Developing a Turnaround Business Plan : Leadership Techniques to Activate Change Strategies, Secure Competitive Advantage, and Preserve Success

250 Pages·2015·10.68 MB·English

by  Paley

Lean Methods & Implementation / Leadership Strategy P
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Norton Paley
Developing a Turnaround Business Plan is an ideal resource for manag-
ers currently facing a competitive crisis as well as those who wish to avert
one and must set a turnaround plan in motion before the situation results in
irreversible losses. Developing a
Whereas the book helps readers develop a sound turnaround plan, the focus
D
of the book is on the actual process that contributes to the development and
e
implementation of that plan. The book details how to identify the root causes v
that triggered the competitive crisis and how to initiate remedial actions e Turnaround
l
before the turnaround plan begins. After reading this book, you will be o
able to p
i
n
• Develop a flexible and rapid response to competitive g
counter moves a Business Plan
• Identify offensive and defensive strategies
T
• Use competitive intelligence to identify decisive points to u
concentrate resources r
n
• Pinpoint the types of competitive campaigns that assure
a
a successful turnaround r
o
• Assess the required leadership traits for implementing
u
competitive strategies
n Leadership Techniques to Activate Change
d
Covering 13 different types of competitive campaigns, the book describes

how to initiate effective offensive and defensive plans to neutralize your B Strategies, Secure Competitive Advantage,
u
competitors’ advantages. It also details how to develop counter measures
s
for the numerous factors that can bring a turnaround campaign to a in and Preserve Success
standstill.
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The book helps executives of small and mid-sized organizations, as well as
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managers of business units and product lines in larger firms, to activate
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change strategies and secure sustainable competitive advantages. Exam- l
a
ples are provided about real company turnarounds, including Intel, Levi
n
Strauss, Yahoo, J.C. Penney, Hewlett-Packard, Panasonic, Staples,
Samsung, and Abercrombie & Fitch.
K24795
ISBN: 978-1-4987-0590-5
90000
9 781498 705905

Developing a
Turnaround
Business Plan

Norton Paley
Developing a
Turnaround
Business Plan
Leadership Techniques to Activate Change
Strategies, Secure Competitive Advantage,
and Preserve Success
Boca Raton London New York
CRC Press is an imprint of the
Taylor & Francis Group, an informa business
A PRODUCTIV ITY PRESS BOOK
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© 2016 by Norton Paley
CRC Press is an imprint of Taylor & Francis Group, an Informa business
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Version Date: 20150213
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To the memory of Rebbe Nachman

Contents
Introduction ........................................................................................xiii
Section i Developing a turnaround Business Plan
chapter 1 Identify the Root Causes That Trigger a Turnaround .....3
The Primary Conditions That Activate a Turnaround ............3
Types of Competitive Campaigns ..............................................7
Physical and Psychological Characteristics of a
Competitive Conflict ..................................................................16
Conflicts Do Not Break Out Unexpectedly .......................16
Conflicts Require Neutralizing the Competitor ................17
Conflicts Are Not Isolated Events .......................................19
Campaigns Cannot Be Interrupted ....................................20
Factors That Can Bring a Campaign to a Standstill ..............22
Competitive Conflicts Contain Elements of Chance ........25
chapter 2 Prepare the Organization for a Turnaround ..................27
Introduction ................................................................................27
The Physical Dimension ...........................................................28
The Psychological Dimension ...................................................29
Organizational Culture .........................................................29
Seek Maximum Input from All Levels of Employees .......32
Stay on the Offensive ........................................................33
Act as an Aggressive Competitor ....................................35
Build a Strong Market Position .......................................35
Stay Close to Evolving Technology .................................35
Establish Strong Internal Communications ..................36
Strong versus Weak Cultures ....................................................37
The Power of Morale ..................................................................37
Relationships between Leader and Staff: Expectations
for Developing a Turnaround Plan .........................................44
Expect Active Participation from Staff ..............................44
vii
viii • Contents
Expect Staff to Maintain Momentum .................................45
Expect Staff to Neutralize Competitor’s Strategies ...........47
Expect Innovative Thinking .................................................49
Expect Staff to Stay Alert to Competitive and Market
Conditions ..............................................................................50
Expect Staff to Respond to Negative Behavior ..................51
References ....................................................................................52
chapter 3 Prepare a Turnaround Strategy Plan ..............................53
Introduction ................................................................................53
Establishing a Strategic Direction ............................................55
Objectives ....................................................................................60
Strategies ......................................................................................62
Postcampaign Strategies to Secure a Turnaround .................65
Signs of Complacency ..........................................................66
Signs of Inflexibility During a Time of Disruptive
Change ....................................................................................66
Signs of Lethargy ...................................................................67
Signs of Unnecessary Dispersal of Resources ....................67
Signs of Inadequate Competitor Intelligence ....................68
Signs of an Anemic Corporate Culture .............................68
Signs of Ineffectual Leadership ............................................69
Signs of Sagging Morale ........................................................69
Signs of Failure to Apply the Principles of Strategy ..........70
Primary Strategies .............................................................70
Supporting Strategies .......................................................72
Section ii Activate change Strategies
chapter 4 Leadership Techniques to Activate a Turnaround .........79
Introduction ................................................................................79
The Transforming Effect of Courage .......................................81
Activating Intuition ...............................................................83
The Power of Determination ................................................85
Presence of Mind ...................................................................87
Honor, Recognition, and Reputation ..................................87
Strength of Mind ....................................................................89