Recognising and Dealing with Business Distress: Building Resilient Companies

Stephen Parkinson; Marjan Marandi Parkinson

Published by De Gruyter 2022

Recognising and Dealing with Business Distress

Building Resilient Companies

Stephen Parkinson and Marjan Marandi Parkinson

https://doi.org/10.1515/9783110689495

Overview
Contents

About this book

Businesses fail – some spectacularly and suddenly, others more gradually over time. In some companies business decline can be turned around or at least delayed. In many others there is no option other than business closure. Over the past twenty years the rate of business failure has accelerated. Insolvency rates are high not just for small businesses but also for large well known public companies. Identifying possible causes of business distress is now recognised as an important agenda item. Creating the capacity to bounce back from such distress – business resilience – has become a priority.

The authors blend their own practical experience, academic research and a systematic analysis of recent high profile cases including Flybe Group Plc, Arcadia Group Ltd, Carillion Plc, NMC Health Plc and Thomas Cook Group Plc in a review of potential causes of business distress and key resilience drivers. This is presented in detail in separate chapters covering business purpose, board effectiveness, the quality of strategic planning, financial stewardship, risk management, business turnaround strategies and director duties in times of business distress. The book sets out a practical benchmarking framework in the form of a toolkit with a series of detailed evidences – performance indicators – that companies can use to assess potential business distress and build a resilient company.

Benchmarking framework that can be used to analyse business resilience in a practical way
Multi-disciplinary approach using research evidence and examples from business practice
Analysis of 5 recent high-profile cases of business failure

Author information

Stephen Parkinson was most recently Dean of the Leeds Business School, Leeds Beckett University and Professor of Strategic Management, specialising in market driven change and performance improvement.

Marjan Marandi Parkinson is a Lecturer in Law at Leeds Trinity University, with research interests in company law and corporate governance in financial distress and insolvency.

Reviews

‘Many businesses get contingency planning, but sail right past the appropriate decision points and end up with a series of very difficult choices – often when it is too late to make any difference. This book puts together a genuine framework for lead indicator monitoring of health, strategic direction, and the effectiveness of strategy execution that is really powerful and should be of interest to anyone involved in building and sustaining a long-term competitive business.’

Kenny McKay, Managing Director, Interpath Advisory

Topics

Frontmatter Publicly Available Download PDF	I
Contents Publicly Available Download PDF	V
Preface Publicly Available Download PDF	IX
Acknowledgements Publicly Available Download PDF	XIII
1 Building resilient companies Requires Authentication Unlicensed Licensed Download PDF	1
2 Purpose and the effective board Requires Authentication Unlicensed Licensed Download PDF	15
Case study: Flybe Group plc Requires Authentication Unlicensed Licensed Download PDF	32
3 Resilient planning Requires Authentication Unlicensed Licensed Download PDF	41
Case study: Arcadia Group Ltd Requires Authentication Unlicensed Licensed Download PDF	60
4 Financial stewardship Requires Authentication Unlicensed Licensed Download PDF	72
Case study: Carillion plc Requires Authentication Unlicensed Licensed Download PDF	89
5 Risk management and KPIs Requires Authentication Unlicensed Licensed Download PDF	103
Case study: NMC Health Plc Requires Authentication Unlicensed Licensed Download PDF	120
6 Business turnaround Requires Authentication Unlicensed Licensed Download PDF	132
Case study: Thomas Cook Group plc Requires Authentication Unlicensed Licensed Download PDF	150
7 Directors’ duties Requires Authentication Unlicensed Licensed Download PDF	161
8 Benchmarking strategic governance Requires Authentication Unlicensed Licensed Download PDF	178
References Requires Authentication Unlicensed Licensed Download PDF	187
List of tables Requires Authentication Unlicensed Licensed Download PDF	195
List of figures Requires Authentication Unlicensed Licensed Download PDF	197
Index Requires Authentication Unlicensed Licensed Download PDF	199

(Deutsch)

Language: English
Publisher: De Gruyter
Audience: Practitioners and external advisors; Masters students in business and law taking governance, insolvency and rescue modules.
Pages
- Front matter: 11
- Main content: 204
Illustrations
- Illustrations: 2
- Tables: 15
Keywords: Business Resilience; Benchmarking performance; Strategic Governance; Business Turnaround

eBook

Published: November 7, 2022
ISBN: 9783110689495

Paperback

Published: November 7, 2022
ISBN: 9783110689457