Trends and Patterns in Turnaround Strategies

The paper aims to examine the publications on turnaround strategies and identify scientific gaps. Hence, bibliographic couplings of countries, institutions, journals, publications, authors, and co-occurrences of the author keywords were analyzed. Bibliographic methods were employed to examine and visualize the characteristics of the publications with the aid of VOSViewer software. Using 174 articles from the Scopus database, the results revealed that corporate distress, turnaround, organizational decline, turnaround strategies, corporate strategy, financial distress, retrenchment, turnaround strategy, and turnarounds were among the most studied key concepts in this area, The “Journal of Strategy and Management” and “European Management Journal” were the top journals. United States, United Kingdom, and India were the most influential countries. The Fort Hays University and McMurry University were top research institutions. Notably, Huang, Y., Reddy, K.S., and Xie, E. were the most influential authors in this research area. These results will help academicians and practitioners.

Examining the association between stock return and seasonally adjusted trade in India

This paper aims to examine the association between Indian stock market return and seasonally adjusted trade for Indian Banking sector shares. The objective of the study is to measure the association between stock return and seasonally adjusted trade in the Indian stock market and recommend strategies. Due to the Covid 19 outbreak banking sector was highly affected, the Government of India also announced a moratorium on all categories of loans, banking business majorly depending on the deposit and loan creation, so the Government decision threaten the banking sector. Many private sector banks terminated temporary staff because of cut cost policies. We divided the banking sector into three segments. Namely, Public, Private and Small Finance Banks. Utilizing daily data from February 2020 to July 2020, consisting of 2196 in numbers, we ran a panel Vector Autoregression model to analyze the association. It was found that the return of stocks is influencing the volume of trade during this period. Also, while measuring the short-run causality, it is found that the return of banking stocks specifically granger causes the volume of trade. The suggestions of the study lie in providing importance to framing policies on improving the financial health of the economy through different fiscal policies. Strategic policies are required to face post-Covid situations. The turnaround strategies to combat the effects of the pandemic are characterized by the availability of the sustainable resources of the particular sector in consideration.

Thriving on adversity: entrepreneurial thinking in times of crisis

Purpose The paper provides evidence-based managerial advice for preparing the organizations to find successful pathways through crises by priming the managerial decision-making towards either entrepreneurial thinking or resource conservation, and hence cascading the inventive or rigid state of mind through all management levels. Design/methodology/approach The general review is based on summarizing the peer-reviewed academic studies of organizational decision-making and acting in crisis situations, illustrated using the turnaround cases of Corticeira Amorim (reinventing itself when faced with emerging technological threats) and Kiddiegarten School (adjusting to the pandemic shock of social/human nature) Findings This study reveals that a set of dimensions in the crisis situation’s cognitive framing determines the firm’s response to adversity, freezing it in a rigid state or unfreezing it to stimulate an organization-wide entrepreneurial search for turnaround strategies. If managers sense having a lack of time to deal with adversity, or a lack of predictability, they become paralyzed with threat-rigidity mechanisms, stubbornly pursuing the established methods of doing business, which often were the cause of crisis in the first place. Hence, in situations requiring an immediate response, the dual threats of urgency and unpredictability become cognitive blinders, preventing organizations from pursuing new opportunities, exposing firms to the risk of being too slow, eroding their competitive advantage and, ultimately, going out of business. Originality/value Integrating the insights of three decades prior research of the topic of managerial decision making in crisis situations, this study proposes the novel leadership framework allowing to stimulate entrepreneurial behavior in adverse contexts.

