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Volvo’s turnaround over the last decade offers a great example. Under new ownership (Volvo was sold to China’s Geely by Ford in 2010), the Swedish automaker decided to transform its product line by becoming a premium player. Developing what we call an “M&A strategy for talent” is one way to overcome this.
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He describes his “shock and awe” approach (my terminology) in his excellent book The Lean Turnaround , where he takes the company through several week-long kaizen events. Trying to improve productivity in a process by 25% on first try is (generally) a recipe for failure and frustration—notwithstanding Byrne’s success with that approach.
Doug identified “Inspiring Trust” as his number one mission in his 10-year turnaround of Campbell Soup Company, where his efforts resulted in cumulative shareholder returns in the top tier of the global food industry, and among the highest measured employee engagement levels in the Fortune 500, particularly with his leadership team.
This will allow you to move through the creation of a system in a linear fashion. Your objective is to design a factory production line that includes three areas: raw material receiving, processing, and finishing. How do you produce the fastest turnaround time for new orders given a certain number of employees in a work shift?
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