Working Woes ......

With the worsening global economic crisis, more and more businesses regardless of it's needs to be turned around quickly. Turning around a sick company is already difficult. Possibly for an unsuccessful company, your first order of business is to stop supporting the things that lose money.

On the other hand, turning around a successful company is even much harder. Things will not be as straightforward and the process more complex. Thus, a key option here is to find the areas of competitive advantage. And push that advantage to even greater heights. What's more, for a successful company, it is harder to keep a turnaround going than to start one. Essentially in any turnaround we expect,

- All new investments must be fast, focused and fundamental.

- Do not let people raise obstacles to change unless they also propose solutions.

- Say 'Yes' or 'No', but never say 'Maybe.'

- Keep your people - employees, customers, suppliers and financiers informed.

- Leaders only get one chance.

Fundamentally, managers who are in turnaround mode can afford to spend time only on efforts that strke at the heart of the matter. While many companies concentrate on finding the right people, it is just as important, sometimes more so, to get rid of the wrong ones. Another factor is that the greatest stress to any business is possibly an unclear direction. Besides, people need to hear the logic for what is happening several times more often than seem reasonable. Lastly, the greatest threat to a successful turnaround is keeping the people who do not deliver anything except excuses. and, as leaders we cannot allow this slack - Time is just too precious to tolerate even one failure to perform.