This article showcases our top picks for the Books on Turnaround Strategy. We reached out to industry leaders and experts who have contributed the suggestions within this article (they have been credited for their contributions below). We are keen to hear your feedback on all of our content and our comment section is a moderated space to express your thoughts and feelings related (or not) to this article This list is in no particular order.
This product was recommended by Hannah Dworkin from USScrapYard
Miller had an extensive experience in managing businesses that were in financial crises. This is an autobiography that describes what he did in the many businesses he worked with, and it is a very good read that is full of amazing tips for managers, business owners, and even investors.
Sandy Steinman has a unique insight that allows him to determine the changes that a company needs in order to improve their profitability and to quickly and painlessly assist the company in the implementation of the processes needed to bring about those changes. This guide isn’t based on theories but on tried-and-true methods of turnaround strategies that Steinman has implemented to help pull his clients’ businesses out of trouble. He also includes helpful spreadsheets and forms you can use to put your turnaround plan down on paper and into action, so you can gain better control over your business’s cash flow and build a winning strategy to improve your situation.
This product was recommended by James Diel from Textel
The Lean Turnaround will transform how you look not just as turnaround strategy, but business strategy as a whole. The authors focus on reorganizing your classic departmental silos into value streams, building bonus scales that benefit and motivate every teammate, and managing your business by process, not numbers. At the heart of their methods? Avoid excess inventory at all costs.
This product was recommended by John Li from Fig Loans
Shein writes a guide to help leaders turn around their companies with proven strategies that work at every stage of distress. Whether you choose restructuring, downsizing, or another turnaround approach, this guidebook gives you simple step-by-step instructions to get back on track. With the Turnaround Tripod, you combine the strength of strategic, operational, and financial changes to build a strong base for your new business structure.
How Trump Wins and How You Can Too With The Turnaround Mindset & 7 Aspects of Strategy is a book that explains the principles of strategy used by Trump to gain competitive advantage and win in the marketplace. It includes how Trump won, continues to win and will likely continue to compete by applying certain principles. Faust is one of the authors who has introduced turnaround angles and showed how Trump leveraged the idea of a Turnaround Mindset as clearly as anyone. This book gives an insight on how to facilitate strategic dialogue among others on your team and begin to execute strategy in very practical terms.
For business leaders looking to leverage real expertise, whether in response to a crisis or in anticipation of one, this book is a top resource. Paley offers constructive, clear and helpful strategies based upon experiential knowledge, allowing different management styles access to the skills needed to both develop and implement a high quality turnaround plan.
This product was recommended by Harriet Chan from CocoFinder
This book is a comprehensive, practical guide that helps in achieving optimal performance. It covers all aspects of the turnaround process from its inception to implementation. Turnaround management is a critical component of business strategy and operations. A successful turnaround requires careful planning and coordination across different organizational functions and stakeholders. This comprehensive guidebook provides practical tips and guidance for businesses seeking to implement effective turnarounds and achieve optimal performance. It covers everything from the business goals this turnaround management can achieve to the best ways to implement a turnaround strategy and achieve concrete results. You’ll learn how to identify the signs of a struggling organization, evaluate the current business landscape, and develop an effective plan for change at a low cost to the business.
This product was recommended by Mimi Paul from Starkflow
This book blends concept with structure, ideas with process, activity with outcomes. There is just too much here to digest in one sitting. It breaks down and demystify the elusive grails called innovation and change and places them in the right context — turnaround. This book will appeal to an action-oriented leader. I think this book could be a critical touchtone or reference point throughout a company to focus its turnaround efforts and really unleash potential.
This is a classic book on corporate turnaround that combines academic research with practical management advice. Packed with insights from real-world practitioners, it delivers a solid understanding of the keys to a good turnaround. The practical frameworks it contains can be used as a strategic roadmap for turning around businesses both small and large. I have referred to this book countless times during the course of my work as a consultant.
There’s no question that every business goes through tough times. When sales are down, expenses are high, and the competition is fierce, it can be difficult to know what to do to revive a dying business. That’s where turnaround strategies come in. In his book Turnaround Strategies: How To Revive A Dying Business, Sir Gedi provides an in-depth look at identifying and addressing the problems that are causing your business to flounder. If you’re looking for solid advice on saving your business, this is the book for you! Sir Gedi’s book is packed with helpful information on turnaround strategies. He begins by discussing how to assess the health of your business and identify the warning signs that indicate it may be in trouble. He then provides a step-by-step guide to implementing turnaround strategies, including how to develop a plan, build a team, and execute the plan. Throughout the book, Sir Gedi provides real-world examples of businesses that have used turnaround strategies to achieve success. If you’re looking for guidance on how to revive your dying business, Turnaround Strategies: How To Revive A Dying Business by Sir Gedi is a must-read.
In this wonderful and important book, Jeff Sands Cip shows techniques to steer the business through times of financial distress and achieve sustainable profitability. This book is a complete guide for an entrepreneurial company in financial distress. Corporate turnaround artistry presents an effective way and proven methods to revive and enhance business through securing financial relief, cash flow, lean management techniques, and developing a comprehensive turnaround plan that creditors, customers, and employees will support. Author jeff’s writing style is very conversational and easy to understand.
Turnaround strategy for businesses in a time of economic down turn. The book highlights 10 must-read books on managing in a downturn and the author provides brief summaries of each book. The core principle of the turnaround strategy is that it should be built around what the company does or creates to benefit them, not focus on competitors. The key is to create a business that creates more value with the same resource. Key areas of focus are cash management, supply chain, inventory, technology and HR. The author discusses why books are so valuable to an individual and how reading them can ensure a successful turnaround strategy. The best way to manage during these times is to smartly time when you should spend money or reduce expenses in order to turn around and save the business or lift sales revenue.This book was well organized and the summaries of each book were clear and concise. I would recommend this read to anyone who wants to know how some of the greatest minds think during a downturn and the best strategy to follow.
This product was recommended by Lucie Chavez from Radaris
Do you need to change the direction you and your business are heading in and steer the ship in another direction? This book by Lyle E. Schaller might be able to help. It’s all about re-inventing yourself and changing the way you’re operating – and doing it successfully. Is your business designed to fail? Maybe it is and you are unwittingly headed in the wrong direction. This book will let you know more about where you’re headed and what you can do to potentially change where you may end up.
It gives you clear directions on how to get your business back on track after it’s gone off the rails. She teaches the reader the discipline of process engineering, where you thoughtfully analyze everything your business does and how it does it. Her tips for visualizing the future, breaking down the present, creating a path to your future, and executing with confidence and diplomacy is instrumental to any business.
This product was recommended by Robin Roy Krigslund-Hansen from Formula Swiss
I recommend this this book highly if you’re looking to take a different, positive approach to life and work. I’m a big fan of Simon Sinek and the tools summarised can be easily applied in real life, it’s so inspirational, I love the way he uses real history to bring his ideas to life. Brings together his theory – from the famous TED talks – into a neat and in-depth narrative, which is a superb reference tool for any entrepreneur. This book is for everyone who wants to inspire others or to be inspired.
This book talks about the optimal usage of the existing resources impacts the business operation positively. Instead of changing the top leaders and adding extra investments, thinking out of the box enables the best turnaround in the business administration. The author convinces the readers that the wise planning of the current resource can change the productivity count to appreciable ones.