DONALDSON G., Corporate restructuring: managing the change process from within. Harvard Business Press, 1994

Corporate Restructuring




PART ONE: The nature and origins of structural change
Chapter 1 – Introduction
1.1. A decade of confrontation
1.2. Financial Structure as an Instrument of change
1.3. Some questions about restructuring in the 1980s
1.4. The nature of the evidence
1.5. The organization of the book[/one_half_last]

Chapter 2 – The structure of the 1970s: the origins of Investor discontent
2.1. Chapter Overview
2.2. The 1970s
2.3. Leadership in the 1970s: Motivation and Rationale
2.4. Career Jobholder/Transient Stockholder
2.5. The Social Environment
2.6. The Voice of the Capital Markets
2.7. A case in point: Armco Steel
2.8. The Legacy of the 1970s
2.9. A time of Reckoning

Chapter 3- The imperative change
3.1. Chapter Overview
3.2. Clear and Present danger
3.3. Preconditions for voluntary restructuring
3.4. Leadership in Place
3.5. The Triggers of change
3.6. The Voluntary Imperative

Chapter 4 – Changing the structure of corporate investment
4.1. Chapter Overview
4.2. Restricting the authority to Reinvest
4.3. Limiting Investment choice
4.4. Contracting Discretionary reserves
4.5. Tightening The terms of funding
4.6. Enhancing the productivity of Dollars invested

Chapter 5 – Changing the structure of the revenue stream
5.1. Chapter Overview
5.2. Armco’s survival plan
5.3. The Corporate Superstructure
5.4. The Structure of Constituency Claims
5.5. The Ultimate Payoff

PART TWO: The process of structural change

Chapter 6 – Alertness to change: General Mills, Inc.
6.1. Introducion to Part II
6.2. Chapter Overview
6.3. A history of voluntary restructuring: Prologue
6.4. The Origins of “The All-Weather Growth Company”
6.5. Consolidating the gains, assessing the losses
6.6. New Leadership, New environment
6.7. The implementation of voluntary restructuring
6.8. Corporate transformation and market response

Chapter 7 – Commitment to change: Burlington Northern Inc.
7.1. Chapter Overview
7.2. Setting the stage
7.3. Developing Natural Resources
7.4. Working on the Railroad
7.5. Options considered
7.6. The Crowning blow
7.7. The End of an Era
7.8. The Bottom Line
7.9. Postscript

Chapter 8 – Stimulus to change: CPC International, Inc.
8.1. Chapter Overview
8.2. The Origins of the pre 1986 Structure
8.3. CPC under McKee
8.4. Two Decades of structuring, a Year of restructuring
8.5. The Results of restructuring
8.6. Two Decades of performance
8.7. CPC Restrucuring: voluntary or involuntary?

PART THREE: The management of structural change

Chapter 9 – The record of the 1980s
9.1. Chapter Overview
9.2. A historical perspective
9.3. The consequences of the 1980s restructuring
9.4. Winners and losers
9.5. Resistance to change/windows of opportunity
9.6. The efficiency of the voluntary process
9.7. Unfinished business

Chapter 10 – Issues for the 1990s
10.1. Chapter Overview
10.2. The Forces Driving Investment
10.3. The Propensity of Overcapitalize
10.4. The Competition for the Corporate Value-Added
10.5. Cycles of restructuring
10.6. The Future of restructuring – voluntary or involuntary
10.7. The role of board oversight

Chapter 11 – Doing it better next time
11.1. Chapter Overview
11.2. Evolutionary reform
11.3. Working within the System
11.4. The Boundaries of Intervention
11.5. The Elements of a responsive Governance Process
11.6. Self-Renewal and the need for governance reform