Overview of "Reversing the Slide" by James B. Shein

Key Themes:

• Corporate Turnarounds: The book focuses on the strategies and tactics necessary for revitalizing distressed companies. It covers various stages of distress and provides guidance on selecting appropriate tactics for each stage.
• Entrepreneurial Concepts: The author emphasizes the importance of entrepreneurial thinking in corporate turnarounds, encouraging readers to adopt innovative and adaptable approaches.
• Avoiding Pitfalls: The book highlights common pitfalls in corporate turnarounds and provides advice on how to avoid them, ensuring a more successful revitalization process.
• Legal, Financial, Strategic, and Operational Steps: It outlines the necessary legal, financial, strategic, and operational steps required for a successful turnaround, providing a comprehensive framework for executives, managers, and employees.
• Effective Leadership and Governance: The author stresses the importance of effective leadership and governance in guiding the turnaround process, particularly in situations with time pressure and significant uncertainty.

Plot Summary: "Reversing the Slide" is a strategic guide designed to help executives, managers, and employees revitalize downtrodden companies. The book is drawn from James Shein's decades of experience advising, purchasing, and reviving distressed companies across various industries, geographies, and sizes. It offers step-by-step instructions for helping troubled organizations bounce back with vigor. The guide covers topics such as:

• Selecting tactics appropriate for each stage of distress
• Understanding the use of entrepreneurial concepts
• Avoiding pitfalls common to turnarounds
• Determining legal, financial, strategic, and operational steps in the process
• Applying the principle of "ready, fire, aim" in decision-making under time pressure and significant uncertainty
• Uncovering the secrets of effective leadership and governance

Critical Reception: The book has received positive reviews for its insightful advice and comprehensive approach to corporate turnarounds. It is often quoted in the Wall Street Journal, reflecting the author's authority on restructuring and downsizing. The book is considered a valuable resource for executives, managers, and employees looking to revitalize distressed companies. Here are some excerpts from reviews:

• From Barnes & Noble: "James Shein's Reversing the Slide is full of insightful advice on what works, what does not, and why it will prove invaluable to executives, managers, and employees in helping troubled companies before it’s too late."
• From Joy Tutela: "A just-in-time guide for revamping distressed companies. Drawn from the author’s decades of experience advising, purchasing, and reviving distressed companies across industries, geographies, and sizes, Reversing the Slide is designed to help executives, managers, and employees revitalize downtrodden companies."

Overall, "Reversing the Slide" is a highly regarded resource for those seeking to navigate the complexities of corporate turnarounds effectively.