1. Managing Business Turnarounds 10 Practical Lessons Learned John Craig, President Adams USA

2. 10 Practical Lessons Learned  Confront reality  Ditch “victim mentality”  Focus on problems  Create urgency  Set expectations  Confront reality  Ditch “victim mentality”  Focus on problems  Create urgency  Set expectations  Triage problems  Build alignment  Communicate constantly  Track progress  Remember to laugh  Triage problems  Build alignment  Communicate constantly  Track progress  Remember to laugh

3. 1. Confront Reality “Houston, we have a problem!”

4. 1. Confront Reality “Houston, it’s probably nothing but … “

5. EYH 2. Ditch the “victim mentality” “They” made me do it. T

6. 3. Focus on problems, not process “It’s the problem, stupid!”

7. 4. Create urgency Organizations hate the “C” word.

8. 5. Set realistic expectations

9. 6. Triage the problems Internal Problems Internal Problems External Problems External Problems

10. 7. Build ownership and alignment

11. 8. Communicate constantly Where are we going? How do we get there? How are we doing? What happens next? Where are we going? How do we get there? How are we doing? What happens next?

12. 9. Track progress. Celebrate success. Nirvana Looking Good OK, But... Getting Worried Serious Concerns Deep Guano Nirvana Looking Good OK, But... Getting Worried Serious Concerns Deep Guano 100 0 0 Business Performance Index

13. 10. Remember to laugh!

14. How can HR help? Own the problem Facilitate the process Provide the enablers Own the problem Facilitate the process Provide the enablers

15. Managing Business Turnarounds 10 Practical Lessons Learned John Craig, President Adams USA