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Managing through Turbulence.
Change, de-layering, re-engineering, downsizing, mergers, acquisitions ... the business world has been afoot with enough turbulence in recent times to keep the "fasten your seatbelts" sign almost permanently illuminated! Corporations are facing unprecedented challenges brought about by the...
| Clasificación: | Libro Electrónico |
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| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Emerald Group Publishing
2005.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Change, de-layering, re-engineering, downsizing, mergers, acquisitions ... the business world has been afoot with enough turbulence in recent times to keep the "fasten your seatbelts" sign almost permanently illuminated! Corporations are facing unprecedented challenges brought about by the relentless progress of globalization and new technologies. In this unpredictable and often chaotic arena, how can you as a manager keep control of your organization's direction? Business guru Peter Drucker argued that in turbulent times an organization must not lose track of the fundamentals. One organization to take heed of this advice was British Airways (BA) in its handling of the Concorde crisis in 2000. CEO Rod Eddington wrote personally to top Concorde customers in order to both reassure them about the unfolding situation, and keep them updated on BA's proposed fleet modifications. Despite the disastrous nature of the Air France crash in Gonesse and the potential threats it posed to BA's flagship aircraft, Eddington realized that he needed to keep his loyal customers on board from square one, or risk losing them for good. Compare this situation to the Firestone tyre recall affecting Ford Explorer vehicles in the United States. ABC News reports how the National Highway Transportation Safety Board has subsequently claimed that Ford knew about potential problems at least a year previous to the US accidents involving Explorers, and there were even reports on a tyre failure a year prior to this in Venezuela. Accusations were directed at Ford for not making this information available to the US government immediately and the company has suffered huge financial and PR damage as a result of the fiasco. Clearly, making the right decisions in times of instability and challenge is vital to your organization's prosperity. Whilst it would be easy to offer complicated theories and frameworks as a solution, many argue that sticking to the basics is the best approach to take. Consider for a moment the metaphor of flight: "The inherent principles of managing turbulence in flight are that of making the necessary adjustments to maintain structural integrity to withstand the blows, and then restoring positive control and positional awareness to chart an alternate course to your destination. And in thesedifficult and challenging circumstances the pilot reverts to the fundamentals of flying the aircraft first, and then determining the next best course of action."--Henry K, CEO Refresher. |
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| Descripción Física: | 1 online resource (76) |
| ISBN: | 1280706430 9781280706431 1846632897 9781846632891 |