Chapter 8. Turnarounds at (Intentionally) Nonprofit Organizations

Many turnaround managers joke about having worked with dozens of nonprofit organizations, a few of which were even intentionally so. Each semester, I always dedicate one full class session to the topic of turnarounds at nonprofit organizations, for two reasons. First, more and more managers are pursuing roles in such groups as concepts of sustainability and social entrepreneur-ship become more popular. Second, even the would-be investment bankers and corporate litigators that I teach will one day serve on nonprofit boards, whether their motivation is altruism or a desire to get better seats at the opera or symphony. Many are surprised to find that though nonprofit organizations ...

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