A&M’s Malcolm McKenzie was recently interviewed by Matthew Gwyther for BBC Radio’s ‘In Business’ looking at corporate turnarounds. Malcolm, who Matthew describes as a “new breed of corporate doctor,” discusses the best approach to turnarounds and how to “tend to critically ill businesses.”
Malcolm describes the steps companies need to take: first establish how bad the situation is; identify if it’s restructuring or transformation; build a fact-base and maintain objectivity; develop a simple plan around the main change levers, and then build momentum and get traction within the business.
The interview also includes discussions with several leading turnaround CEOs including Saad Hammad, CEO of Flybe and Tim Parker who was turnaround Chief Executive of a series of major businesses including Clarks Shoes, the AA, Kwik-Fit and Samsonite.
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