Turnaround Model Research Articles

Mechanism Analysis of the Impact of COVID-19 on the Whole Process of Aircraft Turnaround Operations

Efficient aircraft turnaround operations at airports are vital to ensure overall air traffic network performance. After the outbreak of COVID-19, the traditional aircraft ground handling process has changed significantly due to new requirements put forward by the pandemic prevention and control policy. To better understand how COVID-19 has affected ground handling operations, a discrete-event simulation model of turnaround is established to analyze the change in the whole turnaround process before and after the pandemic. The critical path of turnaround operations was used to identify the significantly affected subprocesses to which airports should pay attention. For a case study on the two busiest airports in China, the aircraft turnaround time increased by about 18% after COVID-19. Cabin cleaning, catering, and passenger embarking were the main processes in causing this increase. By evaluating the impact mechanism of COVID-19 on turnaround operations, the study sheds light on strategic, tactical, and operational approaches for relevant authorities.

Combining Restorative Practices with Diplomas Now: Impacts on Practices, Problems, Suspensions, and Chronic Absenteeism

This study tests the impact of adding Restorative Practices within secondary schools implementing the Diplomas Now turnaround model in 8 large U.S. urban districts on: (a) the severity of disciplinary problems in these schools, (b) the probability that students would be suspended three days or more during the school year, and (c) the chronic absenteeism rate. We conducted a school-level randomized control trial in 33 schools—17 treatment and 16 control—within 12 randomization blocks. The combined intervention was implemented in the treatment schools during the 2014–2015 and 2015–2016 school years. The results from the final year on the pre-specified primary outcomes indicate that the intervention significantly reduced the severity of discipline problems in treatment schools (ES = −0.13) and the probability that students would be suspended 3 or more days (OR = 0.66); reductions in chronic absenteeism were only marginally significant.

Optimizing integrated aircraft assignment and turnaround handling

Airlines face many different planning processes until the day of operation. The assignment of aircraft to flights is of central importance and is determined by the optimization of the two planning problems Fleet Assignment and Tail Assignment. The competitiveness of the derived flight sequences strongly depends on the Turnaround Handling, which coordinates the processes on the ground between two flights. All of these planning problems have in common that they often need to be reoptimized on the day of execution due to unplanned events. In many cases, this is still done manually with the expertise of airline operators in the airline operations center. In order to automate this process and to find the best possible reoptimization solution, the medium-term aircraft assignments and the short-term plannable turnaround processes should be optimized in a combined manner. For this purpose we provide a new mixed integer program, which considers Fleet Assignment, Tail Assignment and Turnaround Handling. Due to the size of the model, it cannot be solved efficiently as a complete model using available solvers. Hence, we develop a new decomposition algorithm that alternately solves the combined assignment problems and the turnaround model, and projects the turnaround costs into the aircraft assignment’s objective function. In a computational study with realistic airline data, it is shown that for many problem instances this method yields feasible and optimal solutions much faster than comparable benchmark algorithms.

The Efficacy and Implementation of Michigan’s Partnership Model of School and District Turnaround: Mixed-Methods Evidence From the First 2 Years of Reform Implementation

The recent Every Student Succeeds Act (ESSA) requires states to identify and turn around their lowest performing schools, but it breaks somewhat from prior policies by granting states significant autonomy over how they identify and turn around these schools. This mixed-methods study, which draws on administrative, qualitative, and survey data, examines the effectiveness of Michigan’s approach to school turnaround under ESSA. We find that students in turnaround schools experienced significant achievement gains in math and to a lesser extent in English language arts (ELA), with effects concentrated among the lowest achieving students. Analyses of qualitative and survey data suggest that these outcomes were influenced by state-level supports, strategic planning, the threat of accountability for continued low performance, and improved leadership quality in turnaround schools.

Turnaround of a Multi-Unit Indian Hospital: A Study on Its Interventions

For a long time, organizational turnaround was a subject of interest; literature on the financial turnaround of hospitals that faced decline after a major disaster like death due to fire is scarce. An Indian hospital group incurred losses for years after death due to a fire in one of its units and earned an operational surplus for the last few years. This case study explores the strategies for its financial turnaround; hospital documents and interviews with managers provided data for it. The purpose of the study is to investigate the interventions taken by the organization for its financial turnaround. The theoretical framework of the study relied on the turnaround model of Maheshwari (2000), Khandwalla (2001), Chowdhury (2002), Jacobs et al. (2013), and Sylkin et al. (2019). The pragmatism theories advocated by Kahneman and Klein (2009), Ansell and Boin (2019), and Boin and Lodge (2021) were also relied upon.This study contributes to the organizational change literature by highlighting that though the theories of turnaround serve as a foundation, managerial intuition and continuous evaluation are strong driving forces for a financial turnaround.

