Lessons from turnaround leaders

Purpose - Environmental uncertainty threatens many companies. This paper seeks to offer a strategic model to help imperiled firms overcome employee inertia, counter competitive forces, and speed organizational renewal.Design methodology approach - The paper presents a change model which outlines fiv...

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Bibliographic Details
Published in:Strategy & leadership 2011-05, Vol.39 (3), p.36-43
Main Author: Boyd, David P.
Format: Article
Language:English
Subjects:
Airports
Chief operating officers
Credibility
Employees
Executives
Leadership
Management of change
Organizational change
Presidents
Studies
Turnaround management
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Description
Summary:Purpose - Environmental uncertainty threatens many companies. This paper seeks to offer a strategic model to help imperiled firms overcome employee inertia, counter competitive forces, and speed organizational renewal.Design methodology approach - The paper presents a change model which outlines five major steps, each comprised of three elements. Examples from the field illustrate sequential stages of the cycle.Findings - This framework aligns human resources and organizational processes. By adhering to this approach, leaders can become transformational change agents.Practical implications - The proposed strategic format evolved from face-to-face discussions with exemplary turnaround leaders. In their visits to the author's classroom over the last six years, they offered insights that should prove beneficial to other leaders in turnaround situations.Originality value - The paper extends existing business models by providing a comprehensive set of action steps to engage all organizational members.
ISSN:1087-8572
1758-9568
DOI:10.1108/10878571111128801