Imagine taking over a company that was losing $17 Billion each and every year.
That is SEVENTEEN BILLION DOLLARS. Each year. And, every year.
Billions with a “B.”
This was the situation Alan Mulally faced when he was recruited away from Boeing to lead the failing Ford Motor Company.
While chairing a worldwide leadership meeting, Mr. Mulally looked at a dashboard that showed ‘green-lights’ on every department, division and product. He asked himself and then the attendees, “if everything is going so well, why are we losing $17B.’
Mr. Mulally spoke at the Stanford Graduate School of Business, where he discussed the turnaround efforts at Ford, which took the automaker from an annual loss of $17 billion in 2006 to its most profitable period in more than a decade.
Mulally explains that leadership takes courage, has a point of view about the future, and pursues it in the face of resistance and doubt in service of something great.
The entire video is excellent and well worth your time to watch
But if time is short, skip ahead to the 24:11 mark and watch the segment on building accountability (approx 9 minutes)