This will end the sad story of a successful person not having things in writing and operating with a non-transparent view towards his activities.
Chainsaw Al’s public track record was troubling in that he made his fame in laying off personnel by the thousands, but stockholders and Wall Street benefited because they knew if AL took over the show, profits grew at an amazing rate – (73% at Sunbeam – a fix they badly needed- and 900%+ in stock price at Lily-Tulip).
How could it happen? It happened because the stakeholders in Sears are a bunch of spineless Lemmings. The simply did nothing to stop Fast Eddy from achieving his PLAN of stripping Sears of all its cash and assets up to this point, and the payment of $5.2B for 245 stores and the acquisition of two key brands (Kenmore and Diehard) that by- themselves that only required a maximum of his own cash of $1.0B which he amassed through being a 48% owner of Sears as well as 48% owner of ELS.
The savvy Manager is constantly seeking the next area of growth and trying to see where he could be maximizing the opportunity for his business. The field for new products, job opportunities and career planning are endless.
Not only did the Good-Old-Boys in Japan replace him from his job at Nissan and Mitsubishi, now Renault Caved in under union and French government pressure, and will dismiss him from his job as Chairman at their next Board meeting on Thursday January 24th. On top of all this he’s been in jail since November 19thwhere he’s been held in isolation without access by anyone except his Japanese lawyer who knows which side his bread is buttered on – he can’t even get Carlos out on bail – or maybe it’s payback time for successfully messing with Japanese culture over the last two decades.
As a graduate of the Kellogg School School of Management at Northwestern University I finally had a chance to catch-up with my reading materials coming from various sources. When reading my fall 2018 issue of Northwestern magazine, I came across an article in the Student Life section with a title that caught my immediate attention – “Food for Thought” which focused on The Purple Pantry whose primary purpose was to provide groceries to NU students who don’t have enough to eat.
Lack of planning and a MANAGEMENT TEAM that lived in the past Resulted in Motorola being split into two companies – One of which seems to have some insight of what Managements responsibilities are when it comes to survival in a very competitive environment
My first experience of flying Southwest Airlines came early in 1999 when I missed my flight from Hobby Airport in Houston to Love Field in Dallas. More importantly, I had promised my son, who was playing football late that afternoon, that I would be at the game. I asked the A&A ticket agent about later flights, and she told me that there was this Lovey–Dovey–Airline leaving in a few minutes from a gate down the hall.
Joe will continue reading a book called “Managing Millennials for Dummies” Due to the fact that he has used our recommended four step process identifying the problem.
Recently the Postal Service reported a financial loss for the 12th consecutive year. What will the report requested by President reveal – declines in mail volume, out of sight costs for pensions and health Care obligations. Yet, prices went up by $.05 to $.55 per ounce for a first class letter.
My favorite woman entrepreneur was Evelyn Berzin who died recently at the age of 93. She started her career as an entrepreneur in a man dominated era after having identified several fields that had a dearth of women. On top of her identifying specific career opportunities, she saw the men of her generation going off to WWII.
Could it be, that LVMH practices all the factors that are described in our BLOGS to retain their position as the world’s largest luxury group by sales? They have identified that wealthy Millenials are shifting their money from goods to exploits. In light of this demographic and consumer shift to travel experiences and exploits, LVMH evaluated and confirmed their data. Once they had confirmed the data they acted quickly to avoid missing a market opportunity.
Can you tell me what accounts is your IRA or 401K is invested in? Or do you look at your periodic statements to see if your going up/down or staying even. For the last 10 years the statements looked pretty good following the year 2008 which destroyed many accounts by 30-50% in one of the worst stock-market performances in many a year. Recently our periodic look has seen some phenomenal growth, but then on the last day of November we erased all the market gains for 2018. Very few of us had done anything to anticipate this sudden shift and more often than not we took very little action in terms of adjusting our portfolio. Why is that?
In an era where smartphone apps have pretty much eliminated brokers, investing by or for young people has gone the way of the buggy whip.
1999 was a great year as Carlos Ghosn took over a very distressed Nissan Motors as Chairman of the Board and CEO. For me personally, it was great in that Mr. Ghosn brought back the “Z” a few years after he was in the job. I bought one (My 5th “Z”) a convertible and drove it for 11 years, selling it for a few thousand dollars less than I paid for it.
