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It is most definitely not for big, old-line companies that are facing an existential crisis and require a full-scale turnaround. None of these conditions exists in extreme events such as natural disasters, terrorist attacks, major military battles — or large-scale business turnarounds. The agile approach injected a level of speed and accountability not found in many business turnarounds. In a turnaround, teams may work unsustainable hours for several months at a time. MORE
Some of this year's best business books are narratives that cover the divergent fortunes of three hot technology companies -- one that crashed to earth, one in the midst of a wrenching turnaround, and one that is soaring into the stratosphere MORE
Whether your business continues to expand, has experienced a slowdown or turnaround, or is consistent with last year, we want to hear about your experiences. By: Jen Berkley Jackson. It’s back and we want to hear from you. Our 15 th Annual WIC Best Practices Survey is open March 14-April 17. A comprehensive analysis of the state of consulting businesses in the Bay Area. It’s hard to believe but this is the 15 th year WIC has run our best practices survey. MORE
This Firm Profile started as an email from Sean, asking if we could write on Alvarez & Marsal, “The Turnaround Guys”. Combining their industry experience, the pair were forerunners in what became a specialty area in professional services: turnaround management, corporate restructuring and operational performance improvement for companies and stakeholders. The firm’s first turnaround client was the household brand, Timex Corporation. Turnaround and Restructuring. MORE
The former president of Wiremold, Art Byrne, explains in his book The Lean Turnaround that he eliminated volume discounts and incentives for sales to book the largest possible orders. With more level demand, the warranty department was able to keep its turnaround time to under a week, even during the peak summer season. “Disruption” has become another business buzzword that obviates the need for prudent, careful thought and consideration. MORE
Latecomers can succeed at digitization if they take these five steps. Our Insights MORE
Italian oil and gas company Eni has transformed under a leader determined to reduce costs without cutting jobs—instead including employees in the turnaround mission. MORE
I like to say (especially to business buyers with stars in their eyes) that, “turnarounds make headlines because they are rare.” These five things present in a company make that company as rare as a successful turnaround and cause headlines to be written about them in business journals and magazines. To continue from the last two posts, here are my comments on situation number three. Losing money. Recent upward trend or reduction of expenses. Is it a spike or a trend? MORE
I (buyer) can fix this business (turnarounds make headlines for a reason, they’re rare). There was a recent news story about a Seattle area law enforcement officer suing for about $11 million because of a health condition caused by vaping (a CBD product and something else to relieve his stress and pain). Am I missing something? He heated a chemical concoction, inhaled it, and figured all was good? He couldn’t imagine burning chemicals could cause bodily damage. MORE
Suppose you are trying to design a company whose strategy is to provide broadly accessible, lower-cost, optical glasses to customers within quick turnaround times of one hour. Turnaround times might be much longer. A common approach is to identify different options for organizational structure and then analyze tradeoffs (e.g., pros and cons or degree attractiveness by objective). That said, I wanted to share another perspective that has carried me a long way. MORE
The dramatic turnaround engineered by Grossman -- from $120 million in annual losses to consistent profits -- offers important lessons for any manager seeking to overcome chronic underperformance, and lessons are also to be found in the rapid growth in its physician network, a top 10 ranking from U.S. MORE
This book tells the story of a successful sales executive who, after leading an analytics-driven turnaround (in Data Driven, this book’s predecessor), faces a new turnaround challenge as chief human resources officer. Jenny Dearborn Data Driven: How Performance Analytics Delivers Extraordinary Sales Results. MORE
AlixPartners is an international business advisory firm based in Southfield, MI known for its work in corporate turnarounds, bankruptcy assignments and restructuring. Generally regarded as turnaround market leaders, AlixPartners is doing a killer job at taking up more room in the consulting space by strategically hiring a plethora of gurus. Among these are turnaround teams, the role of Chief Restructuring Officer (CRO) and incentive-based success fees. MORE
