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Atricle Dump - Turnarounds: From the Oval Office to the Corner Office
Ask yourself this question: “Do I like what I do for a living?” If you answered “no”, what are you doing about it? Maybe you have a “good” job, but it’s not very rewarding to you personally. Maybe you have job with good pay, but bad hours or worse – a job with good hours, but bad pay. Perhaps you’ve just done your job for too many years, or are excited to work in some of the new careers that just weren’t available when you finished school.Whatever the reason is for you wanting to switch careers, there are some practical considerations to take into account.How long will it take?How will I find the time to do it?How much will it cost?Th
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall
Last month, while sitting with a client discussing her resum?, I realized she forgot one extremely important piece of information: her strengths. She focused on the work that she did and how her experiences could assist her in the future, but she forgot to describe those tasks and projects she could effortlessly handle and enjoy the most.When I asked her about this quality, she looked at me a bit puzzled. She explained that her strengths were her accomplishments. While achieving large goals is a definite strength, I explained to her how I use or leverage my strengths (strategizing, meeting and connecting people, thinking creatively, communicating, and being responsib
Identify the problem. Whether it is the White House or Burger King, measures of success should already be in place. If not, the extant of the turnaround will be bigger than anticipated. Are the right things being measured? Do they tie to the vision and the mission? Are the objectives high enough? And which are hitting the targets, which are below the targets and which are exceeding the targets? If the measures are in place, they align with the vision and mission and they targets are realistic then the focus should go to the top two or three areas where performance is below the target level.
Review the goals. For the areas below their target levels the objectives need to be reviewed. Are they market based? Are they best-in-class? Do they include stretch? Do they align with the vision and mission? Are the objectives and timeframes clear? Are they trackable and quantifiable?
Ownership. Each metric or measure of success should have an owner at a senior level. While it may send out positive signals to the press to fire a chief of staff or to Wall Street by firing the CEO or CFO, the question is – how will this impact the specific problems? If the answer is to fix everything then replacing a leader is just a gesture. Who is accountable for each metric? Did they perform? If not why? If their performance resulting in the objective not being met then they should be replaced – immediately. And remember – replace and eliminate people starting at the top and work down. Not the other way around. Again – each measurement needs to have an accountable owner at a senior level.
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall
Congress has provided a number of tax incentives to encourage employers to provide employee education. This article discusses one of the most overlooked employer education tax incentive, Section 127 plans.Section 127 allows employers to create a program for providing employee education (up to $5,250 per year per employee), while permitting the employer a deduction and allowing the employees to exclude the amounts from their taxable income.Absent a Section 127 plan, the education tax rules can be a bit, well, confusing. Absent a Section 127 Plan (and assuming that the Section 117 scholarship provisions are not applicable), the cost for education provided by e
Identify the problem. Whether it is the White House or Burger King, measures of success should already be in place. If not, the extant of the turnaround will be bigger than anticipated. Are the right things being measured? Do they tie to the vision and the mission? Are the objectives high enough? And which are hitting the targets, which are below the targets and which are exceeding the targets? If the measures are in place, they align with the vision and mission and they targets are realistic then the focus should go to the top two or three areas where performance is below the target level.
Review the goals. For the areas below their target levels the objectives need to be reviewed. Are they market based? Are they best-in-class? Do they include stretch? Do they align with the vision and mission? Are the objectives and timeframes clear? Are they trackable and quantifiable?
Ownership. Each metric or measure of success should have an owner at a senior level. While it may send out positive signals to the press to fire a chief of staff or to Wall Street by firing the CEO or CFO, the question is – how will this impact the specific problems? If the answer is to fix everything then replacing a leader is just a gesture. Who is accountable for each metric? Did they perform? If not why? If their performance resulting in the objective not being met then they should be replaced – immediately. And remember – replace and eliminate people starting at the top and work down. Not the other way around. Again – each measurement needs to have an accountable owner at a senior level.