Pope Francis obviously didn’t read BLOG #20 where I indicated that his future as the Pope was questionable. His most recent actions indicate that the Vatican doesn’t place the same value on speed and openness with its Customers that the U.S. episcopate does.
When Allesandro Bogliolo became CEO in 2017 and replaced his predecessor who was in the job for only 22 months and simply could not meet activist investors time schedule of modernizing more quickly, a need made urgent by a streak of disappointing sales results that ended last year.
The Management Message is to focus your internal/external auditors and accountants on LINE-BY-LINE budget item analysis to avoid problematic situations that can arise and serve as a potential savings that translate into profitability. Our Federal Debt amounts to $21.7Trillion – In the last decade our elected Representatives have allowed the debt to grow four times the total debt produced since our founding 240 years ago. The following represents the spending of some of our Tax Dollars by the Fed. Govt.
It was the year 2004 when Fast Eddie merged –K Mart (In deep Trouble) with Sears an (Equally Troubled Company) – in a deal worth $11.5 Billion. Why would a savvy business person take part in this merger, one that involved personal investment on his part?
The sales and marketing silos very often operate at cross- purposes, most likely so do other parts of the company. The only boss in business is the Customer, and management can’t be working in their silos without having a clear understanding of this vital reality.
The President of Harley in the 1980’s was assigned to keep the company from financial ruin and to keep one of America’s oldest and strongest brands alive. He passed recently at the age of 90, but 40 years ago the Marketing and Financial Management folks kept insisting that it was the Japanese that were causing the problems that Harley was experiencing. Vaughn Beals decided to ask the four questions covered in Blog #2 and found out that “The Problem Was Us” in the form of inefficient factories and slipshod quality.
The key Management lesson to be learned from this Blog lies in the fact that you don’t ship any more goods until the Customer pays outstanding bills. This will require a very strong Credit Manager to battle both an array of Internal Managers and External factors such as Customers who want to be trusted “or else”. The fact that you can lose a large and longtime Customer is a reality, and will require the intervention of top Management between the Customer/Sales/ and Credit.
Joe Madden the Cub’s Manager created a culture of being laid-back and indicating that ”TWO OUT OF THREE AIN’T BAD” when playing weaker teams in the league . The reference recognizes the Meatball Series of Music, but Theo Epstein will be changing that culture, and replacing it with a degree of “urgency” that will be challenging to Joe and the Cub’s players.
- Refuse To Accept Personal Responsibility
- Fail To Develop People
- Try To Control Results Instead Of Influence Thinking
- Join the Wrong Crowd
- Manage Everyone the Same Way
- Forget the Importance Of Profit
- Concentrate On Problems Rather Than Objectives
- Be a Buddy, Not a Boss
- Fail To Set Standards
- Fail To Train Your People
- Condone Incompetence
- Recognize Only Top Performers
- Try To Manipulate People
At a time when job openings exceed employees and 17 million Gen “Z er’s” are entering the workforce, with 50 million following within the next 10-20 years. It is important for employers to understand that they will have to be adaptable to the changing needs of the “Zer’s” and make those changes in order to maximize the productivity of the employee.
Joe Madden isn’t exactly a worrier, as many fans have noticed through this latest long stretch of games. Towards the end of July, Joe was observing Anthony Rizzo who was undergoing some problems during the earlier part of the year. He was off to a rough start batting in the .230’s as late as July.
Trust has to be earned by management. If trust does not exist in the Church, Government, at Work and amongst Friends, and most importantly Customers as it pertains to business, where can a person turn to. Amongst the biggest loss of trust in Management has happened at the Catholic Church who for nearly 100 years covered-up sexual crimes committed by Priests, Bishops, Cardinals and even the Pope.
Simply put, the liquidation of Toys ‘R’ Us can be blamed on Management which reflects a degree of inability to manage a business along with a lack of industry knowledge, high evidence of incompetency and clear indication of total disregard for Customers, employees, stockholders and suppliers who extended credit and needed TRU to stay in business. Management made out alright because as always they cared for themselves.
Urban Meyer was my favorite football coach (78W & 3 L record at Ohio State) and I loved his intensity and focus on Managing the Ohio State football Program. So when I heard that the school’s board was launching an investigation of him and placing him on paid administrative league pending recommendations for disciplinary measures, my reaction was disciplinary action for what? Evidently Coach Meyer had allowed an assistant coach to stay on staff after it was learned that the assistant coach was being accused of domestic violence.
