managing business turnarounds 10 practical lessons learned

Managing Business Turnarounds

10 Practical Lessons LearnedJohn Craig, President Adams USA

10 Practical Lessons Learned

Confront reality Ditch “victim

mentality” Focus on

problems Create urgency Set expectations

Triage problems Build alignment Communicate

constantly Track progress Remember to

laugh

1. Confront Reality

“Houston, we have a problem!”

1. Confront Reality

“Houston, it’s probably nothing but … “

E YH

2. Ditch the “victim mentality”

“They” made me do it.

T

3. Focus on problems, not process

“It’s the problem, stupid!”

4. Create urgencyOrganizations hate the “C” word.

5. Set realistic expectations

6. Triage the problems

InternalProblems

ExternalProblems

7. Build ownership and alignment

8. Communicate constantly

• Where are we going?• How do we get there?• How are we doing?• What happens next?

9. Track progress. Celebrate success.

Nirvana

Looking Good

OK, But . . .

Getting Worried

Serious Concerns

Deep Guano

100

0

Business Performance Index

10. Remember to laugh!

How can HR help?

• Own the problem• Facilitate the process• Provide the enablers

Managing Business Turnarounds

10 Practical Lessons LearnedJohn Craig, President Adams USA