Charles Francus is a retired manufacturing executive and turnaround consultant. He previously held certifications in public accounting (CPA) and production and inventory management (CPIM).

Before stepping into the role of a turnaround expert, Charles’ career included working in both staff and management positions at both Fortune 500 and middle market companies. Positions included Operations Analyst, Sales Manager, Controller, CFO, Vice President of Manufacturing and Engineering, Vice President of Operations, Division President, and Subsidiary Managing Director (CEO). Businesses he directed or helped direct ranged in headcount from 500 to 4,000.

During his 15 years as a turnaround consultant, he helped financially distressed businesses return to profitability. Charles observed that the foremost problem a distressed business’s CEO and management team had is that they did not understand the business. This was true in spite of the fact that many of the team members had worked in the business for many years. He, therefore, initiated each engagement with a campaign to help the team learn their business. Subsequently, ideas and actions for true improvement begin to flow like water.

Charles, also, had the opportunity to review the operations of several profitable businesses. The level of understanding of the management teams, in all but one of these businesses, was not much different from that of turnaround clients. They were successful financially because they were in the right business at the right time. There was the same opportunity for operational improvement in these profitable businesses as in the financially distressed businesses – but, “understanding the business” was the first ingredient to getting there.

The moral of this story is that before people can improve on something they must first understand that something. In this discussion guide, the thing to be improved on is America’s economic system. Hopefully, this guide will help American citizens understand the American economic system in a way that empowers them, as voters, to make the changes necessary to improve the economic quality of life for all Americans.