Abstract :
When corporate performance is seriously lagging and the solution isn´t to recruit a heroic new leader nor to continue reorganising and downsizing, what options are left? The author discusses how BAe underwent a cost cutting operation and a massive culture change programme following a #1 billion write-off in mid-1992 to emerge as leading player in the market. The author discusses the vision statement, leadership development, the launch of a virtual university, and shareholder perceptions.
