Leadership skills, competence and organisational processes needed to lead a company from a decline to a sustainably successful turnaround
Thesis (MBA)--Stellenbosch University, 2014.
This research sought to provide insight into the key leadership skills, competencies and organisational processes required to lead a company from decline to a sustainable turnaround. The study focused on the four attributes of managing a turnaround: organisational values and culture, change leadership and organisational high performance. The research aimed to establish the role and impact of the above four factors, particularly in a corporate turnaround. It further assessed the role of leadership in ensuring the implementation of the four factors. The study revealed that turnaround leaders need to develop a new economy wave of values and a high performance culture as a foundation for creating ownership of the organisation’s objectives, as well as for the necessary alignment of the vision, mission and strategy. It was also noted that a corporate culture is an ever changing issue, hence leadership needs to continually ensure that the culture remains in support of the corporate objectives. The study also revealed the need for leadership to have the necessary emotional, cognitive and spiritual intelligence in order to be proactive in managing both the process and the effects of change. They need to have the transformational leadership abilities to drive the pursuit of organisational excellence as a means to achieving a sustainable turnaround. The research also noted the importance of communication as an integral part of each of the turnaround phases. Also of great importance were leadership attributes such as honesty, trustworthiness, sincerity and commitment, and the fact that leaders tend to believe that people will be driven by the rules and processes of business, forgetting that people gather the inspiration they need to be able to respond emotionally to a challenge, from their leaders’ demonstrated personal attributes.