Article by:  Terry Kramer

Companies are compelled to confront short-term business fixes to survive for the moment, but the changes that jumpstart longer-term transformations to circumvent future economic challenges are the keys to successful turnaround initiatives.  The keys to successful turn-around transformations are two-fold: a massive sense of urgency and interpretive, summary information.

All key Managers and personnel that are involved in the chain of immediate decision-making and immediate information-gathering should be convened in one meeting room. Every participant should be informed that the tone of the meeting will follow different cultural

guidelines:

1. Information: When information is requested, it means to gather, develop, or acquire it now.

2. Compressed Timeframes: Debate is limited, and discussions are geared heavily toward factual data. If business points cannot be substantiated by internal or external data, the discussion is stopped. View these turnaround sessions as equivalent to the NFL’s 2-minute drills.

3. Re-Invent What Has Not Worked: When construction companies are faced with........ read more

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