Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi
Strategic management can be defined as an inclusive process that requires the ability to manage change (Ketchen, 2012). Each word is important. First thing first, this is a process. This means that different steps are undertaken over a period of time to set and plan the strategy for the year to come or for the coming years. This also means that year after year, the process serves as a framework to guide the thinking, to set milestones or to sort roles within the organization. Moving to inclusive, this means that several stakeholders should be involved in the process. This would of course change from an organization to another. Yet, all functions are generally incorporated in the planning process. There might have a business planning or strategy & insights department that leads and coordinates the process. Alternatively, someone may be assigned and should engage and energize the different functions behind the strategic process. Whichever option, many functions are engaged. Top manag