This course provides students with a perspective on identifying and remedying turnaround business situations, that is, established businesses experiencing operational, financial and managerial difficulties. Students learn, from the standpoint of a general manager, how to distinguish between "troubled" and "crisis" companies and how to use both qualitative and quantitative tools to effect solutions. The course integrates the functional disciplines of the core curriculum; a basic understanding of accounting and corporate finance is necessary. Cash flow and going concern projections, debt restructuring and liquidation analysis, credit relationships and managerial perspectives are central components of classwork. Assignments are group-oriented projects culminating in a final group analysis of a turnaround candidate.
Henry R. Kravis Professor of Business Leadership
Professor Harrigan, who teaches courses in strategic management and turnaround management, is a specialist in corporate strategy, industry and competitor analysis, diversification strategy, joint ventures, mergers and acquisitions, turnarounds, industry restructurings and competitive problems of mature- and declining-demand businesses. She has served on the boards of three publicly traded firms and is the author of several prize-winning books on strategy.