being firm and fair. If you don’t establish limits early, you will live to regret it.
into her new role as head of the industrial products division of a large multinational company, she believed the division had enough strength to continue to achieve double-digit earnings growth. Growth had been strong over the past four years, and
Consider taking some time to summarize your own rules of thumb for making a successful transition before you read further.
What are the defining features of each of the four STARS situations? In a start-up you are charged with assembling the capabilities (people, funding, and technology) to get a new business, product, or project off the ground. In a turnaround you take on a unit or group that is recognized to be in trouble and work to get it back on track. Both start-ups and turnarounds involve much resource-intensive construction work—there isn’t much existing infrastructure and capacity for you to build on. To a significant degree, you get to start fresh. But both require that you start making tough calls early....