Correcting for the future
A framework for making decisions can help turn around a faltering business
By William W. Lawrence
The crucial importance of managing business turnaround is underscored by the recent global financial crisis, regarded by some economists as the worst since the Great Depression of the 1930s. Liquidity shortfalls in banking systems around the world triggered substantial contractions in credit and international trade. For many companies, this translated to weak product demand and a cash crisis. During 2010, 29 of the 41 firms listed on the Jamaica Stock Exchange reported profit declines or losses relative to the prior year.
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