The key elements for a successful turnaround
When assessing or doing a turnaround the key elements to remember are that the team driving it be experienced. That they base their plan on a real assessment of the firm’s problems and resources and that they immediately move to stop stupid spending and begin a process to assess the folks below the executive staff (this is the biggest pool of critical talent for the ongoing firm). That they consider taking the company private and that they have a process to build an executive team that can execute engaging this team in both the ongoing creation of the resulting effort and remaining engaged until the result in achieved.
If all of that is done rather than an uncertain outcome the turnaround can be assured -- it continues to amaze me that this process is more the exception than the rule in today’s technology market.
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