GP Subscription Publications Corporate Governance and the Timeliness of Change Reorientation in 100 American Firms By Hugh Sherman and Rajeswararao Chaganti Quorum Books . Westport, Conn. 1998 . 176 pages LC 98-4930. They successfully explain why some corporations were able to iniate restructuring quickly while others took years to respond. Business students and praticing managers have much to learn from this study because restructuring is a complex process and the current literature that deals with major corporate change is not covered in most textbooks.
Upper division undergraduate through professional.
Sherman and Chaganti provide answers to these and other questions, in the first book yet to focus entirely on the determinants of time in corporate reorientations. In order for a firm to develop or sustain a competitive advantage, it must not only adapt correctly to environmental change, but also adapt quickly. The results of the research indicate that even in relatively large organizations, reorientations are not rare and occur routinely. Further, deterioration of a firm's financial condition tends to hasten its initiation of reorientation. However, the determinants of time taken to initiate reorientation differ in firms with relatively high prior performance and firms with relatively low prior performance.