Yes bank: a case of quick turnaround

Learning outcomes The learning outcomes of this paper is as follows: to understand and analyze the turnaround model of Pearce and Robbins (1993); to familiarize with parameters and actions in the Prompt Corrective Action (PCA) framework of Reserve Bank of India (RBI); to comprehend the probable situation warranting turnaround; to identify the key ratios which signal the financial health of a bank; and to understand the applicability of the turnaround model in bank’s revival. Case overview/synopsis The case explores various challenges faced by Mr Prashant Kumar during the turnaround process of Yes bank. The youngest bank started its operation in 2004, and in the first six years of operations, Yes bank registered a compound annual growth rate of 100% on the balance sheet, becoming the fourth-largest private sector bank in the country. However, the irony is that this shine and glitter was a short-lived phenomenon and after the regulatory inspection of 2016, Yes bank collapsed like a house of cards. This case has incorporated the three major phases of Yes bank i.e. the rise, the fall and the revival. The turnaround process led by Mr Kumar was explained using the turnaround model given by Pearce and Robbins (1993) and the PCA framework of the RBI. The conditions which warranted the need for the turnaround in Yes bank and the factors responsible for the same are discussed. The multiple challenges faced by Mr Kumar and the strategic responses adopted by him were incorporated in great detail. What were the outcomes of those strategic choices? Should he continue with similar approaches? Was he successful in stabilizing the bank which was broken from the core? What next if stability is achieved? How Mr Kumar should lift Yes bank to the recovery zone? And most importantly, will Mr Kumar be able to change the poor public image of Yes bank? The reflections of all the above questions are narrated with the actions of Mr Kumar. Complexity academic level The case is intended to be taught in the class of strategic management for postgraduate-, master- or executive-level participants of business administration. As the case is focused on a banking organization, it also can be taught in banking class. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 1: Accounting and Finance.

Inside school turnaround: What drives success?

This study proposes an empirically grounded theory of how school reform implementation relates to effectiveness, useful for developing and studying many approaches to school reform both in the U.S. and abroad, and also for assessing how policymakers and implementers might leverage various aspects of implementation to create effective school improvement models at scale. Guided by a new framework that links Bryk and colleagues’ (2010) five essential supports and as reported by Desimone’s (2002) adaptation of Porter and colleagues’ (1986) policy attributes theory, we use a mixed-methods approach to study the implementation and effectiveness of school turnaround efforts in the School District of Philadelphia. We explore the relationships among key turnaround model components, approaches to model implementation, and academic achievement using a matched comparison design and estimating a series of regressions. Qualitative methods are used to contextualize findings and offer explanatory hypotheses.

Operator Versus Partner: A Case Study of Blueprint School Network’s Model for School Turnaround

Numerous high-profile efforts have sought to “turn around” low-performing schools. Evidence on the effectiveness of school turnarounds, however, is mixed, and research offers little guidance on which models are more likely to succeed. We present a mixed-methods case study of turnaround efforts led by the Blueprint Schools Network in three schools in Boston. Using a difference-in-differences framework, we find that Blueprint raised student achievement in ELA by at least a quarter of a standard deviation, with suggestive evidence of comparably large effects in math. We document qualitatively how differential impacts across the three Blueprint schools relate to contextual and implementation factors. In particular, Blueprint’s role as a turnaround partner (in two schools) versus school operator (in one school) shaped its ability to implement its model. As a partner, Blueprint provided expertise and guidance but had limited ability to fully implement its model. In its role as an operator, Blueprint had full authority to implement its turnaround model but was also responsible for managing the day-to-day operations of the school, a role for which it had limited prior experience.

In vivo imaging shows continued association of several IFT-A, IFT-B and dynein complexes while IFT trains U-turn at the tip.

