Topic: 2) The Consulting Trade
The term "interim management" connotes different things to people. Some view it as a niche separate from consulting where the interim manager takes responsibility for a particular aspect of the business for a short period of time. Others view interim management positions as turnaround-type positions for a firm.
Rather than define the term, I think its useful to view interim management in terms of fitting a role to the need at hand and minimizing side effects. On the one hand, a good purpose of interim management could be to bring in world-class resources immediately. One the other hand, a tendency may develop to make the company overly dependent on an interim manager like a crutch.
I have been involved in cases where an interim manager is used in conjunction with the immediate process of placing a permanent manager. If designed properly, such a structure can yield excellent results including faster time-to-market, creative tension, and a coaching and supportive environment for the prospective permanent hire. If the prospective permanent hire in mind does not work out, senior management can use the auditioning period as a means to determine what to do next, e.g., move the team players around a bit, let the evaluation period for the permanent hire go longer, or work with the interim manager more actively to get the permanent hire on track.
Steve Shu, Managing Director, S4 Management Group