Most executives will lead or be a part of a reorganization effort (a reorg) at some point in their careers. And with good reason--reorgs are one of the best ways for companies to unlock latent value, especially in a changing business environment.

But everyone hates them.

No other management practice creates more anxiety and fear among employees or does more to distract them from their day-to-day jobs. As a result, reorgs can be incredibly expensive in terms of senior-management time and attention, and most of them fail on multiple dimensions....