The full title of this book by Henry Moore is
“Business Turnaround: How to do it: A guide for advisers and managers“.
When I reviewed it on Amazon.co.uk, I gave it a Four Stars rating, which means I consider it to be in the good to very good range.
Here is my review.
A good summary of how to professionally manage a business turnaround
The author originally wrote this book as a training resource for new employees in his turnaround management business. The guide was then used for other professional turnaround projects and finally, was published more widely.
It is written to help professional turnaround managers to go into an unfamiliar business, to take operational control over the existing management team, to prepare a turnaround plan and then to implement it. The book can be read by managers in a distressed business but some of its contents isn’t relevant. It will help set expectations if a turnaround manager is forced on your business by a bank.
The book explains the steps needed for a turnaround and how the steps need to be overlaid as the manager determines whether the business can be made viable while quick improvements are made to buy extra time. It gives advice on how to deal with the existing senior management and there’s a good chapter at the end about the issues involved with family businesses.
The book is based on the UK although the author has tried to allow for different legislations by telling you to check rather than explaining what happens in different countries.
Generally it is well written although there are quite a few typos and some of the kindle formatting isn’t very good. The kindle table of contents isn’t developed either.
I thought the weakest part of the book was what to include in the turnaround plan. I expected a more comprehensive strategic assessment of opportunities and more tips on generating extra sales and margin along with more ideas on how to trim unnecessary costs. I totally agree that each turnaround situation has unique aspects and these need tailored solutions but there are also standard remedies to consider.
I like this book but I read it through my kindle unlimited subscription and I haven’t bought it to add to my permanent business book library. That’s partly due to the price but also because I’m hoping there will be better, more comprehensive books available.
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