Interviews

Myers (2009) suggested that interviews are one of the most important data gathering techniques for qualitative researchers. Interviews allow researchers to gather rich data from people in various roles and situations. A good interview helps one to focus on the subject’s world. An effective form of interviewing is the telephone interview. Mann and Stewart (2000) suggested that the advantages of telephone interviews include the following:

 It allows wide geographical access.

 It helps the researcher get hard to reach populations.

 It is a possible means of access to people on sites which have closed or limited access.

It was the intention of the researcher to use interviews to get at specific information that addressed questions such as:

1) How do you define success of a TMP?

3) The literature suggests that psychometric skills add a differentiating component of performance success? If so, do they play a part in MVP success? And if this is true, which of these skills are the most differentiating for the TMP?

For a full summary of the interview questions see Appendix B. Interview questions were initially developed from suggestions by the focus group. These questions were then presented to colleagues of the researcher from the DBA program at Georgia State University to test

understanding. These edited questions were then presented to several faculty members, the researcher’s dissertation committee, at Georgia State University. Each question was tested for face validity and understanding (Glaser & Strauss 1967).

The research strategy constituted obtaining information from two different groups of individuals that work within the turnaround industry, The Turnaround Organization President (TOP) and the Most Valuable Player (MVP).

Each TOP was first contacted and introduced to the project by e-mail from the chapter president of the southeastern region, see Appendix G. The researcher followed-up with e-mails and telephone calls. While many individuals responded at the first phone call, most required up to four different e-mails and up to six phone calls before agreement to participate was solicited. This process was facilitated by an on-line training session in which six individuals participated. The training was conducted via GoToMeetings and consisted of an overview of the research, how it would be conducted, how privacy would be protected, and the benefits they would receive. Each TOP interview consisted of a 45 to 60 minute interview. An interview script was used to cover the minimum basic questions. In the spirit if interpretive research, the interviewer occasionally deviated from the script where the need arose to delve into key nuances that

questions covering general topics to set the stage and help informants feel comfortable with the process Spradley (1979). The interviews were conducted via phone over a three week period of time. The interviews for each turnaround consulting firm are sequential. During the interview, the TOP was asked to identify the top two “Most Valuable Players (MVP)” and the bottom two “Least Valuable Players (LVP)” in their consulting firms. This was done by asking the TOP to confidentially rank order all of his/her employees in terms of effectiveness, using their

previously obtained personal definition of effectiveness.

Finally, the TOPs were asked to refer other TOPs who would be a good fit for this research. This referral strategy “snowball” (Goodman 1961) was used to increase the likelihood of a TOP participating in this research, thus reducing the amount of time soliciting participants.

As expected, the interview protocol evolved as the research progressed. The researcher continued enlisting informants until additional interviews failed to reveal new or dispute given facts, in other words the researcher achieved theoretical saturation (Corbin & Strauss 1990). All interviews were electronically recorded and transcribed verbatim to ensure reliability (Eisenhardt & Bourgeois III 1988), when given permission. In some cases the transcription was e-mailed back to the informant for approval. Transcribed data was then entered in NVIVO for analysis. As promised to the informants, all recordings were erased after transcription.

To complete the study, the researcher sought to enhance the identification of MVPs by seeking the input of others who may have already made such a distinction. Several associations in the industry had done such a thing and published their results in newsletters and association journal’s i.e. Global M&A Network and Turnarounds & Workouts Magazine. It was discovered that Turnaround and Workouts Magazine generated a yearly list of the top turnaround

organizations and TMPs in the U.S. every year. A cold call contact was made to the editors of Turnaround and Workouts Magazine published by the researcher. Several interviews were held with the chief editor and the individual responsible for identification of this list. Information was provided on the top TMPs in the industry for the last three years. This list of individuals is known as the “people to watch list.” Every year in February, the Turnaround and Workouts Magazine sends out a call for nomination (see Appendix D) for the most successful TMP in the industry. Individual writers for the magazine, the top turnaround firms, past recipients, client organizations and others that are influential in the industry are asked to submit a nomination for this award. No specific criterion is provided leaving it open to the nominator. These nominations are sent to New York where three individuals, the two owners, editors of the journal, and a turnaround expert hired by the journal, review each nomination in a three day marathon session. A process of categorization is used to filter nomination until consensus is reached on the top ten. Award winners receive a letter of congratulation, theirs and the names of their organizations are published in a special edition of the journal and a banquet is held in New York to honor them.

The researcher found that most recipients held this honor in high regard. All informants identified it on their vitas and their organizations publish recipients of this award in their organization newsletters, company websites and other correspondence.

All of the thirty potential winners were contacted first via e-mail and then with follow-up phone calls and asked to participate in a telephone interview. Ten individuals actually

participated in the interviews. These interviews included question regarding their skill mix, education, methods for success, culture etc. Once again, the researcher continued enlisting informants until theoretical saturation was achieved.