Research on turnaround management for a Western environment has over the past decades developed meaningful insights into the turnaround process and turnaround strategy content. Many of the Western findings were assumed to be generalizable across business settings and environments. The experiences during the Asian Crisis, however, changed the understanding of the appropriateness of Western turnaround recipes for South-East Asia: In the pre-crisis environment, many Western investors held stakes in South-East Asian companies.
Research on turnaround management for a Western environment has over the past decades developed meaningful insights into the turnaround process and turnaround strategy content. Many of the Western findings were assumed to be generalizable across business settings and environments. The experiences during the Asian Crisis, however, changed the understanding of the appropriateness of Western turnaround recipes for South-East Asia: In the pre-crisis environment, many Western investors held stakes in South-East Asian companies.
