Turnaround: Crisis, Leadership, and the Olympic Games

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9780895260840: Turnaround: Crisis, Leadership, and the Olympic Games
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The head of the 2002 Salt Lake City Winter Olympics organizing committee describes how he assumed the leadership of the troubled organization and turned it around to present one of the most successful Olympic Games ever.

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Mitt Romney, Governor of Massachusetts, built a career turning around troubled companies. As the CEO of Bain Capital and Bain & Company, he and his firm helped propel the success of hundreds of companies, from venture start-ups to the world's largest corporations. In 1999, the Salt Lake Winter Olympic Games Organizing Committee turned to him to take over and run the Salt Lake Olympic Games. Romney was reluctant-and with good reason.

Sullied by scandal, on the brink of financial disaster, and with federal investigators, bankers, and the press at its door, the Salt Lake Organizing Committee's senior managers admitted the organization was paralyzed.

But Romney had too much American patriotism to let it become a catastrophe for his country. So he accepted the biggest turnaround challenge of his life.

In Turnaround, Romney reveals how he tackled the seemingly insurmountable obstacles facing the Salt Lake Winter Games. In Turnaround, you'll learn how Romney and his management team:

* eliminated a financial crisis and delivered a profitable Olympic Games;
* built a culture of excellence that inspired gold medal performances from the employees;
* skillfully won the support of government officials, corporate sponsors, local residents, athletes and the international Olympic movement.

With Romney at the helm, and through the teamwork, tenacity, and creativity of the staff he assembled and supported, the organizing committee succeeded against the odds in producing one of the finest Olympic Games ever-a proud moment for America, a great installment in Olympic history, and a valuable object lesson in what effective management and leadership can do.

Mitt Romney is the Governor of Massachusetts. Before he was elected Governor, he led the Salt Lake Organizing Committee as its President and CEO. In 1984, Mr. Romney founded Bain Capital, a successful venture capital and investment company, and later became CEO of Bain & Company. An active member of his church and in charitable activities, Mr. Romney and his wife Ann have five sons, five daughters-in-law, and seven grandchildren.

From Publishers Weekly:

It's not well remembered, but the planned 2002 Salt Lake City Olympics were scandal-ridden and in complete disarray until Romney took over as CEO in early 1999. In this management primer, he makes his rescue job seem very simple: he came in, displayed a positive attitude and hired competent, committed people, and the result was a successful Olympics that few had thought possible. That same attitude is displayed throughout this book, as Romney is quick to credit those around him for the games' success. He's thorough as he details how he revamped the budget, kept costs down and marketed the games to sponsors. His self-deprecating honesty is refreshing and appealing. As he writes after emphasizing the importance of selling the games: "I know there are people out there who love to sell, but it is far from my favorite thing." He's also honest about his criticism of the Salt Lake City leaders who were tainted by their efforts to buy votes from International Olympic Committee members to get the city the games. The same traits that make Romney, now the governor of Massachusetts, an unobtrusive leader don't always serve the book; some readers will want to see more sparks fly. But those looking for a training manual in how to run a high-profile organization will be rewarded.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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