by Joe Frontiera and Dan Leidl
How does a leader impact a turnaround? Over the past five years, we spoke to both well-known and lesser-known turnaround masters, leaders who have altered the fortunes of their organizations. Remarkably, six distinct stages emerged.
1. Leading past losing. When successful turnaround artists first realized that their team needed an overhaul, they reflected on two things: what went wrong, and what they wanted their team to be.
Frank Esposito of Los Angeles-based Kendon Industries asked his team, “What are we doing that’s stupid?” This simple question uncovered valuable information from those on the front line, and painted a stark picture of where his organization had stumbled. Similarly, when Jeffrey Lurie bought the Philadelphia Eagles, he spent much of his first year as owner studying the San Francisco 49ers, then a model NFL franchise, to determine what he wanted his team to be.
2. Committing ...(register to read more)