to ensure cash availability which is the lifeblood of every company. As said Cash is King and profit is not cash which as most businesses fail not because of profit but rather lack of cash.

[@BBBarua]

Observe, slow down the drain, plug the hole and punch upward. People Management is the key.

[@cornebotha2204]

Sterkinekor is in process of business rescue, a cinema company, in my town we only have Sterkinekor, the business rescue extend to 30th April, so what will be the business turnaround to be!!!

[@dr.wezisunkutumd8745]

Great stuff here.