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Turnaround

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Turnaround

How to Change Course When Things Are Going South

Ideapress,

15 min read
6 take-aways
Audio & text

What's inside?

Learn how to turn north when your business is heading south.

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Editorial Rating

9

Qualities

  • Applicable
  • Well Structured
  • Engaging

Recommendation

Early in her career at the semiconductor giant Intel, Lisa Gable learned priceless lessons about developing methods for turning companies around. Since that time, Gable, the former CEO of FARE, has applied process engineering to reverse the fortunes of struggling organizations in many industries. She explains why you can’t solve complex problems with a patchwork mentality. You need to strip your company down to the studs, she says: Ditch everything that doesn’t work, and rebuild it using battle-tested methods. A reinvention is intense, demanding and not always pleasant – particularly given the accompanying tough personnel decisions. But when you follow Gable’s guidance, you can see it through.

Summary

Half-measures won’t fix your broken organization.

The leaders of troubled organizations often believe they can regain equilibrium by spending more money or hiring additional people. Yet remedial strategies that rely on quick-fix philosophies seldom succeed.

Problem-solving requires a rigorous commitment to understanding the separate root cause of each issue. Repeated attempts to address the same problems indicate system failure. Organizations, projects and teams break down for the following reasons:

  • Accelerated growth and inadequate planning – When a team enjoys a successful start, its budget typically expands and it brings more people aboard. But haphazard expansion can stress a shaky foundation. A merger or acquisition may allow for rapid growth, but poor integration promotes systemic inefficiences.
  • Believing that money cures all – Decision-makers at struggling companies routinely throw cash at their problems. That provides only a temporary fix because the system remains broken.
  • Can’t see the forest for...

About the Author

Lisa Gable is a past presidential appointee, United States ambassador, United Nations delegate and adviser to Fortune 500 companies. She is the former CEO of the nonprofit Food Allergy Research and Education (FARE).

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