The purpose of this paper is to report on the authors' in‐depth investigations of six successful turnarounds, which found that renewal was accomplished by a new management team that stepped outside the boundaries and constraints of the company and looked at its market through the eyes of customers and competitors.
The authors describe how to perform an outside‐in turnaround that refocuses the company on the needs and expectations of the customer. This customer focus energizes and focuses the entire organization toward a shared sense of purpose.
The forces moving a company to an inside‐out view are persistent and powerful. They must be countered with a tough resolve to ensure a company meets its customers' test for relevance.
The challenge of beginning a successful outside‐in turnaround is to find the right balance between realism and optimism.
The authors show how leading and sustaining an outside‐in turnaround means giving the organization a clear sense of purpose around the unifying theme of delivering superior customer value.
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