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Lessons from a Turnaround Expert

HBR IdeaCast

NOTE

Culture is Key: Assessing Business Viability

When evaluating a struggling business or project, the initial step involves consulting with insiders to gather insights on current issues. It is crucial to identify whether the company's underlying culture is flawed, as a toxic or bankrupt culture can severely undermine the viability of the organization, even if it is not facing financial bankruptcy. This cultural diagnosis is essential for determining the potential for turnaround and whether the effort is worth pursuing.

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