As a new to position CEO or MD a key objective will be driving growth. Most new leaders head straight to the financials to determine where the business is in relation to targets and if it\u2019s in line with forecasts for the quarter. It can quickly become apparent that targets have been missed and change at speed is required to regain profitability. When faced with such a scenario it\u2019s imperative to ascertain where the cause of financial problems and if they are pointing towards operations \u2013 how do you change operations quickly but without adversely affecting long term sustainability?.<\/p>\n
To recover quickly you need to be confident in your current management team\u2019s capability. You need to ascertain if they have a plan in place, a proactive mindset and action orientated outcomes looking ahead to the future not looking back and laying blame on the past.<\/p>\n
It\u2019s important to understand the quality of management information (MI) they\u2019re using to make decisions and if they\u2019re planning based on facts or assumptions. With accurate MI managers should be able to easily identify areas where the biggest impact can be made and their planning and actions should reflect this.<\/p>\n
What answers are you getting from these questions?<\/strong><\/p>\n Success in management requires learning as fast as the world is changing.<\/p>\n\n