Chapter/Session 19: Aging with grace!

Session Description: In this session, I look at the choices that managers face when put in charge of declining firms, starting with acceptance (where they accept aging and act accordingly) and why management fights that path so much. I also look at the more alluring paths of revamps and rebirths, with examples of success, but with cautionary notes on difficulties on those paths.
Exercise:
For the declining company in your group
a.     What would denial look like (in terms of investing, financing and cash return policies?
b.     What would acceptance look like (in terms of investing, financing and cash return policies)?
c.     What would a revamp/rebirth look like (in terms of investing, financing and cash return policies)?
d.     Which of the above paths is the management currently running the company most likely to pick?