1st Edition

Developing a Turnaround Business Plan
Leadership Techniques to Activate Change Strategies, Secure Competitive Advantage, and Preserve Success




ISBN 9781498705905
Published June 22, 2015 by Productivity Press
262 Pages

USD $57.95

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Book Description

Developing a Turnaround Business Plan is an ideal resource for managers currently facing a competitive crisis as well as those who wish to avert one and must set a turnaround plan in motion before the situation results in irreversible losses.

Whereas the book helps readers develop a sound turnaround plan, the focus of the book is on the actual process that contributes to the development and implementation of that plan. The book details how to identify the root causes that triggered the competitive crisis and how to initiate remedial actions before the turnaround plan begins. After reading this book, you will be able to:

  • Develop a flexible and rapid response to competitive counter-moves
  • Identify offensive and defensive strategies
  • Use competitive intelligence to identify decisive points to concentrate resources
  • Pinpoint the types of competitive campaigns that assure a successful turnaround
  • Assess the required leadership traits for implementing competitive strategies

Covering 13 different types of competitive campaigns, the book describes how to initiate effective offensive and defensive plans to neutralize your competitors’ advantages. It also details how to develop counter-measures for the numerous factors that can bring a turnaround campaign to a standstill.

The book helps executives of small and mid-sized organizations, as well as managers of business units and product lines in larger firms, to activate change strategies and secure sustainable competitive advantages. Examples are provided about real company turnarounds, including Intel, Levi Strauss, Yahoo, J.C. Penney, Hewlett-Packard, Panasonic, Staples, Samsung, and Abercrombie & Fitch.

Table of Contents

DEVELOPING A TURNAROUND BUSINESS PLAN

Identify the Root Causes That Trigger a Turnaround
The Primary Conditions That Activate a Turnaround
Types of Competitive Campaigns
Physical and Psychological Characteristics of a Competitive Conflict
     Conflicts Do Not Break Out Unexpectedly 
     Conflicts Require Neutralizing the Competitor 
     Conflicts Are Not Isolated Events 
     Campaigns Cannot Be Interrupted
Factors That Can Bring a Campaign to a Standstill 
     Competitive Conflicts Contain Elements of Chance

Prepare the Organization for a Turnaround
Introduction
The Physical Dimension
The Psychological Dimension 
     Organizational Culture 
     Seek Maximum Input from All Levels of Employees 
          Stay on the Offensive 
          Act as an Aggressive Competitor 
          Build a Strong Market Position 
          Stay Close to Evolving Technology 
          Establish Strong Internal Communications
Strong versus Weak Cultures
The Power of Morale
Relationships between Leader and Staff: Expectations for Developing a Turnaround Plan 
     Expect Active Participation from Staff
     Expect Staff to Maintain Momentum
     Expect the Staff to Neutralize Competitor’s Strategies
     Expect Innovative Thinking
     Expect Staff to Stay Alert to Competitive and Market Conditions
     Expect Staff to Respond to Negative Behavior
References

Prepare a Turnaround Strategy Plan
Introduction
Establishing a Strategic Direction
Objectives
Strategies
Postcampaign Strategies to Secure a Turnaround
     Signs of Complacency
     Signs of Inflexibility During a Time of Disruptive Change
     Signs of Lethargy
     Signs of Unnecessary Dispersal of Resources
     Signs of Inadequate Competitor Intelligence
     Signs of an Anemic Corporate Culture
     Signs of Ineffectual Leadership
     Signs of Sagging Morale
     Signs of Failure to Apply the Principles of Strategy
          Primary Strategies
          Supporting Strategies

ACTIVATE CHANGE STRATEGIES

Leadership Techniques to Activate a Turnaround
Introduction
The Transforming Effect of Courage
     Activating Intuition
     The Power of Determination
     Presence of Mind
     Honor, Recognition, and Reputation
     Strength of Mind
     Strength of Character
Leadership Applied to Market Selection
     Natural Markets
     Leading Edge Markets
     Key Markets
     Linked Markets
     Central Markets
     Challenging Markets
     Difficult Markets
     Encircled Markets
Intellectual Standards and Performance

The Competitive Campaign: Structure and Characteristics
Introduction
The Essential Components of a Campaign
     Duration of a Campaign
     Conducting the Campaign
     Defense versus Offense
     The Characteristics of Offense
     Campaign Follow-Up
     Use of Reserves

THE ESSENTIAL ELEMENTS OF TURNAROUND STRATEGIES

Bold Action versus Cautious Restraint
Introduction
Applying Boldness
Finding Decisive Points
Applying Caution
Management Tools for Decision Making
     BCG Growth-Share Matrix
     General Electric Business Screen
     Arthur D. Little Matrix
     Management by Objectives (MBO)
     Six Sigma

Concentration versus Dispersal Strategy
Introduction
Implementing a Concentration Strategy
     Consumers
     Intermediaries
          Introducing a New Product
          Intensifying Market Coverage
          Making a Smooth Transition When Adding or Replacing Distributors
          Changing Methods of Distribution to Complement Changes in Business Strategy and Movements in the Industry
     Competitors
     Regulatory Issues and Industry Trends
     Leadership and Management
          Market Research
          Planning
          Organization
     Guidelines to Utilizing a Concentration Strategy
Dispersal Strategy
Utilizing Agents for Competitive Intelligence
     General Agents
     Inside Agents
     Double Agents
     Expendable Agents
     Living Agents
How to Conduct a SWOT Analysis

Indirect versus Direct Strategy
Introduction
     Think Strategically
     Maneuver Tactically
     Unbalance the Competitor
          Stress
          Fear

Valuing Surprise and Speed
Introduction
Speed
Positioning
     Develop a Positioning Strategy
     Branding
Barriers to Implementing Speed
     Leadership
     The Organization
     The Ending Point
Valuing Surprise and Speed

SECURE COMPETITIVE ADVANTAGE AND PRESERVE SUCCESS

Use a Pretest to Evaluate Your Turnaround Plan for Competitive Advantage
Introduction
     Conditions Triggering a Turnaround
     The Organization
     The Turnaround Strategy Plan
     Leadership
     The Competitive Campaign
     Bold Action
     Concentration versus Dispersal Strategy
     Indirect versus Direct Strategy
     Surprise and Speed
A Final Word

Index

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Author(s)

Biography

Norton Paley has brought his world-class experience and unique approach to business strategy to some of the global community’s most respected organizations. Having launched his career with publishers McGraw-Hill and John Wiley & Sons, Paley founded Alexander-Norton Inc., bringing successful business techniques to clients around the globe, including the international training organization Strategic Management Group, where he served as senior consultant.

Throughout his career, Paley has trained business managers and their staffs in the areas of planning and strategy development, raising the bar for achievement and forging new approaches to problem solving and competitive edge. Paley has lectured in China and Mexico and has presented training seminars throughout the Pacific Rim and Europe for Dow Chemical and Cargill.

As a seminar leader at the American Management Association, he conducted competitive strategy, marketing management, and strategic planning programs for over 20 years. Paley’s books have been translated into Chinese, Russian, Portuguese, and Turkish. His byline columns have appeared in The Management Review and Sales & Marketing Management magazines