Recognising and Dealing with Business Distress: Building Resilient Companies

Businesses fail for a variety of reasons, and the rate of failure has accelerated over the past twenty years. This book examines potential causes of business distress and key resilience drivers, including business purpose, board effectiveness, strategic planning, financial stewardship, risk management, and director duties in times of business distress. It provides a practical benchmarking framework in the form of a toolkit with detailed evidence that companies can use to assess potential business distress and build a resilient company.

Format: Paperback / softback
Length: 215 pages
Publication date: 07 November 2022
Publisher: De Gruyter

Businesses face a multitude of challenges, ranging from sudden and spectacular failures to gradual declines over time. While some companies can turnaround or delay their decline, others are left with no choice but to close their doors. Over the past two decades, the rate of business failure has accelerated, impacting both small and large, well-known public companies. Recognizing the potential causes of business distress has become an essential agenda item, and developing resilience has become a top priority.

The authors, drawing on their practical experience, academic research, and a comprehensive analysis of recent high-profile cases, delve into the potential causes of business distress and the key factors that contribute to resilience. This insightful review is presented in separate chapters covering various aspects of business resilience, including business purpose, board effectiveness, strategic planning, financial management, risk management, turnaround strategies, and director duties during times of business distress.

The book provides a practical benchmarking framework in the form of a toolkit, accompanied by detailed evidence and performance indicators that companies can use to assess their potential business distress and build resilience. By implementing these strategies, businesses can position themselves for success and navigate the ever-changing business landscape with greater agility and resilience.

In conclusion, this book offers valuable insights and practical tools for businesses seeking to enhance their resilience and overcome the challenges of business distress. By understanding the potential causes of failure and implementing effective strategies, companies can position themselves for long-term success and contribute to the growth and stability of the economy.

Weight: 382g
Dimension: 240 x 170 x 28 (mm)
ISBN-13: 9783110689457