When Greg Brenneman joined Continental Airlines, the company was plunging toward its third bankruptcy in a decade. Little wonder it had churned through 10 presidents in as many years. Brenneman and CEO Gordon Bethune produced one of the fastest and most unlikely corporate turnarounds ever. Above all else, Brenneman explains in this HBR interview, it was common sense and simple logic. They created a model that works when you have little time and less money—as well as when you have more of both.
File your flight plan and track your progress. Strategic clarity is particularly important when time and financial resources are limited. The plan also included key performance measures to track internally as well as against competitors for example, monthly on-time performance, mishandled bags, customer complaints. Clean house. Brenneman replaced 50 of his 61 top officers with 20 new individuals. Ask the customer the right question. To figure out which products to make, you first have to ask your best customers what they will pay extra for for example, safe and comfortable airplanes, good food at mealtimes.
Let the inmates run the asylum. We lit a fire of urgency. Pretty soon, we were unstoppable. I will never forget my first flight from Dallas to Houston on Continental Airlines. It was a hot, humid day in May Crisis management.
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