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The Phoenix Effect: 9 Revitalizing Strategies No Business Can Do Without

By Carter Pate & Harlan Platt
Published by Wiley, John&Sons, Inc.

 


Every business, whether successful or striving for success, can make an attempt towards revival at one point or the other. In their book “The Phoenix Effect: 9 Revitalizing Strategies No Business Can Do Without”, Pate and Platt introduce business strategies that will make companies revitalize and thrive. The ‘Phoenix Effect’ aims to boost organizational performance and encourage managers to assume dynamic leadership of businesses. 

 

Highlighting the issues of present economy, Pate and Platt’s book, with their many relevant success and failure stories, prepare entrepreneurs for various business challenges. The authors include business case studies to aid decision making. Pate and Platt’s strategies present critical concepts that direct towards business success.

According to the authors, the 9 crucial approaches to prospering businesses are:  

  1.        Identification of the precise problems in business
  2.        Determining market relevancy and scope
  3.        Differentiating self products from other businesses  
  4.        Managing business growth and expansion
  5.        Handling company debt issues
  6.        An attempt towards increasing company assets
  7.        Increasing business products
  8.        Employee management
  9.        Introducing innovative and efficient methods in business

According to Pate and Platt, the success and failure of companies is ultimately dependant on their business plans. ‘Phoenix Effect’ serves a single purpose: it is geared to help entrepreneurs identify when their companies should perform a volte-face, or otherwise survive with a little adjustment and improvement.

 

Carter Pate, presently serving at the PricewaterhouseCoopers as business renewal specialist, is backed by 20 years, and more, experience as consultant and implementer of business strategies. His career graph includes service as Chairman and CEO of a range of public enterprises. He has also founded (in partnership) the Pate,Winters&Stone national consulting firm. 

 

Harlan Platt, a professor of Finance and Insurance Group, serves at the College of Business under Northeastern University. As a member of the board of directors of New York Stock Exchange, Irish Stock Exchanges, and Nasdaq, Platt assists companies, practicing consulting in corporate bankruptcy and crises management, which is also the topic of his research.