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Would you create a turnaround atmosphere to generate growth in a stable company

Posted in Executive Leadership / General Management on November 10, 2011
There are (2) comments permalink


Jamie spent his career managing turn around situations in medium to large size companies.  He benefitted from the newness of each situation as he entered without any knowledge of the company.  Things were failing, that’s why he was there, so when he started each job he focused on micromanaging with the help of his new inherited employees.  All spending, contracts, costs, processes, reports and relationships were questioned.  Jamie needed to understand everything before making any changes and he was always successful in making positive changes, turning the companies around and creating engaged and accountable teams in the process.  It’s been ten years since Jamie’s last turnaround.  He has been the president of his last turnaround since then and things have been good over the years leaving him a bit complacent.  His team has evolved with people moving on and new ones coming in.  Jamie knows he needs to take the company in a new direction because it is just not growing anymore.  He also knows that the best way to change an organization is to understand the details better than anyone else.  He’s lost track of the detail and does not feel his current team is ready for the “turnaround” actions he thinks are necessary.  

  • How should Jamie address his management team with what he wants to do?
  • How can he implement a detailed business analysis including micromanaging spending without demoralizing his team?
  • How can he use this exercise to motivate them and create the team effort he used to see in his turnaround days?
  • What ongoing processes can he put in place to ensure the company maintains a continuous evaluation of its spending and business practices to keep the company agile enough for redirection in future years?

Comments (2)

LDGT200 posted on: April 16, 2012

I don''t think micromanaging spending is the answer. You can create a growth environment by setting clear objectives and motivating people to achieve them based on results. That being said, I do believe it is important to clean house of bad processes, inefficient spending and complacency. You can do this by setting this as part of each management team member''s objectives and having them do the same for employees working for them. Jamie can set the metrics he wants to look at, have his staff define their own, and have all employees start doing an evaluation of how they can reach these targets. Implementing a "does this make sense" culture can be good no matter what stage your company is at.

GT31 posted on: April 13, 2012

First of all I think it is important that Jamie includes his team in the total turnaround activity. While he sets the course with a new vision, he should facilitate the team to create an actionable mission to accomplish his goals. He can create a key metric report as his template and ask each team member to create their own while spreading the momentum to evaluate all spending and other results across his management team. That way it is not micromanaging, but training his team to be co-leaders in the process. They will feel part of the "turnaround" activity and will not feel like that are being evaluated. Jamie must make it clear to all of them that this is not a blame game, but a continuous improvement process that the entire company can celebrate as improvements are made. He should also set up a portion of each management meeting to review the progress of this "turnaround" initiative.

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