Turnaround and Sustainability in Economic Crisis: The Case of NEXT PLC
Purpose- against a background of continued weak economic conditions and with many firms experiencing declining financial performance, this paper presents a synthesis of the business turnaround literature and combines with analysis case –NEXT plc. It purposes to discus the turnaround strategies can...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English English English |
| Published: |
2013
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| Online Access: | https://eprints.nottingham.ac.uk/26902/ |
| Summary: | Purpose- against a background of continued weak economic conditions and with many firms experiencing declining financial performance, this paper presents a synthesis of the business turnaround literature and combines with analysis case –NEXT plc. It purposes to discus the turnaround strategies can keep the declining firm sustainability recovery, during the economic cycle.
Design/methodology/approach- the turnaround strategy for sustainability recovery are examined by a case study of NEXT PLC which largest clothing retailer in UK. The outcome combines with previous literature to analysis.
Findings- the results indicate that financial control, efficiency operation, focus on core activities and valid top management team can contribute the company to sustainability turnaround. And the financial restructuring can accelerate the turnaround to success.
Originality/value- this paper provide the situation that the declining firm can implement the efficiency turnaround strategies to reach sustainability turnaround in the period of economic cycle.
Keywords: turnaround, recovery strategies
Paper type- literature review |
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