Be clear about why the cuts are necessary, how it will help, your strategy for a turnaround and how you expect to make up for the reduction within a certain time frame. When the News Is Bad. No one likes to receive bad news. But it sometimes seems harder to deliver than to receive it. MORE
The legendary book ‘Moments of Truth’ by Jan Carlzon, detailed the business turnaround enacted at Scandinavian Airlines Systems (SAS) and was on the executive best-seller bookshelf in the late 1980’s. Be really honest about the customer service provided. MORE
Modern businesses follow the talent and many talented individuals are embracing their independence from companies, going off the books and onto their own as freelancers. MORE
We refer to these as turnaround and restructuring efforts. At this point, the company starts burning through cash reserves and needs to launch a turnaround. . Turnaround and restructuring programs involve applying all three components: * Funding the Journey. MORE
Transformation and turnaround leader specialized in building teams, measurement systems, and driving results at distressed and growth companies alike, with a focus on the middle market. Translation: turnaround expert. MORE
He describes his “shock and awe” approach (my terminology) in his excellent book The Lean Turnaround , where he takes the company through several week-long kaizen events. I’ve been struggling to resolve two conflicting facts: Science has shown that incremental change is both easier for people and more sustainable than dramatic change. Art Byrne has had undeniable business success by starting with dramatic change. MORE
In the early years of the turnaround initiative, hundreds of the top 350 senior leaders who could not, or would not, demonstrate their willingness to adapt their approach were let go or transitioned to other roles. MORE
Bruce Rauner’s Turnaround Agenda, which addresses Illinois’ top economic reform needs. Rauner’s Turnaround Agenda would put Illinois on the path toward responsible budgets, improved jobs growth and decreasing government dependency. MORE
Most often, they’re going to need additional help in developing the strategies and actions to make a positive turnaround. Right out of school, my first job was the stuff of horrors. I stepped from college to working for a manufacturer. MORE
Consultants and consulting firms can go some way towards reducing the effect of economic downturns by offering a range of services including some which are counter cyclical, that is, services which are more in demand during downturns such as restructuring and turnaround support services. MORE
When the business landscape changes, how can you turnaround a failing company? Assuming this leads to successful refinancing, what should the strategy be to turnaround and save this iconic company? Source: Flickr ). MORE
OTP is also affected by decisions made in multiple areas, including fleet size and composition, flight crew composition, and flight turnaround times. Article Wednesday, September 21, 2016. Sometimes it pays to sweat the small stuff. Take on-time performance (OTP). MORE
Turnarounds. Assuming RadioShack averts bankruptcy and achieves a successful refinancing, what should the strategy be to turnaround and save this iconic company? (Source: Flickr ). Below we provide a selection of sample consulting case questions. MORE
The CEO of the Swiss specialty-chemical company has steered it back onto a growth path through restructuring and an aggressive continuous-improvement program. Our Insights MORE
It’s quick – the turnaround time on jobs is impressive. Being a solo consultant doesn’t mean you have to do everything yourself. In fact, you shouldn’t. Of course, you need to take responsibility for all the core consulting tasks – those tasks that require your high-level expertise, your thinking, your credibility. But for a host of other things, get help. MORE
Recently, The Wall Street Journal reported on how Procter & Gamble’s CEO is under scrutiny by investors and the board for a stalling turnaround effort. P&G’s Stumbles Put CEO On Hot Seat for Turnaround. Most painfully, but all too common, this is occurring in the middle of a very difficult turnaround. For me, one of the most thought-provoking parts of this story was reported nearly at its end. MORE
A quick-service restaurant chain with thousands of outlets around the world is using data to drive a successful turnaround, increase customer satisfaction, and grow revenues. Our Insights MORE
Leaders don’t want their projects to be in a turnaround situation, but that often happens. Here are some tactics for resolving problems quickly. Insights on Capital Projects & Infrastructure MORE
99 John Shook describes how within the constellation of GM plants, the Fremont plant went from worst to first in quality in one year, with a 180-degree turnaround in culture, all while keeping the same workers. (In The overhead light in aisle two has been burned out for three months. It’s hard for the workers in that row to see the small parts they handle and repair. MORE
