What a mess! One of the stalwart blue chip companies seems to have lost its way. Leadership and thinking differently about the business is more critical than ever. Where is their leadership bench strength? How did they get into this situation? How will Meg Whitman do? Does she provide a fresh perspective? Only time will tell. A few thoughts for Whitman:
- Reset expectations for internal and external stakeholders
- Declare a turnaround in and focus the thinking and action in 3 key areas –
- Strategy (Where the company needs to play and how they can win) — This includes opening the minds to people inside the organization through the rigor and discipline of assessing what is needed through the eyes of the customer and consumer
- Financials (Cost Out — Capabilities In) — Build a mindset of taking cost out and reinvesting a portion of the savings into organizational capabilities
- Innovation (Building on the Financials) — Functional Excellence in cost and capability for each function in the organization will create a new way of thinking about the organization
If Whitman is quickly about to change the thinking — she will build the leadership bench and not only change, but set the organization up for sustained success.