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FROM STABILITY TO GROWTH AND BEYOND
The famous British writer Samuel Johnson astutely observed that “nothing so concentrates the mind as the sight of the gallows.” Turnarounds represent life-or-death challenges for companies. They focus the corporate mind. Those companies that avoid execution live to fight another day. This chapter addresses the three subsequent stages—stability, growth, and transformation—that follow a turnaround. Each has unique attributes and challenges. It’s important to execute each stage properly to avoid regressing and, god forbid, having to execute another turnaround.
STABILITY STAGE
After the “Sturm und Drang” of the turnaround, surviving companies segue into a period of stability. All of a sudden, leaders realize ...
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