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turnaround management? corporate renewal? please help

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Manager
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Joined: 03 Aug 2010
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Schools: Kellogg Class of 2013
WE 1: US Military
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turnaround management? corporate renewal? please help [#permalink] New post 28 Nov 2010, 14:36
Hey all,

I have been researching as much as I can about leading turnaround management (i.e. distressed firms). I am assuming it involves leading an interim management team to save distressed companies, which exactly what I'd like. However, I just separated from the military and I simply dont have any base of knowledge about it, despite having googled in into exhaustion. Hopefully the broader perspective of the GC community can fill in the gaps I have......

Those gaps are...

1. Is turnaround management even a distinct field or is a part of another?
2. Is it possible to get recruited out of b-school this way?
3. What are the major firms that do this sort of thing?
4. Are the positions in corporations, or are they more employed by PE firms that are looking to improve and integrate a recent purchase?


Thanks so much
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Re: turnaround management? corporate renewal? please help [#permalink] New post 29 Nov 2010, 13:46
turnaround specialists are usually ppl who have either extensive experience in a similar company/function (i.e. ex-CEO of a competitor looking for work) or industry focused (i.e. partner at Mckinsey). they're folks with lots of experience to lead a distressed company out of the hole and into profitability.

if this field interests you, i'd say your best best is to make your way into consulting. companies don't hire consultants unless there's a problem of some kind.
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Re: turnaround management? corporate renewal? please help [#permalink] New post 02 Dec 2010, 12:06
Thanks kb, that was the kind of perspective I was looking for.

Much appreciated
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Re: turnaround management? corporate renewal? please help [#permalink] New post 05 Dec 2010, 07:33
A lot of the consulting firms also have turnaround groups. I know for sure Bain does and would assume most others do as well. I'm not sure if you can specialize and work 100% in the turnaround group, but something to consider....
Re: turnaround management? corporate renewal? please help   [#permalink] 05 Dec 2010, 07:33
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