...OTHER BOOKS BY D. A. BENTON Lions Don’t Need to Roar How to Think Like a CEO The $100,000 Club Secrets of a CEO Coach HOW TO ACT LIKE A 10 Rules for Getting to the Top and Staying There CEO M C G R AW- H I L L SAN FRANCISCO LISBON WA S H I N G T O N , D. C . MADRID AU C K L A N D D. A. BENTON N E W YO R K B O G OT Á MILAN C A R AC A S LONDON NEW DELHI MEXICO CITY SINGAPORE MONTREAL S A N J UA N SYDNEY T O K YO TO RO N TO McGraw-Hill abc Copyright © 2001 by Debra A. Benton. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-137459-0 The material in this eBook also appears in the print version of this title: 0-07-135998-2. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales...
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...Previous CEO Leaving When an employee leaves without anyone really knowing what happened the speculations start to fly and before you know it people start taking these rumors as the truth. So when you have a CEO step down abruptly you usually jump to the conclusion that they did something wrong and were asked to step down and this is not always the case. The quickest way to stop the rumors is to address the event that occurred for the person to leave. This is an easier task for Target unfortunately in light of the recent credit card data heist which was noticed on a global scale there wasn’t a whole lot of light to shed. Something really bad had happened and they looked into it and found and corrected the error and the CEO while not directly responsible for the data heist felt responsible and stepped down. Confirming this would end the need for rumors and then also allow a platform to announce the company’s standpoint moving forward and their plan to replace the CEO. Plan for Replacing the CEO When there is a plan in place for replacing the CEO this may not be all employees need to know but upper management would need to know that there has been forward motion on this topic and how to respond to employees should they ask a question about what’s happening next or where the company is what with selection, granted this is not typical. A general announcement should be given to show that the company is looking for a new CEO and what they are looking for in the next CEO and where...
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...operate a record label. For the sake of this paper I will call this record label Armstrong Records. My job title at Armstrong Records would be CEO/A&R. As the CEO I would be in charge of all of the day to day management decisions and coming up with the labels’ long and short term plans. As one of the A&R team members I would help in talent scouting and overseeing the artistic development of our recording artists. The general objective as the CEO would be to help artists grow by recording them, promoting them, managing them, and making profit for my company and the artists. (Knab, 2010) I would want my label to be a smaller more independent label with a handful of artists, that way I could focus more attention on each artist. There are many of duties and tasks for a CEO of a small independent label. The first duty is to decide the general direction of the marketing; I would probably go into more of an indie rock and/or singer song writer genre. I listen to a lot of different styles of rock and singer songwriters and feel that’s what I would have the best chance of relating to. Smaller label CEO’s have their say in the marketing and tour operations of the business. I would enjoy figuring out the best tours and shows for my bands to be on and which would be the most profitable and cost effective. (Knab, 2010) Other tasks for me as the CEO would be to find a good distribution deal and to hire and recruit staff. A good distribution deal is a very important part in being successful...
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...Case Study 7-2 Ran Niu 1. What benefits has BIOCO realized from its use of balanced scorecards? A balanced scorecard has four perspectives, Customer perspective, internal business perspective, Innovation and learning perspective, and financial perspectives. By using balanced scorecards, BIOCO knows what the customers needed is. It helps BIOCO to fulfill customers’ need better. For internal business perspective part, BIOCO can clear the corporate vision and strategy. BIOCO can adjust the strategy according to the pervious balanced scorecards. Also the balanced scorecards link everyone in the company and enhance the communications between each other. Meanwhile, Scorecards detailed the company’s business goals to everyone and guide every employee to work for the business goals. It will help company to meet customers’ expectations. Also balanced scorecard help BIOCO find its disadvantage and find a way to solve the problem. By helping meeting the customer expectations and improve the company itself, BIOCO can achieve a better financial principle. All of these are the benefits for BIOCO from using the balanced scorecards. 2. Do you think the BIOCO way was useful in helping the IT department align its goals with that of the company? Why or why not? In BIOCO way, the company’s vision and strategy are translated into a long-term corporate strategic plan, which in turn is used to generate the corporate strategy map. I think it help the IT department align its goals with it. In order...
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...While reading these two chapters from two different CEOs, I wasn't surprised to find very similar ideas and strategies between them. The bottom line is business sense in the right way. Both CEOs have incredible business sense that they could walk into any company and make it better than before. The difference between the two is how they communicate with the reader. You have Michael Dell, CEO of Dell Computer Corporation who speaks mostly common sense. This chapter was an easier read for me. Then you have Andy Grove, CEO of Intel who speaks more on the senior management level and adding common language of everyday people in the mix. Michael Dell speaks of cutting out the middleman to ultimately increase your bottom-line, while Andy Grove mostly discusses keeping up with change in your business. Dell's approach is simple, knowing what your customer wants in order to keep them happy and satisfied which in turn can only help your business. I would say that in Dell each customer "owns" a piece of the company. There are no distributors, the customer calls in tells you exactly want they want or what they think they want and by having someone answering the phone that is knowledgeable about the product can guide the customer in the right direction for perfect end item. I say what a great idea, always keeping the customer involved so you keep making what the customer wants. How can a company that is product driven fail with that type of attitude? Grove's success comes from...
