During intervals of doubt and rapid environmental change leaders are often met with some very hard strategic choices. Being among the most difficult are the decisions that could result in fundamental strategic change in the firm’s culture, strategy, systems, and structure. They include the decision to make strategic investments in services, services, or processes and the formation of new ventures. They are the decision to spin-off a significant division also, merge with or be obtained by another organization, seek personal bankruptcy safety, and take on the hard work necessary to lead a proper change in a turnaround situation effectively.
Sometimes referred to as “fork in the street” decisions these kinds of options often create tremendous tension and issue within top management teams and Boards of Directors. Whatever path the firm selects the potential risks are high for the CEO and the management team and the email address details are far from certain. Before a business can make a “fork in the street” decision usually the first question that needs to be addressed is “how did we get here?
” Answering this question may not be easy as there could be many variables and factors that inter-relate with each other. Some of these factors the leadership team could control while others were uncontrollable. To get to the primary of the problem, the inquiry has to try to set up the link between your historical assumptions that inspired decisions and the accumulated actions replies and results that lead to the current situation.
The strategic evaluation of the situation will likely yield a simplified and imperfect representation of the complexity that actually been around when decisions were being made. “Fork in the street” decisions will also require the management team to make assumptions about the near future and what changes they believe may occur. This will be especially difficult as judgments and estimates will be imprecise and surprises are inevitable.
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It may also be difficult to identify and quantify the risks associated with each one of the options that the company has in mind. There is no “one size matches all” that catches the rich array of situational factors which may be within a “fork in the road” decision. Nonetheless, it is often essential for the CEO to connect with and influence a multitude of stakeholders that will be influenced by their decisions. Their failure to do so will most likely lower their chances of attaining the results they are seeking.
In this program we will establish a holistic understanding of the key causes of the “fork in the road” decisions in several major companies. The decisions led to a fundamental change in the companies’ culture, strategy, structure, and systems. This course highlights the richness and difficulty of the factors influencing individual and group decision making with the realities of leading change in complex organizations. A recurring question we will ask ourselves is whether a general manager’s predisposition toward resolving the dilemmas confronting them consistently in a single way or another makes a difference in his or her ability to lead a business to exceptional performance.