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Turnaround: Crisis, Leadership, and the Olympic Games Kindle Edition
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- LanguageEnglish
- PublisherRegnery Publishing
- Publication dateFebruary 13, 2012
- File size768 KB
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About the Author
From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From the Inside Flap
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.
Product details
- ASIN : B00761XNUK
- Publisher : Regnery Publishing (February 13, 2012)
- Publication date : February 13, 2012
- Language : English
- File size : 768 KB
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Not Enabled
- Word Wise : Enabled
- Sticky notes : On Kindle Scribe
- Print length : 434 pages
- Best Sellers Rank: #1,986,512 in Kindle Store (See Top 100 in Kindle Store)
- #260 in Olympics & Paralympics (Kindle Store)
- #445 in Winter Sports (Kindle Store)
- #749 in Olympic Games
- Customer Reviews:
About the author
Mitt Romney is an American businessman and former Governor of Massachusetts. Romney was a candidate for the Republican nomination in the 2008 United States presidential election.
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In late 1998, the Salt Lake Organizing Committee, the organization responsible for organizing the 2002 Winter Olympic Games, was rocked by a scandal. It was revealed that the SLOC had improperly given bribes to certain members of the International Olympic Committee as a way to help win Salt Lake City's bid to host the 2002 games. The resulting scandal forced the resignation of SLOC's CEO and Mitt Romney was installed in his place in early 1999.
The book primarily recounts Romney's experience during his three years as head of the organizing committee. His main goals were to re-establish credibility with the public following the scandal and making sure the games were secure financially. Romney notes how difficult it could be to make sure they had enough money to do everything they wanted. Not only did they have to carefully look over the budget to find savings and make sacrifices on luxury items, but they also sought ways to find new revenues and new sponsors.
Most of the book is from Romney's perspective and what an executive does as head of an Olympics. He talks a lot about dealing with corporate sponsors and governments both for money and for organizational assistance. For example, security was always a big deal at the Olympics (especially since games in 1972 and 1996 saw terrorist attacks), but this became even more important following 9/11. Not only were law enforcement officials of Utah heavily involved, but police officers from other states and the federal government were required to make sure the games were secure.
I found this book to be an interesting look at the business side of how an Olympics is pulled off. There is very little on the athletes themselves in this book and their triumphs, but is instead focused totally on the business side. I would recommend this book to those interested in such a story.
Mr. Romney highlights the steps he needed to take to get the SLOC back on its feet. As he writes: "It is easy to cut costs. It is a lot harder to do it smart." Raising revenue was also a challenge, since the government provided only security and transportation costs (which, being a few months after 9/11, the government was all too happy to provide). Revenue mostly came from sponsors, whom were sometimes reluctant to be affiliated with a committee known for scandal. In addition, wealthy individuals in Utah were asked for donations. Despite all these difficulties, the SLOC was able to get back on its feet and organize a very successful event.
After a successful turnaround, the SLOC finished with a $56 million budget surplus. $10.5 million was returned to the federal government which, as Mr. Romney speculates, "may have been the first time that has ever happened." This book will make you realize the tremendous challenges and the unique complexity in organizing the Olympic games. My only issue with the book is the large amount of names Mr. Romney throws out there, making it hard to follow at times. However, the book overall is definitely worth reading if you are interested in what goes into producing a successful Olympics and a look into the mind of the man who made it happen.
I enjoyed reading this book because it was well-written and interesting. I recommend it to everyone.