This book discusses the early indicators of a college or university's need for a turnaround. It outlines financial trends and other indicators of distress, as well as benchmarks for the various stages of an effective turnaround strategy. The book will help trustees, presidents, and faculty members diagnose whether they are in denial about the true condition of the institution they are charged with preserving. Donors, state officials, accreditors, and others interested in the quality and vitality of American higher education will find direction herein. The book will assist leaders in developing dramatic, purposeful strategies to revitalize challenged colleges and universities. What are the early warning signs that a college or university needs a turnaround? Waiting too long in the hopes that something other than dramatic, purposeful action will relieve a distressed institution is an all-too-common failing among trustees and other leaders. This book outlines the financial and other indicators of distress as well as indicators of the stages in an effective turnaround strategy. It helps trustees in particular diagnose whether or not they are in denial over the true condition of the institution they are charged with preserving. The book is organized into three sections. The first section, "The Natural History of Turnarounds," contains four chapters that detail the three stages common to academic transformations: fiscal reform, matching institutional strengths to market needs through marketing and branding, and a comprehensive change described as academic revitalization. The second section, "Special Topics," focuses on topics of interest to two groups of readers: presidents, financial officers, and trustees with special responsibility for overseeing the fiscal affairs of their institution; and those concerned with the unique features of turnarounds at state-supported colleges and universities. The final section, "Lessons for Leaders," summarizes the lessons to be learned from the turnaround stories. Chapter 1 presents Terrence MacTaggart's analysis of the three overlapping stages in the turnaround process: restoring financial health; marketing programs and branding the revived institution; and redefining the educational mission and culture. Chapter 2 focuses on restoring financial health, the first stage required in most, but not all, turnarounds. Jerry Berberet, drawing primarily from the experiences of members of Associated New American Colleges, discusses in chapter 3 the importance of marketing and branding, defining that process as the development and communication of an attractive image that accurately reflects the core values and strengths of a college or university. Chapter 4, written by Adrian Tinsley, addresses true academic revitalization, noting that real turnarounds are a combination of leadership, inherited culture, governance, location, and other factors unique to each institution. In chapter 5, Michael Townsley presents a primer on what turnaround leaders need to know about financial analysis and indicators. In chapter 6, Terrence MacTaggart the realities of bringing about change in the public sector. In chapter 7, Kenneth Shaw proffers practical advice to a new president with the ambition to take on a transformational role. In the final chapter, Terrence MacTaggart offers straightforward counsel to trustees, donors, and accreditors. The core message is that actions should be thoughtfully tailored to an understanding of a school's stage in its turnaround process. An index concludes the book. (Individual chapters contain references.)