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Lessons from a Turnaround Expert

HBR IdeaCast

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Navigating Turnarounds: Culture and Strategy

This chapter explores the essential elements in diagnosing struggling businesses and their potential for recovery, highlighting the significance of internal culture over mere financial factors. It discusses the complexities of executing turnarounds, the importance of effective communication, and the strategic balance between understanding competition and exploring innovative opportunities. Personal experiences, particularly from Marvel, illustrate the emotional challenges and decisive leadership necessary for fostering a positive team environment during significant organizational changes.

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