Flagellar assembly depends on intraflagellar transport (IFT), a bidirectional motility of protein carriers, the IFT trains. The trains are periodic assemblies of IFT-A and IFT-B subcomplexes and the motors kinesin-2 and IFT dynein. At the tip, anterograde trains are remodeled for retrograde IFT, a process that in Chlamydomonas involves kinesin-2 release and train fragmentation. However, the degree of train disassembly at the tip remains unknown. Here, we performed two-color imaging of fluorescent protein-tagged IFT components, which indicates that IFT-A and IFT-B proteins from a given anterograde train usually return in the same set of retrograde trains. Similarly, concurrent turnaround was typical for IFT-B proteins and the IFT dynein subunit D1bLIC-GFP but severance was observed as well. Our data support a simple model of IFT turnaround, in which IFT-A, IFT-B and IFT dynein typically remain associated at the tip and segments of the anterograde trains convert directly into retrograde trains. Continuous association of IFT-A, IFT-B and IFT dynein during tip remodeling could balance protein entry and exit, preventing the build-up of IFT material in flagella.

Turnaround Prediction Model with Content Dimension on Financial Distressed Firms

Objectives - This article aims to examine the influence of content dimensions of Organization Change Theory, such as CEO Expertise, Free Assets, Debt to Equity Ratio and Growth of Sales, on a company’s turnaround ability when it is experiencing financial distress. The companies examined are listed on the Indonesian Stock Exchange (IDX). Methodology/Technique - The population used in this study is companies from sectors excluding the finance sector that were listed on the Indonesian Stock Exchange between 2013 and 2018. The sample size was determined using purposive sampling method. From the 109 companies that experienced financial distress, 57 have successfully turned their business around. The research data was collected from the ICMD (Indonesian Capital Market Directory), which was then analysed using multi regression technique analysis, using SPSS software to examine the determinants of company turnaround ability. Finding - The results indicate that CEO Expertise, Debt to Equity Ratio and Growth of Sales have a negative relationship on a company’s turnaround ability. Meanwhile, Free Assets has a positive and significant relationship on a company’s turnaround ability. Novelty - Previous studies have been conducted in many western countries, giving rise to researchers' doubts about the generalizability of research based on previous research findings when applied in developing countries such as Indonesia, particularly due to differences in regulations, conditions of distress, culture, financial systems and strategies used in overcoming distress. Type of Paper: Empirical. JEL Classification: B26, G15, P34. Keywords: Financial Distress; Turnaround Model; CEO Expertise; Free Assets; Debt to Equity Ratio; Growth of Sales Reference to this paper should be made as follows: Giriati, S.E, M.E. (2021). Turnaround Prediction Model with Content Dimension on Financial Distressed Firms, Journal of Finance and Banking Review, 5 (4): 36 – 42. https://doi.org/10.35609/jfbr.2021.5.4(4)

Turnaround Model Prediction with Content Dimension on Financial Distress Firms

This article aims to synthesize and test empirically turnaround model by content dimension that is an integration of the organization change framework into turnaround research to measure some activities done to avoid failure in turnaround. This study on the Indonesian Stock Exchange (BEI) by using Ordinary Least Square technique. The results of the analysis from content dimension show that the CEO expertise variable has a significant relationship to turnaround, since companies in Indonesia are dominated by family companies, so maintaining the incumbent CEO is more appropriate, because it is a family member. In addition, free assets show a significant relationship with turnaround, while leverage and growth of sales do not have a significant relationship with turnaround. Keywords: Financial Distress, Turnaround Model, CEO Expertise, Free Assets, Leverage and Growth of Sales,

Visualizing Turnaround Strategies over Time in a Volatile Commodity Industry

With the rise of the internet and electronic media, the first two decades of the 21st century have seen a rapid decline in demand for printing and writing paper. This study creates a visual representation of how pulp and paper companies’ strategies have changed over time, based on a four-quadrant turnaround strategy model developed by Pretorius (2008). It examines the strategies of forty such companies operating in North America and northern Europe over a fourteen-year period from 2004 to 2018. Companies that were most exposed to products with declining market demand tended to be the most likely to require financial restructuring; these companies also had to make simultaneous operational and strategic changes in order to stay in business. In contradiction of the turnaround model, companies responded to some types of external turnaround causes with operating (rather than strategic) actions. Companies operating in commodity industries must often adapt their strategies to deal with cyclical downturns; this contingency is not well reflected in the extant turnaround literature.

Is political connection a panacea for corporate turnaround?—An analysis based on the resource-based view during the global financial crisis

ABSTRACT This paper constructs a three-stage model of corporate turnaround, beginning with political connections’ affects declining companies’ implementation of turnaround strategies. The model also explores political connections’ role in corporate turnaround in the context of the most recent global financial crisis. This study discovered that political connections exhibited a weaker ability to allocate resources in the financial crisis. And the government would impede the implementations of turnaround strategies as an important stakeholder. Therefore, political connections significantly and negatively impact corporate turnaround. Through group testing, this paper further demonstrates that companies more dependent on political connections experience more significant, negative impacts.

