When Alan started at Ford, Ford had 97 brands, and ALL of them were losing money. There was very little that was profitable at Ford, and this was a difficult task to encounter for a man who had been working for Boeing for the previous several years!
An agressive turn around for Mr. Mullaly comprised of several items:
1) Agressive Re-Structure to meet current demand.
2) Accelerate Development of New Products
3) ONE team moving forward, instead of isolated departmentalism.
HOPE was not one of his strategies, there was a relentlessly communicated action plan.
In a more general sense, there are several changes required in a turn-around:
1) Deal with Reality
2) Know where you are, and where you are going
3) Create the best in class environment, this may require a culture shift
4) The leader of the turn around sets the standard for whats acceptable and whats not
It is the leaders responsibility to define reality, identify the issues, and create a plan to fix it!
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