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.
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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