This approach is goal orientated and does not accept obstacles to start with. If obstacles occur during the turnaround process, they will be eliminated as they emerge. The target of the turnaround must be clearly and measurably defined, and from there for all employees targets are developed step by step, so that all personal targets fully support the overall goal. Operational excellence practices (e.g. targeted continuous improvement) should be implemented in parallel. The achievement of the targets of each employee should be checked monthly, learnings collected and if needed improvement actions implemented.
The turnaround strategy should be laid out in a “Strategy” paper and communicated appropriately into the whole company. The “Strategy” paper should in minimum include:
- Overall target: definition, rationale, quantification and milestones with timelines.
- Departmental targets: list, rationale, ranges, timelines, responsibilities for their achievement, and the way how achievement of the targets will be controlled.
- Individual targets: rationale, general suggestion, how they should be derived from the departmental and operational excellence targets and the way how they will be controlled.
- Operational excellence initiatives: list and general description of each initiative that will be applied, targets, timelines and responsibilities (function-wise).
- Follow up, change control: a definition, how often, how and by whom the Strategy itself will be checked and if needed changed.
If you are interested in the concept in detail, get the white paper by means of the form on this page.
If you want to know about our customer’s experience with the concept, please read the references.