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Article
Publication date: 26 April 2013

Richard Schoenberg, Nardine Collier and Cliff Bowman

Against a backdrop of continued weak economic conditions and with many firms experiencing declining financial performance, this paper presents a synthesis of the business…

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Abstract

Purpose

Against a backdrop of continued weak economic conditions and with many firms experiencing declining financial performance, this paper presents a synthesis of the business turnaround literature. It aims to identify which turnaround and recovery strategies have been effective historically, based on the evidence provided by previous empirical research.

Design/methodology/approach

The authors review literature that includes 22 empirical studies, which investigated business turnarounds in previous recessionary environments. This literature was reviewed in its entirety, rather than as individual contributions, to synthesise the lessons available for businesses operating in today's challenging economic environment.

Findings

The literature review revealed convergence in the findings of the prior studies. In total, six effective turnaround strategies were consistently identified and four of these relate to the content of the turnaround, namely: cost efficiencies, asset retrenchment, a focus on the firm's core activities and building for the future and two relate to accompanying change processes required for implementation: reinvigoration of firm leadership and culture change.

Research limitations/implications

The authors highlight areas where knowledge on business turnarounds remains limited and suggest potentially fruitful directions for future research.

Practical implications

The authors discuss the elements involved in each of the six effective turnaround strategies identified. The authors also provide a contemporary example to illustrate the application of these strategies in the current economic environment.

Originality/value

The paper offers practitioners an evidence‐based view on effective business turnaround and recovery strategies, in addition to providing researchers with an accessible review of the existing literature.

Details

European Business Review, vol. 25 no. 3
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 20 February 2009

Véronique Ambrosini, Nardine Collier and Mark Jenkins

In this paper the aim is to concentrate on the impact that various types and combinations of knowledge can have on firms.

Abstract

Purpose

In this paper the aim is to concentrate on the impact that various types and combinations of knowledge can have on firms.

Design/methodology/approach

After a review of the literature the authors conceptually configure the extant understanding of knowledge over eight configurations. They illustrate each configuration with practical examples.

Findings

This configurational approach provides a basis for identifying potential complementarities and conflicts regarding the dynamics of organisational knowledge in competitive settings. It allows for a better understanding of knowledge in organisations and its link with competitive advantage.

Practical implications

The authors' argument can be used by managers to help them think of how knowledge is configured within their firm. By doing so they might better understand how this knowledge configuration might give them a competitive advantage.

Originality/value

This paper uses some traditional knowledge concepts but by proposing to take a configurational view of organisational knowledge, it proposes an original and meaningful way of examining the role of knowledge in the generation and sustainability of competitive advantage.

Details

Journal of Strategy and Management, vol. 2 no. 1
Type: Research Article
ISSN: 1755-425X

Keywords

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