Week 3

Question 1

Stakeholder management

Answer 1

• No surprises
• Think straight - talk straight
• Communicate
• Be open
• Manage the information flow
• Manage exceptions and reality
• Negotiate effectively
• Manage the people
• Appoint a stakeholder manager

Question 2

Faillure factors from turnaround

Answer 2

• Passive attitude management and stakeholders
• No speedy and accurate operational recovery (too much focus on retrenchment)
• Important stakeholders not involved
• Insufficient transparancy regarding financial situation and proposed turnaround
• Not enough effort towards bringing in risk bearing capital (equity). (Too much focus on extra debt.)

Question 3

Why do turnarounds fail? Kotter

Answer 3

• Not establishing a great enough sense of urgency
• Not creating a powerful enough guiding coalition
• Lacking a vision
• Undercommunicating the vision by a factor of ten
• Not removing obstacles to the new vision
• No systematically planning for and creating short-term wins
• Declaring victory too soon
• Not anchoring changes in corporate culture

Question 4

The importance of communication in turnarounds Pajunen K

Answer 4

• The more continuing support of governing stakeholders to more probable is organisational survival
• Frequent and open communication between managers and stakeholders (enhance support thus survival)
• Personal relationships between managers and stakeholders
• Management’s unlocked brokerage position between stakeholders
• Consensus on long term goals among stakeholders
• Stakeholders association of management with good firm performance

Question 5

Waarom is ward een sukkel?

Answer 5

• Hij is een batiboy
• Hij is niet goed in het omturnen van bedrijfen
• Hij vindt de simmelweis reflex moeilijk
• Hij lijdt aan confirmation bias
• Jan Adriaanse heeft nachtmerries over ward