They gushed about the quality of the work, the quick turnaround, and of course, the extraordinary pricing. In case you missed last week: Thinking of hosting your own webinars? Here are 7 things you must consider. MORE
Only two years after going public, specialty tea retailer DAVIDsTEA announced at the end of 2017 that it was evaluating strategic alternatives, including a potential sale and store closures. MORE
The turnaround of the LEGO Group is one of the famous business stories of this century. He was a 35-year-old former academic and consultant who quickly gained a reputation as a turnaround artist. Video Thursday, January 19, 2017. MORE
This may include discrete projects completed at arms length, such as due diligence on a transaction, or turnaround projects where consultants are embedded within an organisation. Student consultants certainly mean well: for their CVs if not the organisations they consult to. But whether student consulting organisations deliver for clients or the students who take part is questionable. MORE
It’s quick – the turnaround time on jobs is impressive. Being a solo consultant doesn’t mean you have to do everything yourself. In fact, you shouldn’t. Of course, you need to take responsibility for all the core consulting tasks – those tasks that require your high-level expertise, your thinking, your credibility. But for a host of other things, get help. MORE
Some of the most notable specialisations include healthcare, IT or tech, and turnaround consulting. Although IT consulting firms can be big shops such as Gartner and Infosys, healthcare and turnaround consulting firms tend to be more boutique in nature. MORE
Turnaround Related Topics BCG
NOVEMBER 11, 2016
We refer to these as turnaround and restructuring efforts. At this point, the company starts burning through cash reserves and needs to launch a turnaround. . Turnaround and restructuring programs involve applying all three components: * Funding the Journey.
McKinsey
JULY 18, 2018
Leaders don’t want their projects to be in a turnaround situation, but that often happens. Here are some tactics for resolving problems quickly. Insights on Capital Projects & Infrastructure
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Strategy+Business
MARCH 12, 2017
The dramatic turnaround engineered by Grossman -- from $120 million in annual losses to consistent profits -- offers important lessons for any manager seeking to overcome chronic underperformance, and lessons are also to be found in the rapid growth in its physician network, a top 10 ranking from U.S.
Harvard Business
JULY 2, 2018
It is most definitely not for big, old-line companies that are facing an existential crisis and require a full-scale turnaround. None of these conditions exists in extreme events such as natural disasters, terrorist attacks, major military battles — or large-scale business turnarounds. The agile approach injected a level of speed and accountability not found in many business turnarounds. In a turnaround, teams may work unsustainable hours for several months at a time.
1 to 1
MAY 30, 2018
Only two years after going public, specialty tea retailer DAVIDsTEA announced at the end of 2017 that it was evaluating strategic alternatives, including a potential sale and store closures.
McKinsey
AUGUST 29, 2017
Latecomers can succeed at digitization if they take these five steps. Our Insights
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Harvard Business
OCTOBER 5, 2017
In the early years of the turnaround initiative, hundreds of the top 350 senior leaders who could not, or would not, demonstrate their willingness to adapt their approach were let go or transitioned to other roles.
Tom Spencer
SEPTEMBER 3, 2016
Consultants and consulting firms can go some way towards reducing the effect of economic downturns by offering a range of services including some which are counter cyclical, that is, services which are more in demand during downturns such as restructuring and turnaround support services.
McKinsey
OCTOBER 20, 2017
Italian oil and gas company Eni has transformed under a leader determined to reduce costs without cutting jobs—instead including employees in the turnaround mission.
McKinsey
JULY 27, 2017
A quick-service restaurant chain with thousands of outlets around the world is using data to drive a successful turnaround, increase customer satisfaction, and grow revenues. Our Insights
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BCG
JANUARY 19, 2017
The turnaround of the LEGO Group is one of the famous business stories of this century. He was a 35-year-old former academic and consultant who quickly gained a reputation as a turnaround artist. Video Thursday, January 19, 2017.