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall
Worker's tend to spend the majority of their day sitting in an office chair, shouldn't they be comfortable? A good ergonomic office chair is hard to find and even harder to choose. There are many factors to consider in finding the right ergonomic chair for your body type and workplace conditions. In example, a doctor has different ergonomic needs than a computer technician for the type of work performed.Start by considering your body type. The average office chair will fit the average sized person but larger and smaller body types may need special equipment or adjustment features. Considerations for a larger sized person are things such as seat height and depth adjus
Review the goals. For the areas below their target levels the objectives need to be reviewed. Are they market based? Are they best-in-class? Do they include stretch? Do they align with the vision and mission? Are the objectives and timeframes clear? Are they trackable and quantifiable?
Ownership. Each metric or measure of success should have an owner at a senior level. While it may send out positive signals to the press to fire a chief of staff or to Wall Street by firing the CEO or CFO, the question is – how will this impact the specific problems? If the answer is to fix everything then replacing a leader is just a gesture. Who is accountable for each metric? Did they perform? If not why? If their performance resulting in the objective not being met then they should be replaced – immediately. And remember – replace and eliminate people starting at the top and work down. Not the other way around. Again – each measurement needs to have an accountable owner at a senior level.
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall
The Federal Trade Commission’s Consumer Division’s Franchising Group is not well known by consumers or the citizenry. Franchising in the United States Accounts for one-third every consumer dollar spent and 400,000 outlets or stores. The Federal Trade Commission over sees the franchising industry. Some franchisors believe the FTC desperately needs turn over at the franchising division. Some attorneys who make money suing franchisors on behalf of franchisees and vendors like things just the way they are and realize any change would tip the balance and they would lose income in a highly litigious and good paying sector of law.One attorney we interviewed said in an email
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall
Well I have been looking at some data from 2000 and 2001, economic data. And some of the hot trends then are certainly changed now. For instance in August of 2000 in Chain Leader News for QSR-Quick Service Restaurants, national sandwich chains were losing market share to independents, nearly 41% over the previous two years and as much as 9.1% in the first and second quarter of 2000. This trend was changed in part by Wendy’s open late program and the recession where Brand Names and Franchises always thrive. Back then Thursdays and Fridays were the busiest days. 19% of revenue coming from Thursday and 18.5 from Friday, primarily due to the biggest shopping day of Thursda
Action Plans. Each measurement area targeted for turnaround needs to have a specific action plan. The action plan must include deliverables, dates, a budget and dedicated resources. Doing an action plan in the margins is the same as saying that it is not important. Weekly if not daily updates to the action plan need to be developed and presented. The time frames must be aggressive. Again, the overall owner of the metric or measurement must be held accountable for results and outcomes.
Track Progress. The actual performance against the action plan or turnaround plan should be tracked and updated daily. This should be available to all team members and all members of the senior leadership. It must be visible. If the progress misses dates, misses targets, goes over budget or does not get resources, this must be visible to the team members and also to the senior leadership. It is up to both the senior leadership and the action plan team to take the steps needed to insure the action plan stays on track.
Communicate, communicate, communicate. Whether it is the White House or Continental Airlines or Bausch & Lomb, communication externally is not as much of a problem as is internal communication. The problems, the proposed solution, the measures of success, the targets and the actual performance need to be clearly communicated to internally and externally. Customers, suppliers, employees, contractors and investors all need to be on board through clear, consistent and constant communication. And the news media should not be the only conduit for this purpose. The web, conference calls, e-mails, meetings, forums, retreats and other means should all be utilized for this purpose across all the constituencies.
Celebrate. When the goal is achieved – within the project plan, within the budget, within the headcount and by the target dates should be celebrated. The achievement of the clearly communicated goals or objectives for the turnaround projects should be cause for a celebration. This is not just a gesture. This is a tool to both communicate and to reinforce the achievement of goals or goals established in the turnaround action plans. Too often a moment for celebration passes without notice and it is on to the next crises. This is demoralizing for all parties involved in the turnaround initiative.
Raise the bar. With the achievement of the turn around plan it is time to reevaluate the measures, the objectives and actual performance in light of the vision and the miss
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