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...programs that can help with what you want your future occupation to be, and there are plenty of resources out there that can help me with my future job. My short-term goals are to excel in multiple classes like algebra and computers. I want to excel in algebra because you need to know different types of math to code. You need to learn about functions and coordinates, so algebra is important. I would also like to excel in computers class because we are learning to code in computers right now, and it will be important...
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...people that you love, doing what you love, it doesn’t get any better than that.” — Warren Buffett The four motivational theories that were analyzed showed a similar element on how leaders can motivate their employees. It assumed the expectations and responsibilities of an employee in a company. Out of the four motivational theories, Warren Buffet has applied McGregor’s Theory Y to motivate his employees. Buffett strongly believes that trust is the main element to motivate employees. Buffett gives empowerment and responsibilities to his heads for them to take ownership over their work. He doesn’t always focus on earning money because the heads of his companies are almost millionaires; Buffett pays his people equally and fairly so that his employees don’t feel ripped off and put their trust in Buffett too. As he wants his managers to act like owners, therefore he treats his managers like owners. Buffett wants his employees to paint their own “picture” and find their own ways of doing things, he doesn’t want to stand behind his employees and tell them to “add blue or red into their picture” because then the employees would lose their creativity. This would also motivate the employees to produce a better work as the employees know they've got Buffett’s trust. I like Buffett’s way of motivating his employees as he used a very humble approach to his people. Everyone should speak up and share their ideas and creativity to one another and here is what Buffett is doing. In order to...
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...Published by Bader & Associates Governance Consultants, Potomac, MD BOARDROOM BRIEFING CEO selection: getting it right By Sharon O’Malley By the time board Chairman Freddie Burton convened a 12-member search committee to recruit a new chief executive officer for St. John Hospital and Medical Center two years ago, the facility had been through six CEOs in as many years. This time, he vowed, the Detroit hospital’s trustees would take their time deciding on a new CEO and would make that decision using a process agreed to up front by the facility’s 24-member board of trustees, its medical staff and its parent system, St. John Health. • Developing a profile of the ideal CEO, based on a position description, a plan for the hospital’s near-term future and the priorities for the CEO’s first 12 to 18 months. • Identifying and evaluating candidates. “We seized the opportunity to learn from our mistakes.” Freddie Burton • Making the selection. • Negotiating compensation and other terms. • Supporting the transition. “We seized the opportunity to learn from our St. John Hospital & Medical Center Some boards endeavor to manage the search mistakes,” says Burton, a Wayne County, Mich., process themselves, but more often, they select probate judge, who watched a prior search committee of five an outside search firm to facilitate the process, identify trustees and one doctor select a CEO whom the full board did candidates who fit the ideal profile and lend an objective, not endorse...
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...dream job. Although I'm not sure what job I will have, I do know that it will be in the field of business. I love the idea of getting dressed up to go to an office. I enjoy being able to work with other and also working alone. Furthermore, competing for a position is fantastic and goes so well with my personality. I like the concept of survival of the fittest. I aspire to become the CEO of a major company. Initially, my aunt was the one who brought to my attention of pursuing this career. When I was in middle school I went to work with her one day and fell in love with just the atmosphere. Being inside a building around several people but also having your own little space was spectacular. In contrast, being with my aunt also brought to light that I don’t want to work for a computer company because I don’t want to work on a computer trying to fix other peoples computer problems. That is boring to me. I want to work for an established company that is well known either nationally or internationally. Moreover, being a business person, specifically a CEO, you have to be able to take charge. The idea of power excites me because you won't have the entire baggage of owning a business or starting a business however, you still have to make sure everything is going well and everyone is doing their job. I am also comfortable with moving around to get the job done. While I was playing AAU basketball I was traveling all across the United States so I know that I am comfortable with flying...
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...control anything. The career involves numerous of task. CEO requires anyone to have a business degree and some work experience with business. The career has a decent amount of money per year if you work a famous company. The career must has a certain sets of skills and abilities. The career requires amounts of education and work experience with businesses. The education of becoming CEO must require at least a bachelor degree in business administration, finances, commerce, management science, or public administration education. (careerinfonet.org) If you have a MBA (Master of Business Administration Degree), the chance of being hired as a Chief Executive Officer increases. The career must involve some background on work in business experience to be a CEO.(learningpath.org) Some of the best colleges that offer business education are Stanford, Harvard, University of PA, MIT, and Yale University (U.S. News).When I become a Chief Executive Officer, you need certain equipment and technology. Some of technology that are needed for...
