ANNEX VI : ATTITUDES THAT TURN THINGS AROUND
As mentioned previously, a corporate turnaround means drastic changes; it
is a business revolution. And as any successful revolution, corporate
turnaround requires strong leadership with a disciplined and analytical
mind, a keen eye for opportunities, courage and sustained willingness to
fight for one's cause. A corporate turnaround also requires the following attitudes and
related personal habits on the part of the turnaround leader :
-
a habit of rigorous thinking,
-
an ability to see to the big picture
as well as the essential details,
-
an ability to perform a penetrating analysis,
-
an ability to deal with many new situations as they arise,
-
an ability to make new rules and to improve or change them quickly
based on feedback,
-
a willingness to consider suggestions from all sources (see
solicitation of ideas from managers and other staff under Turnaround
Communications.)
-
a willingness to promote and reward employees based entirely on merit,
-
a great deal of initiative, creativity and drive,
-
an overall Can-Do spirit,
-
great intellectual honesty
(successful turnarounds are truly the opposite of fool's paradise),
and the courage of one's convictions;
These attitudes and habits, combined with management
standards/skills of a higher order should generate a viable
and realistic plan. Turnaround leaders who possess these
attitudes, habits, and skills have the best chance to turn troubled companies around.
|