Humane Turnarounds

Abstract

Rampant industrial sickness has become a characteristic feature of the dynamics of rapid industrial development in both the developed as well as the developing economies. However, in the context of developing economies, there is an urgent need to revive sick organizations given the reality of an acute resource crunch. It is in this context that the development of a relevant model of turnaround management becomes significant.

In this article, Pradip N Khandwalla describes the significant elements of a humane brand of turnaround management based on his analysis of the experiences of several corporate turnarounds.