RE-ENGINEERING STRATEGY AND PERFORMANCE OF LARGE MANUFACTURING FIRMS IN KENYA

Purpose: Most of the large manufacturing firms in Kenya have been experiencing declining performance in terms of revenue, sales and the profit margins for more than a decade. This has seen some of the large manufacturing firms in the country consider strategies such as relocating or restructuring their operations, opting to serve the local market through importing from low-cost manufacturing areas instead of adopting turnaround strategies. This therefore prompted a question on whether turnaround strategies such as reengineering strategy are effective for the manufacturing firms; hence the motivation of this study. Methodology: This study was informed by theory of constraints. A descriptive research design was adopted while 708 large manufacturing firms in Kenya registered under the Kenya Association of Manufacturers were targeted. The sample size for the study was 249 firms selected randomly from all the 14 sectors of the manufacturing industry in Kenya. The data collection instrument was a questionnaire, while mean, frequencies and percentages were used to describe the data. Correlation and regression analysis were done to show direction, magnitude and significance of the association between the variables. Findings: The findings revealed that re-engineering strategy had significant and positive influence on the performance of large manufacturing firms in Kenya. The findings further revealed that organizational culture had significant moderating effect on the relationship between reengineering strategy and performance of large manufacturing companies. The study concluded that reengineering strategy as one of the turnaround strategies positively influenced the performance of large manufacturing companies. Unique Contribution to Theory, Practice and Policy: It is therefore recommended that the management of large manufacturing firms uphold reengineering strategy in order to enhance performance.

The Effects of Availability of Resources on the Implementation of Turnaround Strategy at New Kenya Co-operative Creameries Limited

This study investigates the effect of resources on the implementation of turnaround strategy at New Kenya Co-operative Creameries Ltd (NKCC). This study was guided by the stage and action theory with more emphasizes being given to stage theory. The study adopted a case study research strategy. Data was collected using questionnaires from 43 managers and management employees of New KCC selected from three branches (Nairobi, Limuru and Thika). The data was analysed quantitatively and the findings presented in frequency distribution tables and bar graphs. From the findings, the researcher found out that resources affected the implementation of turnaround strategies. The most important factors related to resources were inadequate training and instruction given to lower level employees; ineffective coordination of implementation activities; low competence, coordination, and commitment among human resources; inadequate leadership and direction provided by departmental manager; delays due to additional costs and instabilities during the process of change and; lack of enough raw material (resources). Interestingly, this study found out that lack of physical resources may not translate to effective implementation of turnaround strategies. There may be sufficient machinery and human resources in the various departments, however, there has to be competent managers to ensure efficient utilize of such resources. In light, it was deduced that there is need to align the physical resources that an organization has with competent human resources so as to effectively realize effective implementation of turnaround strategies. This study recommends that the most important resources to be acquired are competent personnel. This is particularly so since, the various aspects of the implementation of turnaround strategies need such personnel. As such, they should be well trained and suitable to carry out the various tasks needed to ensure that the strategies under their docket are well implemented. NKCC should also ensure that there is modern equipment and funds to facilitate the change management. Budgets should be reviewed regularly so as to ensure presence of adequate resources to sustain the implementation of turnaround strategies.

Using method analysis to improve productivity: case of a tap manufacturer

PurposeThe purpose of this article is to demonstrate that basic interventions using method study investigations can improve productivity in the workplace. Continuous improvement of operational processes allows an organisation to develop its capabilities to keep it ahead of its competitors.Design/methodology/approachA mixed-methods approach was used as the research design of the study. It involved an intensive method study investigation at a tap manufacturer to improve productivity. Structured searches using keywords were carried to identify important contributors to research articles in the areas of work-study, method study and productivity.FindingsThe empirical results indicate the essential need for method study investigations to improve productivity in organisations. It can be concluded that the systematic implementation of this methodology will ensure that productivity is enhanced in organisations.Research limitations/implicationsThe research is restricted to a single manufacturing organisation. Literature on method study was found to be limited.Practical implicationsThis research is intended to support organisations by providing a methodology to address areas of inefficiency and also to assist with subsequent turnaround strategies to ensure organisational effectiveness and sustainability.Originality/valueThe essential contribution that this article makes is that it provides organisations with a universally accepted, user-friendly technique to improve organisational effectiveness and productivity with minimal capital outlay.