A Cautionary Tale
The following case, like all stories, is idiosyncratic in its details. But the fundamental challenges this firm faced are becoming the norm today.
As you read, keep this question in mind: does any of this seem familiar?
The firm offers professional services. It was third in market share in its industry. Intensified global competition along with rapid advances in technology could have pushed it into fourth place, which is not a good place to be. The CEO retired and the board brought in someone from the outside who was seen as a visionary and had developed a superb reputation in a smaller firm in a closely related sector. Once on the job, the new CEO immediately set up a study group, which he ...