Ridgefield, CT, August 27, 2011 --(PR.com
)-- Peter Cuneo, ex-turnaround CEO for Marvel Entertainment, and seven other companies, describes some of the secrets to successful turnarounds to Robert Reiss, host of "The CEO TV Show" in this week's episode. In this episode Cuneo describes eight different things that any CEO facing a corporate turnaround should know, the first being leadership.
Cuneo highlights how the CEO in a turnaround situation must have a vision and must communicate that vision constantly, ensuring employees understand their role in fulfilling the vision. Inevitably every turnaround brings with it an atmosphere of uncertainty, Cuneo says the CEO's #1 role is to clearly state his vision, set an objective, and keep everyone in the company focused. Getting the right people who can buy-into the vision and work in an uncertain environment is also critical.
"The media always makes out that the CEO is absolutely omnipotent - that they are totally responsible for what's good in a company, and they deserve total blame for everything that goes wrong. Of course, reality is completely different: the truth is CEOs always need great people to support them if they are going to succeed," Cuneo emphasizes.
The second secret to successful turnarounds is execution according to Cuneo. "Strategy is actually very easy - it's not hard to figure out what has to be done: and it isn't just cutting costs. In fact, that's probably the biggest fallacy about turning around a business. The real key is performing every day on the little things - getting your product out the door to your customers to satisfy them - that's what really matters."
Cuneo also addresses understanding the competitive environment and points out this means not letting your competitors gain an advantage that puts your business at risk.
Near the conclusion of the interview on the CEO TV Show, Cuneo talks about the special importance of major strategic decisions such as moving manufacturing to Asia, and particularly to China: Cuneo says, "When all of your competition has moved their manufacturing to Asia to cut their costs in half, you have to, too, or you'll soon be out of business. So I've actually moved manufacturing jobs to Asia - particularly China - and that has saved jobs in the United States."
To learn more about Cuneo's secrets to successful turnarounds, go to www.ceoshow.tv to view the latest episode.
The CEO TV Show, a service of The CEO Show (www.ceoshow.com), is a weekly program based on a series of video interviews with top CEOs who have changed the fabric of American society hosted by Robert Reiss. In addition to being available at the website above, it is also hosted on a number of affiliate websites, including ACG New York, Vistage, Entrepreneurs Organization, Small Giants, Senn Delaney, and others. The CEO TV Show is sponsored by IBM, Senn Delaney, Sodexo, and Inter-Continental Hotels.
For more information, contact: Patric Hale, General Manager, "The CEO Show" (email@example.com) www.ceoshow.com, www.ceoshow.tv.