How to turn around any business?


So you just got your promotion to the manager or director level, or moved to another company with bigger scope and higher salary. You are supposed to turnaround the notoriously declining business and all the eyes are on you. Yet, as you enter the business, you understand the problems are everywhere. Your brand is losing market share, profitability is down, latest innovation is not working, your organization is demotivated and management’s only smart move was to bring you in, as your predecessor was shown the door. Be it taking over a declining brand, under-performing division or total company, one thing I can say for sure is that it’s very easy to underestimate the challenge and overestimate yourself by directly jumping into problems as they occur and expect fast turnaround. Your team reacts like they buy-into your solutions, pretend to go along with you, yet you somehow sense that there is…

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