Step 1 : Define and Identify
Before moving into the delivery phase it is necessary to define the objectives of the programme. This is the single most important factor to ensure the success of the Turnaround. This must be done with the company's Executive Level and will map against helping to deliver the targets set out in the Business Plan. It is vital that all members of the Executive Team agree to the objectives and communicate the positive nature of the programme.
The objectives are split into three main categories; immediate; mid-term and long term.
The immediate category includes those objectives that will help add instant value to the company as well as help mobilise the programme and communicate a positive message to the employees, shareholders and other stakeholders. This category will usually have a 3 month delivery window.
The mid-term category continues to build on the immediate objectives for the remaining 9 months of the current year. Long term is then moving into the second year of the programme. Whilst most objectives should be delivered inside a given year, it is best practise to reinforce the implemented changes with long term objectives.