In 256BC Petronius stated that he learned that we tend to meet any situation by re-organizing, and what a wonderful method it can be for creating the illusion of progress while producing confusion, inefficiency and demoralization. Traverse back 2500+ years and the Managers job was still to surround himself with Eagles (Recruit), train & develop, develop plans and implement the appropriate steps (SUN TZU’S 13 Points –Blog #16). Yes, Petronius could not have known of General Motors, IBM or Sears Roebuck. Yet, today. Many of our businesses are very much like the huge military legions or the city-states of his era. It is amazing how closely related is the importance of thinking, planning and implementing that covers a period of 2500+years. Change takes place often, so make sure you and your Managers are not only thinking a great deal, but communicating a great deal to build TRUST, not only about how your company should re-organize— but WHY.
SUN TZU in 500BC was looking for a job as a General working for a War Lord to head up the army. In an interview with a War Lord, he was challenged to show his capabilities to lead by having to line-up and march 30 of the War Lord’s concubines in a military manner. SUN TZU accepted the challenge and asked the two ladies who headed up the group to get the ladies ready to march – they were laughing and carrying on knowing that the War Lord was in their corner as he had previously done.
In Riga, Latvia a small Baltic country and the Laundry’s name is ABLV Bank. This laundry accounted for dealings with North Korea, Iran, Russia and numerous former corrupt clients such as the Columbian cocaine baron who moved $697M to U.S., and the gas mogul who had to flee from Ukraine as the Pro-Russian government was being overthrown in 2104, and the ABVL helped move Billions of dollars through nine shell companies.
Is it any wonder why all our manufacturing started to be outsourced all over the world as increases in GP% caused the demise of quality and overshadowing of all the costs associated with outsourcing especially if done on a global basis. The higher the GP% the higher the Management bonuses – they were committed to their success and not the success of the Customer.
One of the key responsibilities of Management is to recognize the future role of Demographics that are inevitable and can’t be affected by short term implementation of programs or strategies that will change the basic structure of a society. We just have to look at China and confirm the impact of a one child per family birth policy. On my recent trip to China, I saw a lot of older people and a definite shortage of 20-40 year olds. While the rule to have more children was recently enacted, it will take at least 20+ years to make all the adjustments necessary for a COUNTRY with 1.4 Billion people and growing.
Recruiting is not a primary responsibility of the HR (Human Resources) department. They can be part of the process but the key responsibilities of establishing the Initial Profile , conducting all Interviews and the Final selection steps have to be the responsibility of the Manager for whom the potential candidate will work for.
If you are not identifying the role that block chain technology can (the present) and will play (future) with your internal and external processes aimed at serving the Customer and sustaining the continued growth of the business, you are already falling behind the rapid changes taking place in the environment surrounding your business. Don’t be a defensive manager, be a leader through leading the way to knowledge.
Without a Plan your business efforts will be like a sailboat sailing across then Ocean without a rudder. Every thriving business is lead by a smart and powerful group of managers, who sail along the seas of success and know where they have been, where are they now and where they are going. They are leading, not drifting and being blown in every direction by the wind – that will take charge – if you allow that to happen.
My objective is to provide ideas that clearly spells out a challenge to managers on a daily basis based on personal business experiences garnered over a 40+ year career in managing a wide variety of reports across a wide range of responsibilities.
Here are the 10 words for the Month of June 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Why would the buildings owner upgrade the 83 elevator shafts and replace 97 cabs over the next five years – it provides evidence of excellent management. These elevators have not had improvements nor replacements in machine rooms, cables, cabs and controls since 1974 when the 110 story building was completed.
Here are the 10 words for the Month of May 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Before we start our Journey of Success, please complete a SWOT analysis of your past, existing and future business ventures as well as consider completing one on you to get a realistic evaluation of yourself. SWOT – stands for Strengths, Weaknesses, Opportunities and Threats – an extremely effective tool to provide a base for a realistic evaluation that will lead to the next step – planning – a process which is so essential to every business.
