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Billion Dollar Turnaround: The 3m Spinoff That Became Imation,Used
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This is the amazing but true story told in first person of a fearless CEO, his management team, and a company that was deep in debt and losing money. Anyone who wants to make a business more profitable and competitive will find it of great value, and it is essential reading for those who find themselves in a life or death, turnaround situation. In a lively and engaging way, William T. Monahan explains how he and his executive team transformed seven moneylosing business units with $2.4 billion in sales that were spun off from 3M Company into a dynamic, topperforming business called Imation. He explains how a new corporate culture of performance was created and outlines techniques anyone can use to focus a business for success while determining which opportunities to pursue and which to pass up. In a highlyreadable and easily understood way, he tells how he and his team took a company that was $450 million in debt and losing money all the way to one with more than $475 million in cash and no debt, while repurchasing almost $200 million of its stock. Today, Imation not only is profitable, the company is the world leader in removable digital storage media, boasting twice the market share of its closest competitor.This is a mustread for any executive who is judged by the financial performance of the business under his or her direction.
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This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
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