Organizational Change Is Fast With Alignment & Autonomy

Organizational transformation is a sore spot for many businesses who resist change. When evolution is desperately needed, they dig their heels in and cling to inefficient systems and outdated technology. This weakens their competitive edge, slows their go-to-market opportunities, and can wreak havoc internally. The end result is that these organizations remain stagnant, which is further fueled by a lack of internal alignment and frustration amongst employees who are not empowered to make decisions.

But how can organizations swiftly respond to change and come out on top? What are the key ingredients for business transformation success? Martin Danoesas, a partner of the BCG financial institutions practice, explains in a TED Talk how change is needed in today’s workplace. The old-school-way organizations were built meant “thinkers” were at the top of the org chart, and “doers” at the bottom. That model doesn’t hold up in the era of technological adoption and disruption.

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In M&A Deals, An Interim CIO Starts IT Systems Integration Planning Early

IT department leaders are usually left out of the early M&A meetings during the pre-merger or pre-acquisition phase. “IT systems integration” discussions do not include IT managers until it’s too late. This phenomenon is all too common when it comes to understanding the full scope of IT priorities and what each organization brings to the tech table to ensure successful M&A experience for employees and customers.

According to the 2018 Deal Value Curve Study, only 19% of M&A professionals surveyed believed there was sufficient due diligence on IT systems and assets before a merger or acquisition. This pitfall may stem from the fact that decision makers do not fully grasp the complexity of IT. Worse yet, they may fail to realize just how dependent the organization’s business goals are with IT systems.

Surprisingly, IT system integration is not top of mind during M&A discussions. That’s detrimental for two reasons:

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Poor System Integration & Company Culture Misalignment Leads to M&A Failure

In a merger or acquisition, discord of company cultures and disparate systems can cause the demise of a once-promising partnership. About 70% of acquisitions fail when post-acquisition results don’t meet pre-closing expectations. Many of these M&A failures are caused by poorly executed integration.

What’s surprising is that M&A failures are avoidable with careful integration planning and strategic post merger integration. Pre-acquisition, it takes a lot of forethought on how company cultures might clash and how their systems will integrate. Post-acquisition, it takes a ton of strategic elbow grease to rapidly align systems (and eliminate some), retain productive employees, keep customers, and make stakeholders happy.

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Signs Your Struggling Business Needs Help

We were having a conversation with an executive recently who shared about their experience parachuting into a business that was struggling with operational inefficiencies.

This executive, like many interims, kicked off the assignment by meeting face-to-face with the management team and employees to learn how the business functions, what’s working, and what isn’t. Their findings would turn into an operational roadmap of the business, where they would set out and implement a go-forward plan. When meeting with one team member and learning about what they did, the executive pointed to a process they had in place asking “why do you do that?”

 The answer: “Because we’ve always done it that way”

 (Alarm bells begin to loudly ring)

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How Turning Around a Company Looks Different Today

Turnarounds aren’t what they used to be.

Like a good spy movie, turnarounds used to center around a strong central figure making things happen. Turnaround stars and distress experts were born, like Stephen Cooper of Enron and Krispy Kreme fame.

In 1985 the Turnaround Management Association started as a conference of company turnaround specialists in Chapel Hill, ultimately creating a rigorous formal program and exam for Certified Turnaround Professionals.

“Back then the time frame for turnarounds was long,” Richard Lindenmuth, an executive who has completed 23 turnarounds over the years said. “There was bridge financing from banks that would facilitate a turnaround and bankruptcy was really used as a tool for restructuring a company.”

Times have changed. Many of the Fortune 500 companies from those days have merged or disappeared due to outdated technology, products, or services (think RCA, Blackberry, Zenith). At the same time, the way to turn around a struggling business has transformed, being driven by several factors:

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Latin Got Interim Right 2,000 Years Ago

My daughter eagerly accepted an internship at the morgue. Wait – how does she put it? The medical examiner’s office. Regardless, all I hear is morgue. Anyway, let’s move past the whole your-daughter-is-around-dead-people issue because here’s the interesting thing. They ask their interns to sign a statement agreeing to work pro re nata.

This was a new phrase for me: pro re nata. It is latin for “in the circumstances” or “as needed” or “as the situation arises.”

I believe the phrase is really a guiding light for the best interim execs around the world, because the best leaders operate as needs demand – pro re nata.

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All companies use information technology to some degree.

Great companies have CIO leadership on the management team to purposefully leverage information technologies in creative and sometimes disruptive ways – to grow business, produce faster than competition, enrich customer experiences, and make business transformation happen.

Many full-time CIOs dedicate their careers to one specific industry, and so their experience is vertically deep. Interim CIOs on the other hand, provide a unique perspective blending innovation and technology transformation across a variety of organizations and industries. They specialize in change, bringing an attractive depth-of-experience from a career of change management, while leveraging ever-evolving technologies. It is this change-leadership experience that is highly valuable to a proactive board or management team facing the challenge of business transformation, especially where information technologies are an enabling and differentiating factor.

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Poor Company Performance? Work on Mastering Nuance

The Olympics are the perfect example of the difference between champions who win gold, silver or bronze, and everyone else who goes home empty handed. The winner could be winning by just one ten thousandths of a second.

Why do you think you or I are any different in our work – if we could improve our performance just a couple percentage points, we’d stand out from the masses clear as day.

Steve Jobs was genius at nuance, the subtle improvement that could cause massively asymmetric outcomes in favor of Apple. Thirty companies had MP3 products delivering hardware, software and content for streaming music. The category was done. Then along came the iPod. Not major changes, but so much better!

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Scaling a Business Fast Is Hard for Entrepreneurs

I was having a conversation with company founders in a healthcare startup who made the comment: “we’re new to being entrepreneurs.”

That was their opening for free advice. It’s hard building and scaling a business when most startups fail or have a tough time and that’s not celebrated enough. Instead we just marvel at the likes of Mark Zuckerberg and aspire to be like Uber, Facebook, Google.

The truth is that most every new businesses – it’s a slog. A grind. A tough battle at some point in their existence, if not in fact for many years. Steve Ballmer of Microsoft had a phrase for this: the long middle. He said its fairly easy to be creative, think up a brilliant new product, and decide to charge forward. Then comes the middle: the long slog.

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The Best Organizations Have a Good Company Action Plan for the Future

How many owners or executive teams are truly confident that their organization is operating at it’s best? How many have a true action plan for the future? And how many of those can actually execute on the plan?

Donald Sull, a lecturer at MIT and an expert on strategy execution surveyed hundreds of companies on how strategy is executed and found that many lack agility or have difficulties adapting to market circumstances. In a HBR article he reported that most organizations either “react so slowly that they can’t seize fleeting opportunities or mitigate emerging threats or react quickly but lose sight of company strategy”.

These fears are echoed by executives across companies and industries.

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