‘Suppliers' credit running at an indecent length’ …. ‘cash used as though it were Monopoly money’ … ‘plenty of paperwork, but the figures were so much junk’ … these, in Dr Adolf Frankel's words, were some of the problems facing him when he took over control of Staveley Industries. To get the ailing engineering and chemical giant on a healthier footing, Frankel got management to do its sums properly and cut the machine tool division's 5,000 workforce by 50%. In a wide‐ranging interview, Frankel tells Ken Gooding that in his view a lot of management consultants are ‘phoney’ and explains why he admires his former boss at GEC, Arnold Weinstock.
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