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Dyson and the art of making quick decisions
October 16, 2019 | Financial Times | by John Gapper.

ambiguities CEOs  confirmation_bias decision_making  Daniel_Kahneman Dyson  halo_effects  hard_choices  HBR  humility indecision  intuition leaders James_Dyson mistakes Ram_Charan  tough-mindedness    uncertainty
ambiguities  CEOs  confirmation_bias  decision_making  Daniel_Kahneman  Dyson  halo_effects  hard_choices  HBR  humility  indecision  intuition  leaders  James_Dyson  mistakes  Ram_Charan  tough-mindedness  uncertainty 
23 minutes ago by jerryking
Ikea dismantles tradition to seek inspiration from car industry
October 2, 2019 | Financial Times Richard Milne in Oslo.

Sometimes the complexity of their own companies can surprise top managers. Torbjorn Loof, chief executive of the owner of the Ikea brand, looks wide-eyed as he describes how the furniture retailer has nearly 100 different cabinets, sometimes with only 4-5 millimetres difference between models.

In storage solutions it has Pax wardrobes, Godmorgon bathroom cabinets, Metod in the kitchen and Besta in the living room — similar products but with subtly different heights or widths, making things difficult not just for the customer but also for Ikea itself.

So the world’s largest furniture retailer has looked to the car industry for inspiration. Platforms have dramatically changed the process of making cars — different models with vastly different pricing can be built on the same basic chassis. Changes are made between models on the things customers see — like the dashboard and entertainment systems — but much of the back-end that is invisible to drivers can be common.

Now Ikea is looking to bring platforms into home furnishing....Ikea is experimenting with city-centre and smaller shops as well as services such as home delivery and assembly. It is looking into renting out furniture instead of selling it, and smart home technology that brings it up against Silicon Valley.

Its platform initiative is one of its most important, albeit largely invisible to customers. Much still remains to be worked out such as just how much is common between different products — a dilemma recognisable from the car industry where Volkswagen faced complaints that there was little difference between VW and Skoda models except for the price.....standardisation should lead to lower prices for both it and customers. ....“How can we scale up in an efficient way? It’s difficult if we make each product uniquely. With platforms, it’s easier to adjust to new markets,” ...The new approach is not without risks though. Developing new platforms can be a costly business and in the car industry has often led to just as much complexity as before, particularly in companies like VW that are known for overengineering their vehicles, or confusion among consumers as to how big a difference there is between supposedly rival products.

Mr Loof is aware of the problem. “We need to define what makes sense to have on the platform and what not,” he says. “If you go too far you can arguably say you have decreased your range offer.”....for the furniture group, facing the same rapid changes in the retail landscape that have caused dozens of brands to fail, there is a feeling that it needs to do as much as it can even if it is likely to have failures on the way.
automotive_industry  CEOs  complexity  furniture  home_furnishing  Ikea  inspiration  platforms  retailers  risks  small_spaces  standardization  Torbjörn_Lööf 
13 days ago by jerryking
CEOs band together to build tech we trust. But will it work? | Schaefer Marketing Solutions: We Help Businesses {grow}
On the latest episode of The Marketing Companion Brooke Sellas and I talk about a group of CEOs who have banded together and pledge to build trust into their tech They’ve created a tech manifesto and they want others to come on board.
ceos  band  together  to  bui 
5 weeks ago by marshallk
Vas Narasimhan of Novartis: ‘We Are Not at All Prepared for a Pandemic’ - The New York Times
How do you deal with all these stressors?

I’ve been working with a coach on four principles: mind-set, movement, nutrition and recovery. On mind-set, I set intentions every day. I find that trying to be clear about what I want to accomplish in the day, right in the morning, is very important. What’s the impact I want to have?

Nutrition is, Am I eating for performance, or am I eating to enjoy? I’m convinced that your glycemic status impacts your overall ability to make good decisions, handle stress, all of those things.

Movement: I’m a Peloton addict.

And then recovery. I try to sleep seven or eight hours a night. I take all my vacations with my family. I go on walks with my wife, who’s like my life coach, and professional coach, and all of everything in between.
CEOs  glycemic_index  intentionality  pandemics  Novartis  Vas_Narasimhan 
7 weeks ago by jerryking
Momofuku’s Secret Sauce: A 30-Year-Old C.E.O.
Aug. 16, 2019 | The New York Times | By Elizabeth G. Dunn.

Momofuku was founded in 2004, with an East Village ramen bar that, after some initial stumbles, wowed diners by combining pristine ingredients and impeccable technique in humble dishes that melded influences from Japan to Korea to the American south. Since then, it has become a private-equity backed company with restaurants from Sydney to Los Angeles; a growing chain of fast-casual chicken sandwich shops; a media production unit churning out television shows and podcasts; and designs on creating a line of sauces and seasonings that could capture supermarket aisles across America. While Mr. Chang is the brand’s lodestar, Ms. Mariscal, 30, is the executive who makes it all work.

