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Turnaround Management & Corporate Renewal: A South African Perspective

Overview of Turnaround Management & Corporate Renewal: A South African Perspective

Turnaround Management and Corporate Renewal

A turnaround is to produce a noticeable and endurable improvement in performance, to turnaround the trend of results from down to up, from not good enough to clearly better, from underachieving to acceptable, from losing to winning.
– Stanley J. Goodman (1982)

This broad definition can apply to turnarounds in almost anything – a life, an endeavour, a company, a municipality, a non-profit organisation, a sporting team, a school, a university or technicon, a government, a country or even a continent.  Turnaround Management and Corporate Renewal deals mainly with the turnaround of business organisations.  The strategic, financial, legal, human resources, marketing and operations, stakeholder management, political, and internal and external aspects of turnarounds are evaluated in depth by leaders in their fields.

Definitions, stages of a turnaround, rapid appraisal and detailed analysis, recovery plan development and implementation as well as the new Business Rescue legislation are covered.  Change management, small business turnarounds, recruiting for a turnaround, value management and value engineering, early warning signals and managing stress are all included in the chapters.  Tools and techniques that can be used to deal with many different turnaround challenges are explained in considerable detail, while the case studies are written by people who have led successful South African turnarounds.

Written by thirty-five noted management and turnaround practitioners, consultants and academics in South Africa, the book is partially based on the highly successful Wits Business School (WBS) programme How to Manage a Turnaround and Corporate Renewal (MATCR).  WBS was one of the first business schools in the world to introduce an executive education programme in turnaround management when Neil Harvey and Frans van Heerden convened the first MATCR course in 2002.

Many of the discussed concepts and principles can be applied to various non-business turnaround aspects of life.  The book is therefore aimed not only at management practitioners, consultants, academics and students, but also at staff experts, engineers, accountants and lawyers in the private sector, municipality and trade union leaders, government, parastatals, non-profit organisations, sporting clubs and educational institutions.

Neil Harvey - Editor

Neil Harvey

Neil Harvey led fourteen successful turnarounds across a variety of industries in Africa, Europe and the United States from 1968 to 1999. He has since been a professor at Rhodes University and adjunct professor at Grand Valley State University in the USA.

Mtuli Ncube, Director and Head of School, Graduate School of Business Administration at Wits University

"There has never been a greater need for turnaround management than now".

Table of Contents of Turnaround Management & Corporate Renewal: A South African Perspective

Part 1 Introduction

1 Introduction - Neil Harvey

2 How turnarounds differ from normal management - Neil Harvey

3 Managing a turnaround overview - Neil Harvey

4 The Turnaround Management Association (TMA-SA) - Jan van der Walt

5 Turnaround situations - Jan van der Walt

Part 2 Fundamentals

6 Turnaround strategy - Peter Flack

7 Choosing a leadership style during a turnaround - Frans van Heerden

8 Legal aspects of turnarounds - David Gewer

9 The new business rescue procedure - Eric Levenstein

10 Financial aspects of a turnaround - John Evans

11 Change management - Dennis Applebee

12 Human resources leadership in a turnaround - Ntombi Langa-Royds

13 Strategic marketing challenges in a turnaround - Mark Peters

15 Managing stakeholders - Philip Reynolds

Part 3 Perspectives

16 Corporation or business turnaround, demystified - Dana Cooper

17 Legal statutory frameworks for the facilitation of turnarounds - David Burdette

18 A turnaround practitioner's view on new business rescue legislation - Jan van der Walt

19 Organisational politics as an element of the turnaround process - Frans van Heerden

20 The valuation of a business in distress or decline - Neil Harvey

21 A union perspective - Petrus Nxumalo

22 A banker's perspective - Robin Taggart

23 Small business turnarounds - Colin Batchelor

24 The role of the internet in the turnaround strategy of small business - Roger Elliot

25 Critical variables of venture turnarounds: a liabilities approach - Marius Pretorius and Gert Holtzhauzen

Part 4 Implementation

26 Turnaround tools and techniques - Neil Harvey

27 Value management and value engineering - Kurt Huber

28 One sucker required: corporate governance issues in business restructuring and turnaround management - Karl Gribnitz

29 Recruiting for a turnaround - Johann Redelinghuys

30 Converting debt to equity - John Evans

31 Early warning signals - Neil Harvey and Albertina Jere

32 Stress: who is in control? - David Kirby

Part 5 Case studies

33 Amalgamated Electrical Industries Corporation - Herman Singh

34 Amquip - Neil Harvey

35 Barloworld - Ivor Sander

36 Bevco - Robin Taggart

37 BKS - Olaus van Zyl

38 Food Corporation - Neil Harvey

39 Konkolo Copper Mine - Albertina Jere and Malenga Jere

40 Karoo Farming - Dick Stringer

41 NEPAD - Wiseman Nkuhlu

42 Professional Management Review (PMR) - Barbara Wood

43 The South African Post Office - Marietjie Lancaster

44 XYZ Company - Garrath Rosslee and Vanessa Cowan

45 Zambia Breweries - Neil Harvey

Part 6 Conclusion

46 Review - Neil Harvey

47 Conclusions - Neil Harvey

48 Recommendations - Neil Harvey

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