College of Business Dean Lynne Richardson
Read College of Business Dean Lynne Richardson’s latest column in The Free Lance-Star: Taking Your Foot Off the Gas Pedal.
Most of us have been there. The organization we work for is losing customers, patients, or students. When those who pay disappear, revenue is impacted and employee morale suffers. Perhaps a lack of customers is not the issue. Maybe expenses are out of control. Maybe it’s a combination of both. Whatever the culprit, the organization’s leadership ultimately is replaced, typically with an outsider.
Then what happens? Depending on the situation, of course, many organizations bring in what I would describe as turnaround specialists. These folks are highly motivated to address the issues, and quickly. Those who hired them have given them their marching orders. They are to right the ship. They were hired with that express purpose. Their timetable is limited to address whatever is causing the problems.