Managing the turnaround
A turnaround does not happen by itself. Behind any successful turnaround management project lies enablers.
Turnaround leadership
Without a leader and aligned leadership team who can mobilise the organisation around a compelling turnaround ambition, and force the turnaround strategy, the turnaround is unlikely to get of the ground and be properly implemented.
Turnaround stakeholder management
Advocacy to retain or regain stakeholder support is crucial. Lack of proper communication to and consultation with internal and external stakeholders may lead to support being withdrawn no matter how good the turnaround strategy is.
Numerous technically feasible turnaround strategies have failed due to one or more stakeholders not supporting or having faith in the turnaround.
Turnaround project management
Rigorous project management is required to ensure that multi-disciplinary work streams meet their time, cost and resource targets.
While turnaround execution remains part of managers' day-to-day jobs, a turnaround is best managed as a project to focus attention on the task at hand.
Read more about the turnaround enablers in the menu on the left.