One important lesson of the Great Recession is that management must pay attention to every corner of the business before trouble occursAdd a quotable
Evanston, IL (PRWEB) February 27, 2012
A fresh approach to management in the new economy comes from a close look at the techniques used by those who are called upon to rapidly turn around underperforming organizations. The use of corporate renewal strategies is central to a new executive education program titled "Successful Corporate Renewal" announced by the Kellogg School of Management at Northwestern University.
Created by Professor James Shein, the architect of many successful corporate renewals and author of “Reversing the Slide: A Strategic Guide to Turnaround and Corporate Renewal,” the three-day program draws on the skills and values that guide successful corporate turnarounds and applies them to improving the performance of an organization of any size.
“One important lesson of the Great Recession is that management must pay attention to every corner of the business before trouble occurs. This requires a process of non-stop corporate renewal,” said Shein. “Many of the lessons we use in turnaround situations can be directly and usefully applied to the practice of day-to-day management, even in a strong economy.”
Participants will learn how to recognize the early warning signs of underperformance, new analytical techniques to accurately measure and forecast financial performance, as well as the leadership style needed to drive transformational change. There will be lessons on the ethical and legal complexities involved in the turnaround style of decision-making.
“A business environment with a corporate renewal mentality calls for special leadership skills,” said Shein. “Sometimes you have to know how to use ready-fire-aim as part of your leadership style in transforming a business unit.”
The course will introduce techniques for evaluating the risks and rewards of buying a troubled company and for how to assess the purchase of a competitor, supplier or customer. The program will facilitate an understanding of state, federal and international legal tools involved in turnaround management, including the use of bankruptcy as a sword when appropriate.
“Successful Corporate Renewal” is designed for senior level general managers, finance executives, or marketing executives as well as consultants, attorneys, and private equity executives whose work is to help improve outcomes for underperforming clients and portfolios both in the U.S. and globally.