In one turnaround I was leading, a member of the senior leadership team was always in agreement with everything we discussed and pleasant to be around, but was quietly and effectively undermining my efforts to discover variances that were causing waste numbers to be excessively high. His department was causing the problem by using materials that were over specification because the correct inventory was not available when needed to meet order lead times. This senior manager didn’t want to spend the time or energy to solve it. Instead he tried to bury the data with evasive maneuvers. His passive/aggressive behavior proved not only costly to the company, but fatal to his career.
The Turnaround. Part 2 of 3
Strategy can emerge from a gap analysis illustrating where you are currently, your mission, vs your vision of where you want to be. Strategies, goals and objectives can all be set once the mission and vision are identified and agreed upon, and those strategies must be in alignment with the mission, and the organizations overall vision. Its extremely important to identify a unifying strategy(s) and to gain buy – in from all stakeholders in the value chain, and that includes customers, suppliers, employees, bank, and board.
The Turnaround. Part 1 of 3
Congratulations! You’ve just been hired as CEO of a company in deep financial trouble. The ownership and board of directors have given you free reign to do your job, and you feel up to the task of leading the effort, but you have limited time to turn this ship around, and get it moving in a different more profitable direction.
What will be your plan starting Monday, your first day on the new job… the first month…the first six months. How will you evaluate and manage the company and its processes. How will you engage with the customers?
