Information priorities in turnaround situations

A study, carried out among members of the Turnaround Management Association, describes the information needs of turnaround managers as they go about rescuing firms from financial crises. Working with limited resources, within a very short timeframe, the managers prioritize their information needs. In so doing, they confirm 3 hypotheses. First, turnaround managers are more likely to source information from the company's management information system than from the company's customers. Second, they tend to opt for cost cutting rather than increasing revenues. Finally, they are more likely to adopt a current time horizon in analyzing the information.