{"id":716,"date":"2019-07-15T14:00:36","date_gmt":"2019-07-15T14:00:36","guid":{"rendered":"http:\/\/www.hofferplastics.com\/?p=716"},"modified":"2025-11-13T22:22:58","modified_gmt":"2025-11-14T04:22:58","slug":"mid-year-turnaround","status":"publish","type":"post","link":"https:\/\/hofferplastics.com\/leadership-values\/mid-year-turnaround\/","title":{"rendered":"It&#8217;s Mid Year 2019. Time for a Turnaround?"},"content":{"rendered":"\r\n<h2 align=\"center\">It&#8217;s Mid-Year 2019. Time for a Turnaround?<\/h2>\r\n<p>July is the heart of summer, but also marks the onset of the second half of the year.\u00a0Much like making resolutions in January, the second half is a great time to reassess and get back on track for achieving personal and professional goals.\u00a0Stay cool, and go for it! <img loading=\"lazy\" decoding=\"async\" title=\"Businessman hand touching 2019 trend over blur office background, banner, 2019 business strategy annual plan, success in business concept\" src=\"http:\/\/www.hofferplastics.com\/wp-content\/uploads\/2019\/10\/iStock-1057830844.jpg\" alt=\"Businessman hand touching 2019 trend over blur office background, banner, 2019 business strategy annual plan, success in business concept\" width=\"1500\" height=\"700\" \/><\/p>\r\n<h2>Ford Motor Company Turnaround<\/h2>\r\n<p>Alan Mullaly, acknowledged as one of the world\u2019s best CEO\u2019s, is credited for the masterful turnaround of the Ford Motor company over the past decade.<\/p>\r\n<ul>\r\n<li>From a record loss of $12.7 Billion during the recession, to a Net Profit of $6.6 Billion by 2010<\/li>\r\n<li>A stock price that has since increased more than 1000 fold<\/li>\r\n<\/ul>\r\n<p>This was accomplished without filing for bankruptcy or accepting a government bailout.\u00a0<strong>How did he do it?<\/strong><\/p>\r\n<h3>Four Keys to a Successful Turnaround<\/h3>\r\n<p><strong>Make a plan, then make sure everyone knows it<\/strong><\/p>\r\n<ul>\r\n<li>Ford\u2019s Plan Vision and Focus:\u00a0every new vehicle had to be best in class<\/li>\r\n<\/ul>\r\n<p><strong>Get everyone together, and make sure their interaction is respectful<\/strong><\/p>\r\n<ul>\r\n<li>&#8220;Never make a joke or try for humor at someone else&#8217;s expense,&#8221; Mulally said. &#8220;In a high-stakes environment, everyone needs to feel safe.&#8221;<\/li>\r\n<\/ul>\r\n<p><strong>Reward Honesty<\/strong><\/p>\r\n<ul>\r\n<li>Change the culture from \u201cfear of failure\u201d and hiding problems, to embracing openness.<\/li>\r\n<li>When the first company leader finally opened up and shared some of the internal problems, Mulally responded with literal applause<\/li>\r\n<li>\u201cWhen the truth gets buried beneath a thousand years of sleep, time demands a turnaround.\u00a0And once again, the truth is found\u201d.\u00a0\u2013 George Harrison<\/li>\r\n<\/ul>\r\n<p><strong>Put People First<\/strong><\/p>\r\n<ul>\r\n<li>&#8220;I told [the dealers]\u00a0they were the most important stakeholders and that we&#8217;d work with them as true partners,&#8221; he said. Mulally had the Ford employees stand and face the dealership owners and tell them out loud that they loved them.\u00a0&#8220;Make it a self-fulfilling prophecy,&#8221; he told them.<\/li>\r\n<\/ul>\r\n<p>* Source: INC. <img loading=\"lazy\" decoding=\"async\" title=\"ford-graph\" src=\"http:\/\/www.hofferplastics.com\/wp-content\/uploads\/2019\/10\/ford-graph.png\" alt=\"ford motor company sales graph\" width=\"460\" height=\"398\" \/><\/p>\r\n<h2><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.hofferplastics.com\/wp-content\/uploads\/2019\/10\/alex-with-staff.jpg\" alt=\"\" width=\"800\" height=\"532\" \/>Mid-year (and other) reflections from Alex Hoffer, Vice President, Business Development, Hoffer Plastics Corporation<\/h2>\r\n<ul>\r\n<li>Forget all the fancy definitions of leadership. A leader is being someone others want to follow. If you look back and no one is following, you aren\u2019t a leader (at least yet).<\/li>\r\n<li>You have time to do what you are not doing. Time isn\u2019t the problem, prioritization is.<\/li>\r\n<li>Do Three Good Things . . . to change your mindset and your mood.<\/li>\r\n<\/ul>\r\n<h2>Helpful Links and Resources:<\/h2>\r\n<ul>\r\n<li><a href=\"http:\/\/www.hbr.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.hbr.org<\/a><\/li>\r\n<li><a href=\"http:\/\/www.baldinbusiness.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.baldinbusiness.com<\/a><\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s Mid-Year 2019. Time for a Turnaround? July is the heart of summer, but also marks the onset of the second half of the year.\u00a0Much like making resolutions in January, the second half is a great time to reassess and get back on track for achieving personal and professional goals.\u00a0Stay cool, and go for it!&hellip;<\/p>\n","protected":false},"author":5,"featured_media":717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,10,24,37],"tags":[],"class_list":["post-716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-innovation","category-leadership-values","category-manufacturing-excellence","category-people-culture"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.3 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mid-Year Turnaround | Hoffer Plastics<\/title>\n<meta name=\"description\" content=\"Mid-Year Turnaround: How re-energizing strategies and goals at mid-year can revitalize performance and productivity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hofferplastics.com\/leadership-values\/mid-year-turnaround\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It&#039;s Mid Year 2019. 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