Why Most Corporate Turnarounds Fail Before They Begin
David Podolsky’s new Fortune Article highlights that turnarounds are a business and a psychological challenge. The article surfaces an overlooked reality inside many organizations: leaders often see the need for a turnaround long before they accept the need to act on it. Podolsky explains that this reluctance stems from fear of judgement, internal politics, and the weight of expectations. By the time leaders finally acknowledge the need, the head start they might have had is gone.
Podolsky argues for a different starting point. Before drafting plans and restructuring teams, leaders must create psychological clearance to talk openly about what’s occurring. Once that honesty emerges, the strategic work becomes more grounded, collaborative, timely, and real transformation becomes possible. Turnarounds must create space to calibrate assumptions and institute new behaviors, enabling the building of a company capable of continual reinvention.
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