Compensation gap, retrenchment strategy and organizational turnaround: a configurational perspective

PurposeThis paper extends the current understanding of the retrenchment-–turnaround relationship in declined companies by introducing a compensation gap view. It argues that the effectiveness of the retrenchment strategy is contingent on reducing the executive-employee compensation gap in the turnaround process.Design/methodology/approachDrawing from a two-stage turnaround model and insights from the literature on executive-employee compensation gap, we develop and test a theoretical model that explains how five attributes, which refer to executive-employee compensation gap, asset retrenchment, cost retrenchment, ownership and size, affect the outcome of the organizational turnaround. This paper uses the fuzzy-set qualitative comparative analysis (fsQCA) method and based on the samples of 112 listed companies that experience the decline between 2005 and 2013.FindingsThis paper concludes two valid causal paths and finds that small companies with small executive-employee compensation gap have a higher likelihood of successful turnaround when they implement cost or asset retrenchment actions. As for large state-owned companies, they should reduce the costs and maintain a small executive-employee compensation gap. An excessive compensation gap can be problematic, which could impair the organizational ability to cope with adversity and decline.Research limitations/implicationsFirst, this paper taps the vital role of employees in the turnaround process besides the mainstream “organizational decline-layoffs” logic, which hints a new human resource management strategy when organizations are facing decline. Second, this paper reveals the theoretical linkage between pay dispersion, internal stakeholder and organizational resilience. Third, as a methodological contribution, we introduce fsQCA, overcoming the shortcomings of turnaround strategy research with case and regression analysis and breaking through the paradigm of “specific factor-turnaround.”Practical implicationsOrganizational turnaround is a systematic process that constitutes multiple factors together. When organizations take the asset retrenchment to stop bleeding, reducing the executive-employee compensation gap will help enhance employee's cognition of organizational values and strategic goals, eliminate feelings of exploitation in retrenchment implementation and thus effectively promote turnaround. This paper also provides a basis for executive compensation restrictions and re-examines pay dispersion and economic inequality.Originality/valueThis study sheds some light on the importance of the executive-employee compensation gap in retrenchment strategy and contributes to both organizational turnaround and pay dispersion theories. Also, it reveals the theoretical linkage between internal stakeholders, organizational resilience and long-term orientation.

Turning Around Colleges of Education

The last decade has produced an unprecedented number of stakeholders calling for demonstrated improvement in the preparation of educational personnel. These pressures directly challenge the way teachers are prepared and the unit responsible for that work—Colleges of Education. Failure to identify needed changes and respond can result in the unit facing a crisis. The following study outlines comprehensive changes needed to accommodate to the ‘New Normal' of the teacher education enterprise, illuminates a change strategy to turnaround a unit in crisis, and reports two case studies where a College of Education responded to needed changes. Lessons from these two case studies served as a basis for a turnaround model useful to other institutions.

The Impact of School Improvement Grants on Student Outcomes: Findings From a National Evaluation Using a Regression Discontinuity Design

As part of the American Recovery and Reinvestment Act of 2009, the School Improvement Grants (SIG) program received more than $3 billion with the goal of substantially improving student achievement. The SIG program’s funding was to help states turn around the nation’s persistently lowest-achieving schools using one of four school intervention models—transformation, turnaround, restart, or closure. We used a regression discontinuity design and a large sample of schools from more than 20 states to evaluate the impact of implementing a SIG-funded intervention model on use of SIG-promoted practices and student outcomes. Our regression discontinuity design exploited cutoff values on the continuous variables used to define the SIG eligibility tiers to compare outcomes in schools that just met the eligibility cutoff for receiving SIG funding to outcomes in schools that just missed it. We found that SIG had no impact on any of the outcomes we examined, including math and reading test scores, high school graduation rates, and college enrollment rates. Using a correlational analysis, we found the turnaround model was associated with larger student achievement gains in math than the transformation model for grades 6 through 12.

