Mike Carruthers:
In
studying some of the top CEO's in the country who are brought
in to turn a company around, it seems they share some common strategies
- for example…
Jason Jennings:
They made sure that every person in the organization knew the
strategy of the company.
Jason Jennings,
author of the book Hit
the Ground Running…
Perhaps the biggest
problem in American business today is that most companies engage
in this thing I call secret strategies, closed-door strategic
sessions, which are of course, sheer lunacy.
Another strategy
of these top CEO's is they stop focusing on the competition
and start focusing on the customer - something Circuit City
learned the hard way.
Here's a company
that for years had done nothing but study Best Buy and compare
themselves to Best Buy and we saw the result of that. I think
of Ron Sargent (the CEO of thirty billion dollar giant Staples)
who when he became CEO said, "We're not going to study
the competition, we're going to study our customer."
And when these
CEO's were brought in to turn a company around one thing they
did not do is fire all of the top management.
In fact they
all told me, "Why would I come in here and get rid of the
people who have the tribal knowledge of the organization?"
Because every organization has unique tribal knowledge as to
how things really happen within a company.
At somethingyoushouldknow.net
I'm Mike Carruthers and that's Something You Should Know.
|
