Developing a Turnaround Business Plan: Leadership Techniques to Activate Change Strategies, Secure Competitive Advantage, and Preserve Success, 1st Edition (Hardback) book cover

Developing a Turnaround Business Plan

Leadership Techniques to Activate Change Strategies, Secure Competitive Advantage, and Preserve Success, 1st Edition

By Norton Paley

Productivity Press

262 pages

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pub: 2015-06-22
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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

About the Author

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

Subject Categories

BISAC Subject Codes/Headings:
BUS053000
BUSINESS & ECONOMICS / Quality Control
BUS097000
BUSINESS & ECONOMICS / Workplace Culture