Module description

International Business Consulting (IBC)

Turnaround Management

Recommended prior knowledge

Fundierte Kenntnisse in ABWL, für die Vorlesung „Turnaround Management I" insb. Kenntnisse aus „Corporate Finance I" und „International Economic Law I".

Teaching Methods Seminar
Learning objectives / competencies

Ziel des Moduls ist der Zugewinn einer Expertise für den Consulting-Bereich des Turnaround Management, der es den Studenten erlaubt, mit hoher (Informations-)Komplexität umzugehen und Ansätze zur Sanierung eines Unternehmens zu entwickeln. Dies verlangt - als explizites Ziel des Moduls - die aktive Einbeziehung vermittelten Wissens gepaart mit der Kenntnis der Wirkungsweise optionaler Strategien auf unternehmerische Kenngrößen.

Learning Outcomes

1.   Umfassende Kenntnis  zu den Phasen und phasenbzg. Aufgaben des Turnaround Management

2.   Wissen um arbeits- u. insolvenzrechtliche Aspekte im Kontext des Turnaround Management

3.   Fähigkeit, erworbene betriebswirtschaftliche Expertise aufgaben- u. zielgerichtet einzubringen

4.   Fähigkeit, als Consultant die zuge-dachte Rolle im Turnaroundprozeß wahrzunehmen

Duration 2
SWS 4.0
Effort
Classes 45 h
Self-study / group work: 105 h
Workload 150 h
ECTS 5.0
Credits and Grades

Teil 1: Klausur (60min)
Teil 2: Projektarbeit u. Präsentation

Die Noten fließen gleichgewichtet in die Modulnote ein

Responsible Person

Prof. Dr. R. Fischer

Max. Participants 20
Recommended Semester IBC 1/IBC 2
Frequency jedes Semester
Usability

Die Inhalte des Moduls können ebenfalls für das hochschuleigene Parttime-Prg. „General Management" genutzt werden.

Lectures

International Economic Law

Type Seminar
Nr.
SWS 2.0

International Economic Law I

Type Vorlesung
Nr. IBC-07-01
SWS 2.0
Lecture Content

Principles of Economic Law and Contract Law:

  • Introduction to International Economic Law
  • Contract Law in Germany, England and the USA
  • Security Rights

Company Law:

  • Company Law in Germany, England and the USA
  • Formation and Institutions of the German Stock Corporation, the German Private Limited Corporation, the English Public Limited Company, the English Private Limited Company, and the US Public Corporation
  • Company Law in Asia, e.g. in the Peoples Republic of China and in Japan

Insolvency Law:

  • Insolvency Law in Germany, England, and the USA
  • Insolvency Proceedings and Insolvency Plan
Literature

B. Sharon Byrd, Law & Language of Contracts and Torts, Munich 1998.

Nigel Foster / Satish Sule, German Legal System and Laws, 3. Edition, New York 2002.

Francis Lyall, An Introduction to British Law, Baden-Baden 1994.

Peter Hay, Law of the United States, Munich 2002.

Hannes Schneider / Martin Heidenhain, The German Stock Corporation Act - Bilingual Edition with an Introduction to the Law, Munich 2000.

Klaus J. Müller, The GmbH, Munich 2006.

Turnaround Management I

Type Seminar
Nr. IBC-07-02
SWS 2.0
Lecture Content

With a very limited amount of time available the turnaround consultant is asked for a precise analysis of the company's and its market's situation emphasizing on the explanation why the company suffers from losses and / or cash drains based on facts and figures.
Therefore it`s essential to rapidly gather, evaluate and interpret all relevant data to fully understand and report the company's problems. This will lead to the answer of the main question:
Is company`s potential sufficient to overcome the crisis?

If the answer is positive the next step will be to create a master plan or blue print for the company's future starting from the strategic and managerial guidelines and developing the necessary means and measures to regain the state of profitability. To convince the various participants in the turn around process, particularly the bankers involved, this master plan has to include realistic forecasts of the company's financial future: profit & loss statement, balance sheet, and detailed forecast of the future cash flow plan, which is of special interest for calculating the amount of fresh money which required.

Usually, the consultant is also asked to support the implementation of the master plan and/or to control the restructuring process with regular reports to the banks.
If the company cannot survive exit strategies have to be developped: sale of the activity or even bankruptcy in its different forms.

All these steps will be discussed in detail based on real cases. Additionally it will be illustrated in which `way` the consultant has to cooperate with all participants involved e.g. banks, stake-holders, trade unions, creditors.

Literature

Harvard Business Review on Turnarounds (WD 706A) 2001.

Arpi, Bo International Turnaround Management, McMillan 1999. (WD 703).

Gilson, Stuart C., Creating Value Through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, Breakups, in John Wiley Sons, 2001.

Donaldson, Gordon, Corporate Restructuring: Managing the Change Process from Within; Harvard Business School Press, 1994.