MARK BARNES: Poor decisions by stubborn leaders are to blame for the worst institutional failures
There are any number of work-in-progress turnarounds in play in SA’s own backyard
Turnarounds will always be around. Perhaps it’s just the mindset I’m in, but an increasing number of turnarounds and business rescues seem to be required. Times are tough. Turnarounds cover the full spectrum, from local stores to industries, major corporations, political parties and even sovereign countries. Failure, to the point where a turnaround is the only option, is often the consequence of incremental decay, tiredness and neglect. These may be easier to tackle than other causes, such as product obsolescence, irrelevance or simply a mistake. The worst failures, though, are the result of poor decisions, made practically deliberately by stubborn leaders. In an increasingly competitive global landscape, success is measured almost in real time. People who are feeling comfortable are confused. However well established products or services may be, management comfort zones lead to brand arrogance, which has disastrous consequences. Watch out — open the door just a little and the wanna...
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