Abstract:
Modern business is an increasingly competitive and dynamic environment which presents leaders and managers new challenges. The ability of managers to change the performance trajectory of a team or organisation is at the centre of the study and is presented under the topic of Turnaround Leadership. The literature on business turnarounds is primarily focused on the strategies and methods of achieving a turnaround. This research paper seeks to expand upon the existing literature by focusing primarily on the nuances and substance of the individual behind the turnaround, the Turnaround Leader. This study aims to identify the leadership components and critical behaviours which form the substance of the Turnaround Leader. By mapping and understanding, the components of Turnaround Leadership, it is hoped that contemporary managers can equip themselves with the leadership behaviours most conducive to the implementation of their own performance turnarounds as the need arises.
The research was undertaken using a qualitative, exploratory approach. This approach was specifically chosen due to its ability to unlock new insights into modern Turnaround Leadership. The data collection was achieved using semi-structured, in-depth interviews with seven Turnaround Leaders and seven focus-groups with their respective teams resulting in a total of 14 data points. The individuals interviewed were chosen due to their history of achieving a turnaround performance within the business they operate. The sample included individuals from a broad demographic, job-title and industry.
The key findings generally agreed with and expanded upon, the existing literature. Key observations included a new understanding of the differences between the self-perceptions of leaders relative to the lived-experiences of their followers during performance turnarounds. Through this, meaningful insight into the prevalence and role of perceptions versus reality in the practice of Turnaround Leadership was achieved. From this, the Turnaround Toolkit model emerged and illustrated a practical behavioural-based approach for managers looking to initiate and pursuing a turnaround in performance from their team