Very few Manager compensation plans or annual expectations are based on Long Term Gains. Instead their focus is based on short term periods such as quarters or annual achievements. If you add-in a Manager Turnover rate and you can start seeing points that forego opportunities for making required changes. That’s why we don’t see too many Manager Compensation plans based on five year growth, or the development of new products that eventually result in new markets and the on-going growth of the business.
One has to ask the question of Folgers coffee a 167 year old company that has been successful up to the last couple of decades. Why do we state the It Starts and Ends with Management? The answer lies with a company such as Folgers Coffee where management could not have been watching the Competition, gauging Demographics, conducting Consumer surveys, acquiring or merging with like Companies, and continuously focusing on a reactive Marketing effort aimed at Folgers maintaining their market share.
Very few Manager compensation plans or annual expectations are based on Long Term Gains. Instead their focus is based on short term periods such as quarters or annual achievements. If you add-in a Manager turnover rate, you can start seeing points that forego opportunities for making required changes.
More than 40 States are asking the US SUPREME COURT to abandon the rule that has been in place during the recent growth of e-commerce. The reason for this mandate is very evident – a source of Revenue for each of these States that won’t affect the Resident who has witnessed significant increases in taxes across the board.
Many employees have little or no TRUST in their Managers due to a herd mentality on the part of the Manager to follow the latest “How To Idea” and the complete focus on themselves and their achievements rather than the individual they are managing.
Here are the 10 words for the Month of April 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
The definitive guide for every sales manager who wants and must raise the bar for his or her sales reps. The Little Red Book for Sales Managers is the simplest, most effective sales management tool ever created. John Golde’s more than four decades of experience in sales and sales management helped him create this one-on-one […]
Supersizing Your Tips is the essential handbook for every server and restaurant owner. Filled with field-tested strategies, John Golde and Raymond Aaron draw on their extensive, global sales experience to turn tired and bored servers into accomplished, articulate, guest-focused salespeople.
It begins with a simple change in attitude: servers are salespeople. There is no rocket science […]
The need to have an organized approach in place when faced with a challenging situation will result in having the right answers to these FOUR QUESTIONS – you might look at these questions as too simple and not reflecting the management challenges you are facing, however, don’t judge until you have put them to the test.
The following organization chart sets the stage for you the Manager to structure your department and hopefully your organization according to the power you transmit in walking-the-walk and talking-the-talk. Too many organizations are talking about the need to serve the Customer, but fall short in their Silo driven environments in communicating this commitment to every employee in the organization and most importantly to the Customer.
Here are the 10 words for the Month of March 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Here are the 10 words for the Month of February 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Here are the 10 words for the Month of December 2017 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Here are the 10 words for the Month of November 2017 that will help you continue to paint such a desirable picture in the minds of your Guests, that they will order all your recommendation:
Here are the 10 words for the Month of October 2017 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations
Here are the 10 words for the Month of September 2017 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Here are the 10 words for the Month of August 2017 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Here are the 10 words for the Month of January 2018 that will help you continue to paint such a desirable picture in the minds of your Guests that they will order all your recommendations.
Are you one of the Sales Managers whose reports are turning in low performances in terms of making quota? For every 100 Sales Reps anywhere from 40- 51% of them are not making quota translating into compounded negativity build up, mediocrity becomes acceptable and costly turnover turns into a rampant factor deeply affecting the bottom line. It would be easy to blame the quota setters for issuing unobtainable objectives, but the real reason can be found in the fact that in every organization it Starts and Ends with Management.
Get a job – where? – As a Server in the consistently growing Restaurant Industry. Combine this opportunity with a refresher course outlining the ten tipping skill sets you might want to adopt and can be found in “Strategies for Supersizing Your Tips” which can be ordered right on this website!
The Server position is often mistaken for a low level position that more often than not serves as a temporary in-between job or one that is seriously taken as a career opportunity. “SUPERSIZING YOUR TIPS” was written from a perspective that if a “Sales” approach were applied to the job a person could develop a meaningful and rewarding career. The following 10 reasons provide some key facts for you to reconsider the Server position as a viable avenue for you to experience personal and business success.
This BLOG represents the first effort at sharing concepts and ideas to continue the growth of every Servers income. Servers are in a Profession that operates on the basis of TIPS which creates an environment for each of them to earn as much as they want to without having any limits set by restaurant owners or set by others. The only limit is represented by the Guest Service you are willing to provide. The greater the service the greater the TIPS.