Few stories arouse as much interest as those involving turnarounds. Stories where entrepreneurs or leaders have managed to script new business strategies to ensure that companies which have run into troubled times are brought back onto the path of sustained profitability. Very often, such turnarounds are undertaken by way of a mix of tough measures to keep costs under control and smart business strategy. Such an effort is currently playing out at low-cost carrier SpiceJet, which, not so long ago, was threatening to drop off the radar and become yet another airline to bite the dust, joining the likes of Vijay Mallya’s Kingfisher Airlines. But timely intervention by SpiceJet’s co-founder Ajay Singh—who had earlier moved away from it when the Marans of the Sun Group took charge—seems to have saved the day for the airline.
(This story appears in the 30 October, 2015 issue of Forbes India. To visit our Archives, click here.)
I always wonder how within the same environment one organization shows profit and the other shows losses, and some companies manage to turn around. Its all about intent, strategy and implementation. People are the same every where but its the honest intent of leadership and the strategy that makes a difference. Within the same industrial environment if Kingfisher shuts down then there is more to find out the fishy stuff. Whether its a question if intent, or competence. Good news that some Indian professionals are taking up challenges to turn things around instead of whining about the system.
on Oct 21, 2015