Turnaround Situation
Issue:Generic company was continually generating operating losses. Internal planning efforts, including input from two previous consulting projects (other firms) did not produce any improvements. Parent company was considering alternatives, including divestiture.
Action:
Managed in-depth business and strategic planning process, involving all top and middle management in re-thinking of all aspects of generic development, marketing and sales.
Result:
Led to a major reorganization of the subsidiary’s departments, redeployment of development resources, revamping of the product line and refocusing of marketing efforts.
Rapid implementation of the recommendations resulted in an immediate turnaround of the division. Within six months, it was operating profitably.
Received division’s President’s Recognition Award.
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