Turnaround Management: An Explorative Investigation of the Strategic Leadership Competencies for the Turnaround of Indian IT Firms

This academic research determines the competencies and attributes required of the TMT for turning around Indian IT firms. It evaluates the efficacy of the leadership attributes for successful recovery of a distressed company. These attributes are known to promote superior performance for a leader to become a turnaround benchmarkable specialist. The author’s interest in choosing the Indian IT sector is also kindled due to its contribution to the country’s economic growth. An interpretivist, inductive approach has been used in this study. By conducting a mixed-method research, the researcher has sourced primary data from 32 respondents - using the technique of purposive sampling – drawn from senior management cadre of renowned Indian IT firms. The research tool is a questionnaire with open and closed ended question. The quantitative responses were tabulated and thematic analysis was conducted on qualitative data. Secondary data was sourced from the previous literature - academic, non-academic sources and business documents. The data analysis and findings of this study were revelatory in addressing the three themes – functional, social and cognitive competencies. Managerial abilities and domain knowledge if not adequate will blunt the impact of turnaround initiative. Similarly, cross-cultural skills are pivotal too. Likewise, corporate learning and development if found wanting in TMT can prolong the turnaround process. The TMT would immensely benefit from the above cited findings and insights. Since the author has based the findings on extensive primary and secondary research , the study will further contribute to the literature on corporate turnaround