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...described in Scenario 9C is one that I am sure it is very difficult to be in. Beth is in a terrible position because if her boss is starting to waver on whether or not he wants her to send the information to the MCO then she may start to feel like her job is in jeopardy if she doesn't do it. The thing that she has to do is find a way to make the MCO happy and still maintain patient privacy and not put herself as well as the hospital at risk. The big ethical issue in this scenario is that the MCO wants her to photocopy the entire medical record of the patient and do not have an authorization form. Legally, you are not supposed to send things to anyone that the patient does not authorize. I am actually a little shocked that the CEO is even entertaining the idea of having her send it anyway since it would put the entire hospital at risk if it became a problem with the patient should they ever find out. I agree with Beth's decision to refuse the request of the MCO. Putting her job and reputation at risk just because someone wants to get cranky and yell at her over the phone would be a bad idea. Not to mention that the entire hospital would suffer over this decision and not just herself. Also, insurance companies as well as hospital's and HIM professionals are required to follow HIPAA laws, so they should know better than to send a request like this without a signed authorization form from the patient. I think that the best way for Beth to protect patient privacy as well as...
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...How businesses are organised to achieve their purpose P3 Organisations such as Tesco and Apple are organised in structures, they are organised in structures because it is to divide up work; so that the workers know what they are doing and to establish lines of control. In the organisational structure the lines connected together tells us that they report to someone that they need to report to, for example the board of directors has the highest power in the business. In the organisational structure a line is connected from the board of directors to general manager. Tesco’s purpose is to sell products from their supermarket, also to advertise what they would sell. Also what they offer in their stores. Tesco Organisational Structure This business is broken down into sections, the Chief Executive Officer (CEO) is in charge of the four important sectors of the business of Tesco. Director of Finance, Director of Human Resources, Director of Marketing and the Director of Operations. Director of Finance – this department takes care of the budget, they work with all departments to plan and manage their budgets. Director of Human Resources – HR department takes care of the customers’ needs and their problems. Director of Marketing – Marketing team work with the management and the sales team, the director of marketing oversees development and implementation of support materials and services for chapters in the area of marketing. The Director of Marketing works with the board...
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...Leadership Challenge MGT615 AIU September 9, 2013 Abstract This paper will begin by offering the CEO suggestions on how to manage the change in the company. It will examine the differences between managers and leaders. It will discuss whether this CEO is attempting to manage or lead the company through the change. It will propose ways he could deal with managers who are opposed to the change. Lastly, it will discuss the problems that may arise from his actions and decisions and further recommendations will be provided. Leadership Challenge A leader that has observed the lack of flexibility and slow decision-making process will want to make a change in their company when he feels the company is not serving customers well. This leader will want to move to a team environment and move all decisions down to the lowest possible level. The leader can do this by creating a team-based empowered organization which will allow more participate from the employees. The current managers may resists this change since they are accustom to the “command and control” style and may feel the employees are not ready for the change. The leader should understand that this change will bring resistance. He can take a hold of this situation by understanding that he should talk to the managers and employees about the upcoming changes before making them. He should help the managers and employees to understand this change will benefit them. He should understand that resistance to change...
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...Memorial Healthcare Corporation CEO: The Dream Job Ashley Dean BUS520 Organization & Leadership February 17, 2013 Jama Rand Everyone has a dream job. Growing up as a child I can remember be asked, “What do you want to be when you grow up?” My answer, “A doctor!” Like many other young boys and girls I wanted to be what I had seen on television or what was popular, to this very day I still here children choosing nurses, singers dancers, and even the President as their preference of profession for their adult life. As little children you have no clue of the direction that life will pull you in or situations that may happen in your life that may cause you to change your goals in life. A little boy may have had the dream of being a basketball player, say a few years later he lost a loved one because of a fire in his home. When that little boy got a little older, he then wanted to be a firefighter. That little boy had a life changing event, that caused him to want to help others, and maybe he can help save someone life, so another little boy want have to experience losing a loved one in a fire. I always knew that I wanted a job in the healthcare industry. Every job that I maintained was always in healthcare, starting out as house-keeper in a hospital, and now working as a financial counselor for individuals that suffer from mental health issues, chemical dependency and/or substance abuse. My goal and dream job would be to become CEO of a major health care corporation...
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...What other information might you ask of the CEO to prepare for the meeting? Other information I would need from the CEO to prepare for the upcoming meeting would be 1) the organizations current strategy and future strategy given their want to expand nationally and globally - I’d need to understand the organizations current strategy and future strategy so I could tailor my presentation because no two organizations are the same and the process to implement PPM within the organization would be very dependent on the originations strategy. (Levine, 2005) 2) A breakdown of how the organization is setup and how teams operate within the organization - I’d want to know how the organization is setup and how teams operate so I could get the CEO and board of directors an idea of what it would take to implement PPM within their organization. 3) A breakdown of the current projects in the portfolio – I’d want to know what their current portfolio consists of so I could align it against their current and projected strategy and show which projects make sense to the organization and which don’t. 4) A breakdown of past projects which were successful and a breakdown of the projects that were not– I’d want a breakdown of project success and project failure so I could us PPM to break down how each project might have been more successful and how each failure might have been a success or why it wouldn’t have been allowed to be selected in the first place. 5) A breakdown of the criteria for how projects...
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