Includes bibliographical references and index.

Part One. The Reason for Corporate Decline -- Part Two. The Basic of Corporate Turnaround Management -- Part Three. Leadership in Turnaround Situations -- Part Four. Management Strategies and Practices in a Turnaround.

Everybody thinks about the upside potential of business, but what about troubled firms? Until now, nothing definitive has been written about the art of turning around losing operations. This arcane skill has been viewed as a sort of "black magic," practiced by a few highly talented (and richly rewarded) practitioners. These action-oriented survival specialists lack the time or inclination to write about their field. Conversely, academics have no feel for the real nuts-and-bolts, crisis-oriented leadership skills necessary to turn a troubled company around.