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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Carter Pate and Harlan Platt's book: "The Phoenix Effect: 9 Revitalizing Strategies No Business Can Do Without".
This complete summary of the ideas from Carter Pate and Harlan Platt's book "The Phoenix Effect" answers one of the biggest questions in the business environment: why do so many successful companies fail? In their book, the authors present their research and conclude that these failures are the result of managers that refuse to accept that they are losing and fail to take action. This summary provides a detailed insight into the reasons behind business failures, meaning you can keep an eye on your own strategies and know when it's time to act.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "The Phoenix Effect" and discover how you can ensure that failures in your company are spotted in time and turned around.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 36
Veröffentlichungsjahr: 2014
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Book PresentationThe Phoenix Effect by Carter Pate and Harlan Platt
Book Abstract
About the Author
Important Note About This Ebook
Summary of The Phoenix Effect (Carter Pate and Harlan Platt)
Before Beginning: Get to the point of all the pain
Strategy #1: Decide on the firm’s optimum scope
Strategy #2: Orient and then differentiate the business
Strategy #3: Decide on the best size for the business
Strategy #4: Handle debt
Strategy #5: Get the most from your working capital
Strategy #6: Get the most from your employees
Strategy #7: Turn out well positioned products
Strategy #8: Find the best way to produce the product
Strategy #9: Improve the firm’s functional processes
Book PresentationThe Phoenix Effect by Carter Pate and Harlan Platt
Book Abstract
MAIN IDEA
From time to time, just about all businesses face a need to improve their performance. Generally speaking, these demands for change come in three strengths:
Good companies are seeking to become great companies by undergoing a bit of a corporate tune-up.Troubled companies realize they have serious problems – and therefore a corporate turnaround program is needed.Companies facing a crisis need sound crisis management if they are to snatch success from the jaws of imminent failure.The Phoenix Effect is a set of nine strategies which can be used in all three situations to revitalize a business. In essence, these strategies take a firm from where it is today to where it wants to be in the future as effectively as possible. They are the strategies of planning, engineering and then delivering a great comeback. The Phoenix Effect strategies are those used by good companies which endure through good times and bad.
“America is a metaphor for second chances. Built on comebacks, it is the one culture where failures nearly always get another crack at success, providing they display the savvy and spirit needed to get off the canvas and start swinging again. That’s the premise of the Phoenix Effect: Never say never. The Phoenix Effect is a testament to what has worked for scores of others, and it will surely work for you. We dedicate this manual of business self-renewal to all those who showed us how to show you the way back. Most of all, we dedicate it to your own company’s revitalization. They made it; you will, too.”
– Carter Pate and Harlan Platt
About the Author
CARTER PATE is in charge of financial advisory services at PricewaterhouseCoopers. He has more than 20-years’ experience providing strategic consulting and implementation strategies and has been in charge of a number of major corporate restructurings. Mr. Pate has served as CEO and chairman of several public companies. He was also a founding partner of Pate, Winters & Stone, a consulting firm.
HARLAN PLATT is a professor of finance at Northeastern University in Boston. His specialist fields are corporate bankruptcy and crisis management. Mr. Platt is a founder of the Association of Certified Turnaround Professionals and 911 Risk Inc. (a company which develops models to predict financial distress). Mr. Platt also serves on the boards of directors of numerous companies listed on the NYSE, Nasdaq and Irish Stock Exchange.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of The Phoenix Effect (Carter Pate and Harlan Platt)
Before Beginning: Get to the point of all the pain
Main Idea
Before starting on the corporate renewal process, decide whether the problems facing the company call for a tune-up, a turnaround or crisis management. Get to the point of why the pain will be worth enduring.
Supporting Ideas
Before being able to write a prescription, a physician has to diagnose the patient’s condition. Similarly, before deciding on the best path to pursue for any corporation, it is essential for a turnaround manager to begin by having an accurate idea of what the true current situation is.
Thus, the first questions a turnaround manager should ask are:
“Have any laws been broken?”“Has there been any embezzlement or corporate fraud?”“Have any taxes which are due not been paid or withheld?”
