Companies that start quite well, often have a mid life crisis and start stagnating. Growth rates drop, operational performance gets impacted due to lower margins and reduced cash flows.
The response to stagnation and reduced cash flows is often cost cutting, reducing bench strength, hiring new managers, firing below par performers, restructuring operations, strategy sessions, hiring consultants etc. But stagnation continues.
Growth is a function of leadership. Owners and CEOs often refuse to accept that the problem lies at their doorstep.
Possible solutions could be to find a guru or a mentor who works with the CEO or the owner and has in confidence discussions with him. Close door sessions, heart to heart talk, honest conversation is a good way to restore owner confidence.
More mundane solutions could be working a new business acquisition strategy, improving delivery processes, re-structuring, decentralized decision making, empowerment etc.
The response to stagnation and reduced cash flows is often cost cutting, reducing bench strength, hiring new managers, firing below par performers, restructuring operations, strategy sessions, hiring consultants etc. But stagnation continues.
Growth is a function of leadership. Owners and CEOs often refuse to accept that the problem lies at their doorstep.
Possible solutions could be to find a guru or a mentor who works with the CEO or the owner and has in confidence discussions with him. Close door sessions, heart to heart talk, honest conversation is a good way to restore owner confidence.
More mundane solutions could be working a new business acquisition strategy, improving delivery processes, re-structuring, decentralized decision making, empowerment etc.
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