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When Crises Represent an Opportunity: Insights into Corporate Turnarounds

In: More than Bricks in the Wall: Organizational Perspectives for Sustainable Success

Author

Listed:
  • Achim Schmitt

    (Audencia Nantes School of Management)

Abstract

Today’s business literature deals primarily with organizational growth and how to achieve sustainable corporate success. By comparison, organizational decline and corporate turnarounds have received very little attention in academic research and executive education. This is mainly due to a lack of access to data. As a result, academic literature has little to say about how to manage during turnarounds. Furthermore, the typical management curricula seldom teach prospective managers how to deal with decline and stress. Between 2004 and 2008, we conducted qualitative and quantitative research on how organizations respond to situations of organizational decline. The results provide answers to some prevalent ‘rumors’ about decline and turnarounds.

Suggested Citation

  • Achim Schmitt, 2010. "When Crises Represent an Opportunity: Insights into Corporate Turnarounds," Springer Books, in: More than Bricks in the Wall: Organizational Perspectives for Sustainable Success, pages 78-86, Springer.
    • Handle: RePEc:spr:sprchp:978-3-8349-8945-1_8
    DOI: 10.1007/978-3-8349-8945-1_8
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