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Managing Business Turnarounds 10 Practical Lessons Learned John Craig, President Adams USA

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Managing Business Turnarounds 10 Practical Lessons Learned. John Craig, President Adams USA. 10 Practical Lessons Learned. Triage problems Build alignment Communicate constantly Track progress Remember to laugh. Confront reality Ditch “victim mentality” Focus on problems Create urgency - PowerPoint PPT Presentation

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Page 1: Managing Business Turnarounds 10 Practical Lessons Learned

Managing Business Turnarounds

10 Practical Lessons LearnedJohn Craig, President Adams USA

Page 2: Managing Business Turnarounds 10 Practical Lessons Learned

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

Page 3: Managing Business Turnarounds 10 Practical Lessons Learned

1. Confront Reality

“Houston, we have a problem!”

Page 4: Managing Business Turnarounds 10 Practical Lessons Learned

1. Confront Reality

“Houston, it’s probably nothing but … “

Page 5: Managing Business Turnarounds 10 Practical Lessons Learned

E YH

2. Ditch the “victim mentality”

“They” made me do it.

T

Page 6: Managing Business Turnarounds 10 Practical Lessons Learned

3. Focus on problems, not process

“It’s the problem, stupid!”

Page 7: Managing Business Turnarounds 10 Practical Lessons Learned

4. Create urgencyOrganizations hate the “C” word.

Page 8: Managing Business Turnarounds 10 Practical Lessons Learned

5. Set realistic expectations

Page 9: Managing Business Turnarounds 10 Practical Lessons Learned

6. Triage the problems

InternalProblems

ExternalProblems

Page 10: Managing Business Turnarounds 10 Practical Lessons Learned

7. Build ownership and alignment

Page 11: Managing Business Turnarounds 10 Practical Lessons Learned

8. Communicate constantly

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

Page 12: Managing Business Turnarounds 10 Practical Lessons Learned

9. Track progress. Celebrate success.

Nirvana

Looking Good

OK, But . . .

Getting Worried

Serious Concerns

Deep Guano

100

0

Business Performance Index

Page 13: Managing Business Turnarounds 10 Practical Lessons Learned

10. Remember to laugh!

Page 14: Managing Business Turnarounds 10 Practical Lessons Learned

How can HR help?

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

Page 15: Managing Business Turnarounds 10 Practical Lessons Learned

Managing Business Turnarounds

10 Practical Lessons LearnedJohn Craig, President Adams USA


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