Everybody, every society, every company goes through crises – if you believe the economic researchers, over a period of ten years, this will be true for 80 percent of all companies. Often it also hits companies that are extremely well-positioned in the market and have a strong brand. But why does one company make the turnaround, while many others unfortunately disappear from the market? In the public domain, the term turnaround management is often associated primarily with terms such as restructuring, shrinkage, or austerity programs – measures that focus primarily on short-term goals. It gets forgotten that turnaround management primarily means sustainably setting up a troubled company for the future and, long-term, bringing it back into the zone of success. From my own experience as a consultant and CEO of a medium-sized company, there are four key factors that determine success or failure: Factor 1: Simultaneous consideration of the market...Read More