This is version 1.5. -------------- The ITMS is a guided system through a corporate turnaround based on over 1500 references, countless interviews and over 150 turnaround cases. It is applicable to virtually any situation and industry targeting the most common reasons why turnarounds fail while utilizing the success factors and strategies that led to successful turnarounds over the past 30 years. The ITMS is based on project management techniques and existing restructuring methods and tools, However it is not only about project management and turnarounds, it furthermore includes financial restructuring techniques, strategic & operational strategies, marketing aspects, crisis communication aspects with stakeholders (to maximize the support and minimize bad press) and internally, controlling, quality control processes, of the turnaround itself, risk management, etc., etc.Imagine you are the CEO of a troubled company or a turnaround manager. The ITMS will be a framework that is divided into different stages, in which you can easily find the situation that your company is in. Let's say you have products that don't sell well, you are in a certain competitive environment with few global players that practically own the market, and you have financial difficulties. You will find your situation in the ITMS and the ITMS will tell you proven, through our examination of more then 150 case studies, strategies out of that situation (if there is a way out). The International Turnaround Management Standard (TIMS) is a method and guided way to achieve a sustainable turnaround. The ITMS includes all possible aspects and business areas that need to be analyzed and considered when restructuring a company: Financial Strategies Strategic- & Operational Strategies HR Aspects Crisis Communication Management Project Management Techniques and Methods Change Management Controlling and Management of Risk Marketing Aspects Quality Control processes Process Improvements The standard, furthermore serves the turnaround management team as a guideline of what they need to do at what time, how to do it and who you need to provide information too and what other aspects you need to take care of. In a nutshell: The ITMS targets all the major problems why companies fail in turnarounds; insufficient support of shareholders and lenders, non-comprehensive turnarounds (with other words things where simply overseen, or not regarded as important), targeting of symptoms rather than issues, unstructured approaches to turnarounds, etc.

The role of a Turnaround Manager is to save companies from a seriously unprofitable situation. This may follow a merger, take-over, restructure or as a result of adverse market conditions or mismanagement. A first class Turnaround Manager is more than a short-term 'company doctor'; he or she redefines the company's business mission and restructures it for long-term survival. This book shows how to do this. It includes practical advice from experienced Turnaround Managers, real-life examples of best practice and an objective guide to the principles involved in this increasingly important role.

Manufacturing and process plants must be regularly closed down for planned maintenance operations. This may entail the complete shutdown and re-start of large-scale serial and batch operations and must be performed in as short a period of time as is cost-effective. This is the process of turnaround, and as the processes are often high value and the maintenance operations intensive, complex and costly, it is vital that it be planned and carried out effectively. Tom Lenahan is an acknowledged expert in this field, who has worked and consulted internationally, and his book will show the maintenance manager or project leader how to get the job done correctly. This will include ensuring that lost production value (including sourcing replacement capacity) is balanced against intensive maintenance costs, as well as numerous other factors that may not be obvious to the first-time shutdown manager. The book draws upon his many years of experience with ICI, and has been written in conjunction with Eutech Engineering Services Ltd. - Foreword by Anthony Kelly, author of Maintenance Strategy and Maintenance Organization and Systems

The role of a Turnaround Manager is to save companies from a seriously unprofitable situation. This may follow a merger, take-over, restructure or as a result of adverse market conditions or mismanagement. A first class Turnaround Manager is more than a short-term "company doctor; " he or she redefines the company's business mission and restructures it for long-term survival. This book shows how to do this. It includes practical advice from experienced Turnaround Managers, real-life examples of best practice and an objective guide to the principles involved in this increasingly important role.

How to steer your business through times of financial distress and achieve sustained profitability Corporate Turnaround Artistry is a complete guide for entrepreneurial companies in times of financial distress—presenting effective strategies and proven methods to revive and rehabilitate your business. Uncertain economic times have significantly altered the financial resources available to struggling businesses. Narrowing margins and mounting internal and external pressure has taken their toll on many companies. Fortunately, most businesses can be repaired while maintaining their existing revenue structure. Offering practical steps that go beyond simple cost-cutting and sales-building advice, this invaluable guide teaches you how to control cash, secure financial relief, and develop a comprehensive turnaround plan that your employees, customers, and creditors will support. Business leaders and entrepreneurs often fall into the trap of assuming new debt when tough times strike. Author and Certified Turnaround Practitioner Jeff Sands shows that to many struggling businesses, more money is no longer the answer to the problem. Expert advice on topics including cashflow stabilization, short and long-term profit sustainability, lean management techniques, and more, provides the framework to timely and efficient corporate turnaround. From identifying the initial cash crisis to meeting with creditors and developing a plan, this essential resource will help you: Stabilize your financial liabilities and re-structure your debt Implement effective turnaround strategies without significant changes to your corporate structure Preserve the positions of your current employees and their community Give yourself a fresh start with a lean and agile business Thousands of businesses fall into financial stress every year—oftentimes in sudden and dramatic fashion—leaving CEOs and owners asking the question “How do I save my business”? Corporate Turnaround Artistry: Fix Any Business in 100 Days provides the answer.

This book focuses on various business practices to manage ailing companies during economic depression or in the aftermath of man-made and natural disasters. The methods implemented by various Japanese enterprises, such as Japan Air Line, Tokyo Electricity Company, Nissan and Toyota, to overcome their challenges are elaborated in this book. The scope of the book covers: restructuring under government financial support; private turnaround management of huge conglomerates; reorganization of business domains; accounting for risk management, and robust supply chain management in the aftermath of disasters.