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Strategy+Business
NOVEMBER 1, 2015
Some of this year's best business books are narratives that cover the divergent fortunes of three hot technology companies -- one that crashed to earth, one in the midst of a wrenching turnaround, and one that is soaring into the stratosphere
Steve Shu Consulting
SEPTEMBER 1, 2016
Suppose you are trying to design a company whose strategy is to provide broadly accessible, lower-cost, optical glasses to customers within quick turnaround times of one hour. Turnaround times might be much longer. A common approach is to identify different options for organizational structure and then analyze tradeoffs (e.g., pros and cons or degree attractiveness by objective). That said, I wanted to share another perspective that has carried me a long way.
Tom Spencer
SEPTEMBER 14, 2014
When the business landscape changes, how can you turnaround a failing company? Assuming this leads to successful refinancing, what should the strategy be to turnaround and save this iconic company? Source: Flickr ).
Markovitz Consulting
JANUARY 14, 2019
The former president of Wiremold, Art Byrne, explains in his book The Lean Turnaround that he eliminated volume discounts and incentives for sales to book the largest possible orders. With more level demand, the warranty department was able to keep its turnaround time to under a week, even during the peak summer season. “Disruption” has become another business buzzword that obviates the need for prudent, careful thought and consideration.
Martinka Consulting
JANUARY 16, 2020
I (buyer) can fix this business (turnarounds make headlines for a reason, they’re rare). There was a recent news story about a Seattle area law enforcement officer suing for about $11 million because of a health condition caused by vaping (a CBD product and something else to relieve his stress and pain). Am I missing something? He heated a chemical concoction, inhaled it, and figured all was good? He couldn’t imagine burning chemicals could cause bodily damage.
Tom Spencer
JULY 13, 2019
Some of the most notable specialisations include healthcare, IT or tech, and turnaround consulting. Although IT consulting firms can be big shops such as Gartner and Infosys, healthcare and turnaround consulting firms tend to be more boutique in nature.
Successful Independent Consulting
JANUARY 20, 2017
Transformation and turnaround leader specialized in building teams, measurement systems, and driving results at distressed and growth companies alike, with a focus on the middle market. Translation: turnaround expert.
Management Consulted
JANUARY 25, 2016
AlixPartners is an international business advisory firm based in Southfield, MI known for its work in corporate turnarounds, bankruptcy assignments and restructuring. Generally regarded as turnaround market leaders, AlixPartners is doing a killer job at taking up more room in the consulting space by strategically hiring a plethora of gurus. Among these are turnaround teams, the role of Chief Restructuring Officer (CRO) and incentive-based success fees.
Management Consulted
DECEMBER 6, 2015
This Firm Profile started as an email from Sean, asking if we could write on Alvarez & Marsal, “The Turnaround Guys”. Combining their industry experience, the pair were forerunners in what became a specialty area in professional services: turnaround management, corporate restructuring and operational performance improvement for companies and stakeholders. The firm’s first turnaround client was the household brand, Timex Corporation. Turnaround and Restructuring.
Jacq Hackett Consulting
OCTOBER 24, 2017
It’s quick – the turnaround time on jobs is impressive. Being a solo consultant doesn’t mean you have to do everything yourself. In fact, you shouldn’t. Of course, you need to take responsibility for all the core consulting tasks – those tasks that require your high-level expertise, your thinking, your credibility. But for a host of other things, get help.
Jacq Hackett Consulting
OCTOBER 24, 2017
It’s quick – the turnaround time on jobs is impressive. Being a solo consultant doesn’t mean you have to do everything yourself. In fact, you shouldn’t. Of course, you need to take responsibility for all the core consulting tasks – those tasks that require your high-level expertise, your thinking, your credibility. But for a host of other things, get help.
LSA Global
JANUARY 1, 2018
This book tells the story of a successful sales executive who, after leading an analytics-driven turnaround (in Data Driven, this book’s predecessor), faces a new turnaround challenge as chief human resources officer. Jenny Dearborn Data Driven: How Performance Analytics Delivers Extraordinary Sales Results.
BCG
SEPTEMBER 21, 2016
OTP is also affected by decisions made in multiple areas, including fleet size and composition, flight crew composition, and flight turnaround times. Article Wednesday, September 21, 2016. Sometimes it pays to sweat the small stuff. Take on-time performance (OTP).
