Look at what happened when Firestone finally recognized the obstacles that were preventing it from succeeding.
In 1980, Firestone’s board brought in a CEO known for his prowess as a turnaround artist.
The new chief executive wasted no time.
He closed five of the company’s 14 domestic plants, severed its longstanding relationships with several customers, replaced the bottom-up capital-budgeting process with a strict top-down approach, and filled key management posts with a crew of outsiders.
(See the insert “The Inside-Outsider as Change Leader.”)