Most corporate turnarounds fail before they start — not because of market conditions or flawed tactics, but because senior leadership fails to initiate the turnaround in the first place. Overcoming the psychological barriers that prevent change is the first impediment leaders have to overcome.
Facing the fear of turnaround
Corporate turnarounds used to be a rare occurrence, impacting companies that allowed themselves to fall behind over many years. Alternatively, a single, major disruption created a clarion call that motivated leaders to take drastic measures to turn the company’s fortunes around.
But today, the velocity of disruption has increased. Innovation is relentless, with information flowing faster, and tech becoming increasingly intelligent; companies have to contend in an environment that’s shifting under their feet.
So instead of a clarion call urging them to change, executives are hearing a series of low-grade alarms, constantly sounding and impossible
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