Markovitz Consulting
NOVEMBER 26, 2018
John Shook describes how within the constellation of GM plants, the Fremont plant went from worst to first in quality in one year, with a 180-degree turnaround in culture, all while keeping the same workers. (In The overhead light in aisle two has been burned out for three months. It’s hard for the workers in that row to see the small parts they handle and repair.
Rod Burkert
NOVEMBER 12, 2019
They gushed about the quality of the work, the quick turnaround, and of course, the extraordinary pricing. In case you missed last week: Thinking of hosting your own webinars? Here are 7 things you must consider.
SkillQuo
AUGUST 16, 2017
Modern businesses follow the talent and many talented individuals are embracing their independence from companies, going off the books and onto their own as freelancers.
Martinka Consulting
AUGUST 11, 2014
I like to say (especially to business buyers with stars in their eyes) that, “turnarounds make headlines because they are rare.” These five things present in a company make that company as rare as a successful turnaround and cause headlines to be written about them in business journals and magazines. To continue from the last two posts, here are my comments on situation number three. Losing money. Recent upward trend or reduction of expenses. Is it a spike or a trend?
Tom Spencer
JULY 2, 2015
Turnarounds. Assuming RadioShack averts bankruptcy and achieves a successful refinancing, what should the strategy be to turnaround and save this iconic company? (Source: Flickr ). Below we provide a selection of sample consulting case questions.
Kates Kesler
OCTOBER 9, 2012
Recently, The Wall Street Journal reported on how Procter & Gamble’s CEO is under scrutiny by investors and the board for a stalling turnaround effort. P&G’s Stumbles Put CEO On Hot Seat for Turnaround. Most painfully, but all too common, this is occurring in the middle of a very difficult turnaround. For me, one of the most thought-provoking parts of this story was reported nearly at its end.
Markovitz Consulting
JULY 11, 2017
He describes his “shock and awe” approach (my terminology) in his excellent book The Lean Turnaround , where he takes the company through several week-long kaizen events. I’ve been struggling to resolve two conflicting facts: Science has shown that incremental change is both easier for people and more sustainable than dramatic change. Art Byrne has had undeniable business success by starting with dramatic change.
Tom Spencer
JUNE 23, 2018
This may include discrete projects completed at arms length, such as due diligence on a transaction, or turnaround projects where consultants are embedded within an organisation. Student consultants certainly mean well: for their CVs if not the organisations they consult to. But whether student consulting organisations deliver for clients or the students who take part is questionable.
Confessions of a Consultant
DECEMBER 10, 2017
The legendary book ‘Moments of Truth’ by Jan Carlzon, detailed the business turnaround enacted at Scandinavian Airlines Systems (SAS) and was on the executive best-seller bookshelf in the late 1980’s. Be really honest about the customer service provided.
MishTalk
SEPTEMBER 29, 2015
Bruce Rauner’s Turnaround Agenda, which addresses Illinois’ top economic reform needs. Rauner’s Turnaround Agenda would put Illinois on the path toward responsible budgets, improved jobs growth and decreasing government dependency.
Peter Stark
OCTOBER 13, 2019
Most often, they’re going to need additional help in developing the strategies and actions to make a positive turnaround. Right out of school, my first job was the stuff of horrors. I stepped from college to working for a manufacturer.
Women in Consulting
MARCH 15, 2017
Whether your business continues to expand, has experienced a slowdown or turnaround, or is consistent with last year, we want to hear about your experiences. By: Jen Berkley Jackson. It’s back and we want to hear from you. Our 15 th Annual WIC Best Practices Survey is open March 14-April 17. A comprehensive analysis of the state of consulting businesses in the Bay Area. It’s hard to believe but this is the 15 th year WIC has run our best practices survey.
LSA Global
JULY 16, 2018
Be clear about why the cuts are necessary, how it will help, your strategy for a turnaround and how you expect to make up for the reduction within a certain time frame. When the News Is Bad. No one likes to receive bad news. But it sometimes seems harder to deliver than to receive it.
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