Date Added: Jan 2010
When a sports team loses too often, the typical reaction is to fire the coach. Similarly, when a company is performing poorly, the board of directors often elects to fire the CEO. Regardless, the action is intended to convey that those in charge are addressing the problem. As often as not, however, the coach or CEO turns out to have been a scapegoat. The losses continue when the replacement is on board. For businesses, there's another course of action that frequently works out better for the organization and for all stakeholders. That is to bring in an expert in crisis management, a turnaround management professional.