The former Bain CEO should take a page from Peter Drucker's playbook
November isn't just a time for general elections. It is the window when the private sector commemorates late management thinker
For a certain Harvard Business School MBA and former chief executive of
It starts with Drucker's famous, fundamental frame, "What do we really mean when we say 'our market'"?
While the profile of leaders that have orchestrated turnarounds is diverse, the problem set that befalls established companies is relatively small: poor management, a sea change within the industry, challenging macro market conditions. Similarly, the attributes of the turnaround itself are equally defined, starting with an exit of non-core businesses and renewed emphasis on essential products.
As he contemplates
Second, and by extension, Drucker famously argued that the successful executive focuses on a single task. A decision must be made as to "which efforts are a priority and which are less important." The only question," counseled Drucker, "is which will make the decision -- the executive or the pressures."
In the early 1990s, conventional wisdom held that the mainframe was losing out to the PC. But
In the wake of weekend events, conventional wisdom from the political class is calling for a Romney counterpunch. We already have heard the rhetorical cannons fire on topics ranging from
But conventional wisdom may prove diverting. A true turnaround, with durability through November, is to be found in a single task: Making the case for Mitt Romney. Does he understand my challenges? Can he fix the economy? Can he beat Obama? The clouds in
Finally, Drucker argued for "making strength productive." It is the third essential insight from Drucker to enable a turnaround of
The early 1980s brought an economic sea change to the country. The Reagan tax cuts, deregulation and a stable dollar ushered in a decade where GDP growth was well above 4 percent. As Gingrich is fond of sharing from the rostrum, the macroeconomic history is compelling.
The missing piece of his account is that
Republicans not only like that narrative, but they are hungry to hear Mitt Romney tell it. It is time for him to start talking not in sweeping platitudes about the genius of free enterprise, but in a practical, tangible way about his time in private enterprise. The effective leader makes strength productive.
Drucker once wrote that in a half-century of consulting across multiple verticals, he never once met a natural. Romney has liabilities on the balance sheet, but he has learned the critical competencies of business leadership and they have never been relevant to the national conversation.
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Management Tips Mitt Romney Can Use to Save His Campaign | Politics
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