REVIEW OF LITERATURE ON TURNAROUND STRATEGY IN BANKING

Purpose of the study: The business cycle always occur in banking activities. For that reason, banks often prepare a turnaround strategy to keep banking growing during changes of business cycles during which often happen during changes in the economic situation or changes in the regulation of a country. This article reviews study on banking turnaround strategy (in conventional and Islamic banks) regarding to the model turnaround strategy by Schoenberg, Collier, and Bowman (2013) from January 1990 to December 2017, in order to identify the current state of study and research gap. The publications were classified into process-orientated strategies and content-orientated strategies. The process-orientated strategies were divided into cost efficiencies, asset retrenchment, focus on core activities and build the activities. Meanwhile, the content-orientated strategies were classified into the changes of organisational structure and culture change.
 Methodology: This paper focuses on peer-reviewed Economy journal, excluding book and book chapters. The keywords included ‘turnaround strategy in banking’ and ‘business cycle’. Articles were only selected if they directly addressed into turnaround banking and the business cycle. The sample was generated by applying a keyword search on Mendeley database.
 Main Findings: There were 122 out of 250 in the sample analysed on the banking turnaround strategy. The majority of studies were concerned with the process-oriented strategies (such as the focus on core activities and build of the activities).
 Applications of this study: This study can be useful for strategic management of banking
 Novelty/Originality of this study: The implementation of turnaround model strategy by Schoenberg, Collier, and Bowman (2013) as the management strategies during the recovery process in banking.

School Improvement Grants in Ohio: Effects on Student Achievement and School Administration

The federal School Improvement Grant (SIG) program allocated US$7 billion over nearly a decade in an effort to produce rapid and lasting improvements in schools identified as low performing. In this article, we use a regression discontinuity design to estimate the effect of Ohio’s SIG turnaround efforts on student achievement and school administration. The results indicate that Ohio’s SIG program significantly increased reading and math achievement, with effects in both subjects of up to 0.20 standard deviations in the second year after SIG eligibility identification. Estimates for the third year are somewhat larger, in the range of one quarter of a standard deviation. We provide evidence that these effects were primarily attributable to schools that implemented the SIG Turnaround model. We also show that SIG eligibility had a positive effect on per-pupil spending, but no average effect on administrative outcomes, including staff turnover, the number of staff members in the school, and school closure. These null overall effects mask heterogeneity across SIG models, however. Most notably, Turnaround schools experienced more turnover than they otherwise would have, whereas Transformation schools experienced less.

A Temporal Approach to Retrenchment and Successful Turnaround in Declining Firms

AbstractThis study extends current understanding of the retrenchment–turnaround relationship in declining firms by introducing a temporal approach and arguing that the effectiveness of retrenchment as a strategy is contingent on its adoption early in turnaround attempts. Drawing from the two‐stage turnaround model and insights from the literature on downward spirals in organizations, we develop and test a theoretical model that explains how temporal considerations in retrenchment influence the likelihood of successful turnaround. Using a matched pair sample of 96 US firms, we find that declining firms that implement retrenchment actions early have a higher likelihood of successful turnaround. The findings also indicate that while two specific retrenchment actions, early divestments and early geographic market exits, significantly contribute to the likelihood of successful turnaround, early layoffs do not. Overall, the findings shed some light on the importance of timing strategic actions in organizational turnarounds. Implications for research and practice are discussed.

Optimizing Value Extraction from Turnarounds

Turnarounds represent the most significant portion of a plant's yearly maintenance budget and can affect the company's bottom line if mismanaged. They are necessary to ensure that equipment will not fail and cause severe accidents, which could result in a catastrophe and a consequent unscheduled outage.Turnarounds are hard to manage. The most dangerous period for any company is not when it is fully operational, but rather when it is in transition. During a turnaround, thousands of separate procedures are performed, often by contractors who are unfamiliar with the specific site. Some of these procedures involve highly volatile substances or risk-laden working environments such as confined spaces. In order to realize the benefits of an effective turnaround, companies must fully understand the risk environment, and both plan as well as allocate resources accordingly.The risk profile of a turnaround is indeed quite broad. Poor planning and execution can lead to costly delays, damage to critical assets, extensive environmental damage and severe safety incidents, which may include the loss of life. Such incidents have the potential extensively to affect company assets and public image.With this challenge, however, comes opportunity – a turnaround provides an ideal context for optimizing assets, taking action to reduce energy consumption and improving process efficiency. Recent technological advancements, coupled with an integrated approach to sustainable operations management, can help to reduce production costs and to achieve the bottom line.This paper will describe the benefits of improving the front-end contractor hiring process, vital to keeping control of turnarounds, as it not only initiates safety dialogue, but also clarifies the financial and practical implications of incorporating expectations into contractors’ bids. The process steps covered include the selection of contractors with demonstrated satisfactory safety performance, contractual requirement to work safely and clarification of safety expectations upon award. Moreover, the paper will review the DuPont Turnaround Model.