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Management Required!
Turnaround is a moment of truth.
A management turnaround requires not only different priorities and methods, but also different attitudes, aptitudes and skills than those that are required to run a stable and profitable business.
Attitudes required. As mentioned previously, a real management turnaround is a business revolution, one without real bloodshed, but a revolution nevertheless. And as any successful revolution, a management turnaround requires leadership with a habit of rigorous thinking and penetrating analysis. A keen eye for opportunities is necessary along with courage and sustained willingness to fight for one's cause. There are other attitudes and aptitudes detailed below, including a can-do spirit that is both visionary and practical at the same time These attitudes and aptitudes are in short supply in most companies that are in distress, and an early objective of a turnaround is to instill in the employees and in outside parties a founded belief that the company will succeed.
But more than these attitudes and aptitudes are needed. Turnarounds require a greater technical management knowledge, broader experience, higher energy, better interviewing and research skills, more questioning minds and better negotiating skills, than business-as-usual management.
A successful management turnaround requires a leader who sees opportunity where others do not. A leader who is able to make decisions quickly based on incisive, a leader who is not afraid to innovate, who, in a crisis situation, has the drive to put in 70 – 80 hours of work a week and sometimes more, for a long stretch of time. It is worth repeating that a corporate turnaround leader is prepared not only to work for the company, but to fight for it.
These qualifications are essential because typically in a turnaround you have to make certain cuts, a corporate surgery, to keep the rest of the body alive, and you also have to reposition and reorganize the company, and you have to do this in a very tough environment.
Clearly, this is an environment that most managers are totally unfamiliar with. In most cases, this is the reason for calling upon a specialist to solve the problem. If the above list of critical financial problems and other critical symptoms describes your company's situation, or if your company is in danger of failing or is otherwise in serious trouble, if you want to achieve a corporate recovery, and if you feel that your present management does not have the necessary skills, attitude, drive and know-how, then you should consider hiring outside management turnaround services. Call us today, 877-320-4567
