Organizational leaders must fulfill many roles and responsibilities. This may include mission critical tasks such as establishing corporate goals and developing operational strategies. The primary objective of effective organizational leaders is to ensure the best possible outcomes for all interested stakeholders including shareholders, employees and target consumers. These high-level executives establish and oversee the completion of the initiatives that result in desired outcomes for the organization. Effective leaders also listen to feedback from consumers and professional peers to produce those positive outcomes.
Guiding America’s Organizations From a Leader’s Perspective
In the United States business arena, nearly 70-percent of all organizational leaders view strategic change as a mission critical objective. Over half of all executives believe that filling internal leadership vacancies is an important priority. Nearly 40-percent of leaders feel that bringing new high-level talent up to speed as fast as possible is vital for organizational success, and an equal segment of the group believes that real employee engagement is a significant tool in facilitating the achievement of organizational objectives.
Throughout time, various organizations have experienced financial and operational difficulties. However, adept leaders have used their expertise and knowledge to restore profits for the firms that they represent. The following 5 narratives represent a few of the finest inspirational comebacks the have taken place in America’s corporate landscape
Inspiration 1: Hostess Twinkies
After its introduction to consumers in 1930, Hostess Twinkies grew into an internationally known and well liked treat. Despite this, the firm acquired $700 million in debt by the year 2004 leading to the shuttering of the company in 2012.
Under new ownership in 2013, the firm experienced several setbacks, including two bankruptcies, five chief executive officer turnovers, 36 plant closings, 5,600 abandoned delivery routes and 19,000 employee layoffs. However, another investor acquired the brand, delivering a much needed infusion of cash and fresh leadership ideas. Today, Hostess operates at a considerable profit, producing more than one million Twinkies daily that represent more than 80-percent of the company’s total revenue.
Inspiration 2: Marvel Universe
The late 90’s was a turbulent period for the Marvel Universe, during which time CEO Peter Cuneo took the helm of the organization. By the year 2000, the company held more than $250 million in debt. The revival of the firm started in 2000 with a $4.3 billion acquisition by The Walt Disney Company.
Under Cuneo’s leadership, Marvel introduced a new licensing model that commenced a turnaround for the struggling company. The new mission included a renewed focus on print publishing and embraced new opportunities such as intellectual property licensing and toy manufacturing as well as partnerships with video game designers and film studios. To date, the company has grossed more than $11 billion in profits.
Inspiration 3: Nintendo
Nintendo launched its first gaming console, the Nintendo Entertainment System (NES), in 1983. Since then, the company has released new systems regularly, resulting in international sales of more than 703 million consoles and nearly 4.5 billion video games. Despite this success, the Nintendo hit a stumbling block with the failure of their GameCube and Wii U consoles. However, the company made a strong comeback with the introduction of the Nintendo Switch, introduced in 2017, selling nearly 3 million units during the first month of its release. Nintendo staged the commendable comeback by producing updated versions of popular games already in their catalog and working with third-party vendors to produce new titles.
Inspiration 4: LEGO Group
The world famous LEGO brick launched in 1958 and grew in popularity quickly. Around 1998, however, the firm hit a financial low, acquiring a large deficit and laying off more than 1,000 workers in 1999. Nevertheless, the iconic product was named the “Toy of the Century” in the year 2000, but this acclaim did not stop the firm from losing nearly 30-percent in annual profits – a sum totaling nearly $223 million – by 2003. In response, the company initiated a “back to the core” marketing mission that restored focus on their original LEGO brick product. In 2015, the release of the LEGO Movie bolstered the company’s profits by $469 million, and the original LEGO brick generated profits of nearly $6 million.
Inspiration 5: Delorean Motor Company
In 1977, John Delorean revealed his classic DMC-12 sports car at the National Automobile Dealers Association conference. However, legal troubles and underperforming sales abruptly brought an end to operations in 1982. In 1995, entrepreneur Steve Wynne acquired the brand. Under his ownership, the company now produces reproductions of the DMC-12 in Humble, Texas. The new builds of the iconic sports car retail for less than $100,000.
Effective business leaders develop and implement plans that reverse the fortune of companies that are struggling to survive. Their expertise, knowledge and skill are vital tools that aid in fueling the growth and development of the United States economy.