The important parts of business turnaround strategy
development and deployment are leadership, experience and expertise. The success of a turnaround plan rests with
the people on the turnaround team and their ability and willingness to
incorporate all of the company’s management team and key employees in the
process. It is important to have a
process structure which can achieve this.
As Business Planner, I
understand process, but I also understand the importance of experience and
fresh ideas in a turnaround situation.
It is the expertise of an experienced consultant who can adapt process
to a specific situation in order to find unique, creative, successful solutions
to a tough situation, using the strengths and experience of the turnaround team
and the insights of company managers and employees, finally putting it all collectively
in an agreed upon, synergistic, effective turnaround strategy, plan and
program.
The most important matter a business consultant should do
upon entering a turnaround situation is to listen, get to know everyone
end-to-end the organization and give them opportunities and avenues to
communicate with the consultant and the CEO.
The CEO should be doing the same exact thing alongside the business
consultant to ingrain trust, integrity and openness to the turn around
process. If the CEO does not hold a
position of high esteem with the employees throughout the organization, it is
time for him or her to go and be replaced by either a CEO who specializes in
turnaround situations or push someone from within that has this relationship
with the company’s people and can adjust quickly to being an effective
CEO. With this trust and integrity
established, it is time to get to work.
An experienced business consultant and turnaround consultant
can offer a variety of skill sets and services to help with the business
turnaround. These include: Investment Overview
