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Corporate Renewal, Turnaround Strategy

Turnaround strategy enables senior managers of underperforming companies to understand the critical causes of poor results, in order to stem losses and restore growth. A well-crafted turnaround strategy leads the organization to quickly achieve its full potential. Typically, this involves removing costs, restructuring finances and redefining strategic objectives. Turnarounds often call for building a stronger management team, making acquisitions implementing operational improvement, often including Lean Manufacturing or Six Sigma or devising an exit strategy.

Change Management is Like Potty Training

by Pete Abilla on September 30, 2010

My son turned 2 years old in June 2010. By most standards, barely a 2 year old isn’t ready to be potty trained. I beg to differ. The other day, after breakfast, I placed him on the toilet, hoping so badly he would go poopy. After 30 minutes or so, he finally went poopy and [...]

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Case Study: Improving Sealy, Matress and Bedding Products

by Pete Abilla on June 16, 2010

This article shows a case study of how Kohlberg, Kravis, Roberts & Co. (KKR) was able to create value at Sealy, the world’s largest manufacturer of mattresses and bedding products (not Luxury Mattress), through the implementation of Lean Thinking in the enterprise. One key element is the implementation of Standard Work, which allowed for comparable [...]

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Case Study: Improving a Medical Device Manufacturer

by Pete Abilla on June 14, 2010

This article shows a case study of how Kohlberg, Kravis, Roberts & Co. (KKR) was able to create value at Biomet, Inc., one of their portfolio companies through the implementation of Lean Thinking in the enterprise. KKR acquired Biomet, Inc. in 2007 1.  Biomet designs and manufactures orthopedic medical devices.  At the time of acquisition, [...]

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Case Study: Improving the Automotive Aftermarket

by Pete Abilla on June 10, 2010

This article shows a case study of how Kohlberg, Kravis, Roberts & Co. (KKR) was able to create value in one of their portfolio companies through the implementation of Lean Thinking in the enterprise. In 2005, Kohlberg, Kravis, Roberts & Co. (KKR) acquired ATU, an automotive aftermarket company in Germany.  ATU was acquired for 27.2 [...]

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Ring Fence Operational Improvement

by Pete Abilla on June 8, 2010

Many might argue against my claim, but I firmly believe that Private Equity and Leveraged Buyouts add value to the world economy.  More and more, acquisitions by Private Equity firms are focused on creating long-term value, rather than financial engineering.  That is very healthy. Of course not all Private Equity firms can be described as [...]

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Role of Lean Thinking in Private Equity

by Pete Abilla on June 5, 2010

When a Private Equity firm considers buying a company, the role Lean Thinking plays depends on the stage of the buyout deal. But, Lean Thinking is appropriately placed at the following steps: Lean and Pre Acquisition Due Diligence Lean and Post Acquisition Short Term Improvements Lean and Enterprise Broad Organizational Improvements Due Diligence The main [...]

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Corporate Renewal, Waste, and Turnaround

by Pete Abilla on June 3, 2010

Having seen and helped various businesses in various industries, I agree with Carl Icahn’s assessment on corporate waste 1: I have observed first-hand the sheer amount of waste and inefficiency at a few companies that I have taken over. For instance, when I took over a rail freight car company called ACF during the 1980s, [...]

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Complacency, Urgency, and Change

by Pete Abilla on November 22, 2009

John Kotter makes a good case that urgency is the key ingredient in any organizational transformation.  Conversely, the lower the urgency, the higher the likelihood that the firm will collapse or fail or not transform in a way that will enable it to win in a changing marketplace.  Kotter does something else that is interesting: [...]

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