Use the STARS model to match the right strategy to your situation
- In a startup, assemble resources to get the business off the ground
If you’re joining a startup, recruit a competent team, clearly define the organization’s agenda, and build a strong foundation. Use the available personnel together with financial and technological resources to create systems and structures that channel organizational energy toward a clear vision.
- In a turnaround, work quickly and decisively to get the organization back on track
If the business is in serious trouble, make decisions that will reenergize demoralized employees and stakeholders. Time is of the essence, so make effective and substantial changes such as closing some plants, laying off workers, or cutting unnecessary projects. Be prepared to make tough calls with limited knowledge and then adjust as you gain more information.
- In an accelerated growth situation, be prepared to scale your operations
The organization is beginning to hit its stride, so put in place structures, systems, and processes to aid in the rapid expansion of the business. Focus on hiring and onboarding employees that match the internal culture of the group. However, be wary of expanding too much too quickly.
- If realigning an organization, revitalize the business as quickly as possible
The organization is drifting toward danger yet most employees may be too complacent to see it. Therefore, use facts and figures to show stakeholders the company’s weaknesses. This will create urgency and convince people that change is necessary. Introduce benchmarks and assessments by external consultants to help make your case. You can also carefully restructure the top management team to bring in people who will fight for change. Focus on changing systems, skills, and workplace culture.
- If in a sustaining-success situation, be prepared to take the organization to the next level
Taking leadership of a successful organization means living in the shadow of a former leader and working with a strong team. Therefore, refrain from making too many changes or embarking on too many new initiatives. Seek a deep understanding of what has made the business successful and position it to handle future challenges so that it keeps prospering.
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