Miller’s Monday Morning Message
presented by ACM Consulting Inc.
Andrew Miller on operational excellence, strategy, life balance and everything in between
Toronto – February 23, 2015
I recently spoke to a group of senior finance executives from the SGH chapter of FEI Canada. The topic was “How to turn a crisis into an opportunity.” I suggested that adversity and crisis in business is unavoidable, so it’s about how you react when adversity or crisis strikes. Do you view it as an opportunity, or do you shy away and play the victim? Here is the roadmap that I laid out for them.
First you have to identify the issue and its’ root cause. Then you develop a solution to resolve the issue. You then take steps to ensure it never happens again (preventative measures). Finally, you determine what impact you can make on the entire industry so that the same type of issue can be avoided in the future. Throughout the whole situation, you are communicating honestly and transparently, while staying at the forefront of the issue.
Legacies can be made or broken based on how leaders deal with adversity. You need to accumulate leadership currency by acting in a way that makes your employees, customers, shareholders, and business partners believe that you can handle the situation as effectively as possible. Often leaders can use these situations as an opportunity to become closer to customers, achieve new levels of performance, or create more loyal employees.
When you are presented with adversity, do you shy away or do you step forward and say ‘follow me’?
Listen to my podcast on why Operational Excellence needs to be redefined.
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Buy my book, Redefining Operational Excellence: New Strategies for Maximizing Performance and Profits Across the Organization.
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© Andrew Miller. All rights reserved. 2015.