Many business owners/CEO’s unfortunately don’t spot the signs that led to their company being on the verge of insolvency, or bankruptcy. So what are the signs that your company may be in distress?
• Strained financial resources
• demoralized senior management
• fearful employees
• unhappy customers
• tense bankers
• angry investors
• competitors waiting to pounce
Years ago a colleague of mine had a desk plaque that read, “The buck stops…over there.” For too long, this has been the mantra of the unwitting American healthcare consumer. Many Americans do not recognize themselves as consumers when utilizing the healthcare system. We are “patients” – often impatient, of course, but “patients,” nonetheless. We are people who, according to the definition of patients, “receive or are registered to receive medical treatment.” Therein lies the problem: patients “receive”, we are acted upon, we are passive participants in the healthcare process. We pass the buck.
Veteran interim executive Don Bibeault has more than 30 turnarounds under his belt, ranging from steel mills to financial services companies.
Bibeault knows something about leadership. He’s been doing turnarounds, 9 of which were interim CEO assignments, since the 1970s. He was the first ever recipient of the Turnaround Management Association’s lifetime achievement award.
His best-selling book, Corporate Turnaround, How Managers turn Losers into Winners, has for years been a key text in the study and practice of turnarounds.
Association Membership Application
First-year Change Agent members have access to the Interim Institute’s 4 hour audio program on the Fundamentals of Interim Management, and a one-hour strategy session to help jumpstart their interim career.
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