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Many strongly believed that, in large part, the success of the U.S. capital markets is due to the quality of the financial statements and the disclosure standards used by U.S. public companies (Smith, 2012). However, an “audit expectation gap” exists … Continue reading
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Strategic Management to Avoid Distress The negative impact of the 2008 financial market decline and the 2008 and 2009 recession pushed many entrepreneurial controlled companies’ into the “zone of insolvency.” Although no clear test exists to establish when any company … Continue reading
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Fresh-Start Accounting Not since the Great Depression has the number of business bankruptcies been so prevalent. Bankruptcy is a dramatic experience. It is one thing reading about the recent large bankruptcies of AMR Corp., parent of American Airlines, Kodak, and … Continue reading
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The great recession and the recent economic turmoil did its damage on businesses. So to be prepared, how should a manager be prepared for the next economic downturn? Here are ten fundamental priorities that should be performed: Take a closer … Continue reading
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According to former Sears, Roebuck and Co. CEO and U.S. general, Robert E. Wood, “Business is like a war in one respect, if its grand strategy is correct, any number if tactical errors can be made and yet the enterprise … Continue reading
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Some would say that business competitive strategies are analogous to warfare or sports. This is similar to the way business turnarounds and restructurings are often viewed from the standpoint of a medical triage to cure a sick patient. Within the … Continue reading
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The Entrepreneurial-Based Business The competitive dominance of entrepreneurial driven companies have historically forged the path of economic growth. Now at the time when such dominance is needed with a vengeance for prosperity and employment, such owners are working hard to … Continue reading
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Many papers and books have been written to study the origin of business distresses, its causes, consequences, and eventually, the best way to manage these organizations to avoid failure. The best way to learn how to manage a business turnaround … Continue reading
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Business failure is rather common, so the challenge of strategic management is to produce above-average returns and to achieve strategic competitiveness in order to avoid becoming a statistic. Planning is critical. Planning begins with studying the past, then designing the … Continue reading
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The kernel of strategy, the central core, consists of three elements: a diagnosis, a guiding policy, and a set of coherent actions. Continue reading
