Industry Consolidation: Not as Simple as it Looks

Transition uncertainty also weighs on the customers. It’s hard to have employees, concerned about their jobs, working with wary or confused customers.

How does one deal with this? Starting out with a vision for what that newly merged company looks like in a marketplace at least five years from now, and then directing the reorganization toward that end. If cuts are coming, better to make them swift and hard so that the new business gains a footing, even an uncertain one, early. There’s nothing worse than a constant parade of “black Fridays” where people look in their check envelopes for the legendary pink slip. Providing timetables with goals reduces some of the anxiety that can undermine productive work. Admitting mistakes, or even admitting that there will be mistakes, certainly helps. Getting the focus off the company and onto the clients and the competition is essential. For that, speaking and acting with clarity and decisiveness is necessary. When your own company is in upheaval while navigating a changing marketplace, the presence or lack of management talent becomes evident. Is your business up to the task?