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Managing Business Turnarounds 10 Practical Lessons Learned

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

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Managing Business Turnarounds 10 Practical Lessons Learned

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  1. Managing Business Turnarounds10 Practical Lessons Learned John Craig, President Adams USA

  2. 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 • Set expectations

  3. 1. Confront Reality “Houston, we have a problem!”

  4. 1. Confront Reality “Houston, it’s probably nothing but … “

  5. 2. Ditch the “victim mentality” “They” made me do it. T H E Y

  6. 3. Focus on problems, not process “It’s the problem, stupid!”

  7. 4. Create urgency Organizations hate the “C” word.

  8. 5. Set realistic expectations

  9. 6. Triage the problems Internal Problems External Problems

  10. 7. Build ownership and alignment

  11. 8. Communicate constantly • Where are we going? • How do we get there? • How are we doing? • What happens next?

  12. 9. Track progress. Celebrate success. Business Performance Index 100 Nirvana Looking Good OK, But . . . Getting Worried Serious Concerns Deep Guano 0

  13. 10. Remember to laugh!

  14. How can HR help? • Own the problem • Facilitate the process • Provide the enablers

  15. Managing Business Turnarounds10 Practical Lessons Learned John Craig, President Adams USA

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