Again Qantas will be the subject of Academics in Uni's and Research Journo's as to :
HOW NOT TO BE TAKEN OVER BY A PRIVATE EQUITY COMPANY.
Its again a total failure in Management #101.
Read any Management text book and overlap the Qantas strategy ....the result = an unmitigated FAILURE. ie:Post 1992.
As you read thru the Chapter headings -just think thru the examples of inepititude that have taken place. I won't write them in-I'll let you fill in the blanks.
- Act Strategically---------------
- Make sound decisions----------
- Leverage innovation-----------
- Manage Globally-----------
- Engage and inspire its people---------
- Build Talent-----------
- Promote collaboration & teamwork----------
- Foster open communication-----------
- Manage conflict-------------
- Increase cultural competence------------
- Focus on customers-------------
- Manage and improve process--------------
- Manage Change---------
- Lead courageously-------------
- Establish trust---------------
- Show adapatability-----------
- Learn continuosly------------
- Set up an integrated IT support program---------
- Manage IR effectively----------
- Sound succession planning----------
There you have it.
Why is this so?
When so many talented people come into Qantas with the dream of making a difference and being proud to work for an Aussie icon ( pardon the jingoism) ......only to have all that ripped out of them to the point that you do the bare minimum due to nil recognition and lack of any respect for management.
What puzzles me though is , imagine what our profit figures would be
IF we had some positives linked to the above 20 points. Granted a $1b pretax profit ain't half bad......BUT
.......what if??????
I just saw Costello on the Sunday program declare that the Takeovers Tribunal panel was set up by him. He said that if the actions on Friday night were deemed by the Tribunal to be "UNSATISFACTORY" then the Tribunal will need to make the appropriate decision.
Ok then we'll see if this becomes yet another topic for the Academic's to put in their research papers:
WHEN.......
NO MEANS NO!