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 qualitative and quantitative tools to effect solutions. The course integrates the functional disciplines of the core curriculum. Building upon a basic understanding of accounting and corporate finance, the course engages with these core restructuring concepts: cash flow and going concern projections; debt restructuring and liquidation analysis; creditor relationships, managerial and governance perspectives. Assignments are team-oriented projects culminating in a final team analysis of a turnaround situation.
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.