‘When Cash is King’: squeezing the balance sheet for cash

Bo Arpi and Per Wejke

Chapter 4 in International Turnaround Management, 1999, pp 79-107 from Palgrave Macmillan

Abstract: Abstract The authors undertook a small and no doubt highly unscientific poll. It contained only one question: ‘In your opinion, what is the most urgent concern in a turnaround situation?’ Ninety per cent of the answers received fell into one of the following two categories: Group 1 (‘Deep Cuts’): Downsizing, cutting back, demassing, retrenching, streamlining, getting rid of bloated bureaucracies and other similar expressions, indicating the need to rapidly slim down a fat and often slow-responding (‘lazy’) organization. Group 2 (‘Whatever it takes, as long as it works’): Radically improving company profitability by whatever means necessary. To these respondents, the importance of the goal (that is, a successful turnaround) seems to justify almost all of the varied means available to a turnaround manager, provided they work and work fast.

Keywords: Strategic Business Unit; Fire Sale; Trouble Company; Successful Turnaround; Brussels Stock Exchange (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1057/9780230288850_4

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