Successful Turnarounds

Tiger Woods completed an amazing comeback yesterday to win his fifth green jacket at the Masters Tournament – 14 years after his last win there.  He did it after recovering from four back surgeries, rebuilding his golf swing, and competing against players 15-20 years younger than him.  It hasn’t been an easy road.

Turnarounds in business are not easy either.  I’ve been intimately involved in several turnarounds, including an $18 billion bankruptcy.  And radical changes in strategy are also not easy – Kodak, Xerox, and Bausch & Lomb are all good examples.  Apple’s current shift from a product focus to a services focus won’t be easy — it’s a shift IBM has found difficult.

Nonetheless turnarounds and significant strategic changes are often necessary.  Success requires enormous amounts of determination and intense focus, just as Tiger demonstrated.

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