Managing in Tough Times - Keep Your Eye on the
Future
CEOs are often compared to ship captains guiding their
companies through the sea of business from port to port serving
and providing value to customers. Some companies are old line basic
industries and some are fast moving, high technology companies.
When tough economic times come, the same basic issues need to be
addressed. The following is the story of two different ships of
industry facing similar challenges.
When they first got the ship, she moved fast in the
water and turned on a dime. Over time they added crew and cargo
handling equipment. Now she sits a little lower in the water, even
when empty, and does not turn quite as fast. The captain decided
to do an inspection and the found that while they had been busy
going from port to port, piles of cargo and debris had been left
below decks and the water pumps had broken down with the bilge full
of water. Then they discovered, rather than a single large hole,
there were several small cracks and leaks in the hull.
Around the corner a sleek new ship cruised, that is,
until it hit a reef (or a recently wrecked ship) not on the charts
and started taking in water, fast. Even before they could start
repairing the hole, the captain had to make sure no one jumped overboard
instead of staying to fix it. In both cases the answers were the
same, stop the leaks, get rid of the excess weight and make room
for more cargo. Oh yeah, and update the charts.
· The major steps in a recovery are
pretty much the same
On both ships the captain did not do the work, the
crew did the work. The crew not only stopped the leaks, but started
shedding the excess weight by bringing in pumps. The captains provided
vision, guidance and set the standards. The crew agreed with the
goals and executed the plan; the captain kept following the results
and made sure the crew did not lose focus. Everyone agreed on the
measuring line, how fast the ship rose back to the proper water
line.
· Working in a storm
The stories could get even more exciting. Instead
of a simple inspection, the captain of the older ship discovered
that she was struggling to make headway in a storm. In the storm
the hull leaks were bringing in water faster. The fast, newer boat
could have hit the reef in a storm and not in calm weather. Again
the answers were the same, only harder to implement in the midst
of the crashing waves, rolling decks and lurching walkways. They
still had to stop the leaks any way they could, pump out the water
and get rid of excess weight. In a storm you usually do not have
time to fix the leaks, just plug the gaps and look for a temporary
harbor to make repairs.
Even though both captains had to deal with the current
critical issue, they did not lose sight of their primary purpose,
not to get lost in the details of making repairs, but get ready
to do more business with a ship now better able to do the job.
· Every industry has the same basic
tools to repair the damage and chart a new course
In the business world we have options that range from
increased team building and a new strategy to the major surgery
of ordering layoffs, selling off assets and making overhead cuts.
If these are part of new focused strategy that enables future growth,
then they make sense. If they are simply reactions to do something,
then the past shows all they do is cut to the bone and cripple your
future.
Make the changes of today with your eye on the future.
Communicate with your crew to tell them of the issues and elicit
their participation. What you do not what to happen if for them
to see the challenges and "jump ship" literally or figuratively.
Instead give them a vision for themselves and the
company. Be honest and forthright. They are the ones who are going
to do what ever repair and improvement work that is to be done.
Keep them on board and they will do great work for and with you.
Copyright 2008 Donald C. Mann. All rights reserved
Don Mann advises CEOs and business leaders across the globe. In organizations ranging from start-ups to Fortune 100 he has delivered level-raising results of improved innovation, sales, profits and cash flow in good and hard times. His results include developing and improving highly productive and lean organizations with more rapid responsiveness, reduced stress and profitable customer delight. Sitting on a number of boards, he helps CEOs grow their companies and shareholder value. For more information, contact him at: www.RiteMann.com
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