Born and raised on the Upper West Side, to the family that founded the specialty foods emporium Zabar’s, Ms. Mariscal began her career at Momofuku in 2011, as a public relations and events intern. Over the years, she quietly became Mr. Chang’s closest collaborator and confidante, a largely unknown force shaping matters as varied as menu design, branding and business development. “She’s the only person I’ve ever felt comfortable giving complete carte blanche to, in terms of what Momofuku looks like and what it should be,” Mr. Chang said. He recalled suggesting to the company’s board that Ms. Mariscal be named C.E.O. almost four years ago, when she was 26. She finally assumed the role in April.

It’s not unusual for a chef like Mr. Chang to parlay cooking talent and charisma into restaurants, cookbooks and television shows — a formula pioneered by the likes of Emeril Lagasse, Bobby Flay and Rick Bayless in the 1990s. But chef-driven food brands of the scope and ambition that Mr. Chang and Ms. Mariscal envision for Momofuku, with dozens of locations and mainstream packaged food products, are harder to pull off.

Adding to the challenge is Momofuku’s particular identity, which revolves less around a distinct culinary tradition than an attitude of restless innovation, boundary pushing and spontaneity. A formulaic chain of steakhouses, Momofuku ain’t. Scaling that ethos requires a tightrope act: Create enough structure and continuity to stave off chaos, without destroying the brand’s animating spirit in the process.
Asian  brands  branding  business_development  CEOs  chefs  commercial_kitchens  David_Cheng  detail_oriented  differentiation  diversification  food  founders  fusion  growth  high-standards  interns  investors  kitchens  leadership  Momofuku  organizational_structure  restauranteurs  restaurants  scaling  special_sauce  women  workaholic 
7 weeks ago by jerryking
Mellody Hobson of Ariel Investments: ‘Capitalism Needs to Work for Everyone’
July 18, 2019 | The New York Times | By David Gelles.

Mellody Hobson was raised by a single mother and endured economic hardship as a child. The phone was shut off. The car was repossessed. Her family was evicted.

Today, Ms. Hobson is one of the most senior black women in finance. She serves on the boards of JPMorgan Chase and Starbucks, and this month was named co-chief executive of Ariel Investments, the largest minority-owned investment firm.......I was in the Woodrow Wilson School of international relations and public policy at Princeton. You have to apply to get in, and I did not originally get in. I lobbied really hard and called many people. I just would not take no for an answer.

I spent a lot of my years in the Woodrow Wilson School studying systems that really oppress people. I wrote my senior thesis on South Africa, and specifically on how children ultimately led to the end of apartheid because of their uprisings.........What do you tell people who are starting on their financial journey, wherever they might be?

I start off by explaining to them that it’s never too late, literally never. I also think the most important thing you can learn about money, and Warren Buffett talks about this, is compound interest. It’s the eighth wonder of the world. If you understand compound interest, you understand money working for or against you.

We talk about long-term patient investing, and that idea that slow and steady does win the race, that time can be your best friend when it comes to investing. That’s why we have a turtle as a logo at Ariel........ I believe in capitalism. It is the best system that has existed in the world. Show me a better one. I can’t find it. But I also believe that capitalism needs to work for everyone, and so I don’t begrudge those people who’ve done extraordinarily well in our society as long as it’s a fair fight.

It isn’t always a fair fight, though, and that’s what we need to fix. That could be anything from our tax bases and how that works, our tax rates, to other issues that occur in our society around fair opportunities for education.

I am a person of color who happens to be a woman as well, and I have firsthand dealt with inequality, despite having shown up with all of the credentials. I do not sit here believing that if you’ve just gone to a great school and this, that and the other, it’s all going to be fine. It just doesn’t work like that in our society. I think about those people who were like me and are like me. That goes into the boardrooms that I’m in. I also think about the people of color who are inside of those companies, making sure they get the same opportunity as those who are in the majority population....
African-Americans  alumni  Ariel  capitalism  CEOs  finance  inequality  investing  Mellody_Hobson  money_management  Princeton  women 
12 weeks ago by jerryking
Canada’s missed opportunity: Pot industry now being run out of the U.S.
JULY 3, 2019 | The Globe and Mail | by ANDREW WILLIS.

With Bruce Linton’s firing, it’s now all too clear that the biggest companies in Canadian cannabis are run out of New York and the state of Washington. An industry that this country seemed destined to lead when the federal Liberals legalized recreational cannabis last October 2018, is increasingly dominated by foreigners. ...... The opportunity to create global cannabis champions, based in Canada, appears to be vanishing. There should be a conversation around that issue, in political and business circles, before the biggest head offices all disappear... Linton ...lost his job because his visionary approach for Canopy Growth Corp. didn’t fit with the predictable, quarter-by-quarter profits demanded by Constellation Brands Inc....Linton’s departure is similar to what has played out at many startups that get sold to multinational companies. .....Even when we brought Constellation's $5-billion in, I knew, from that change of structure, there would likely be implications for management, but it was the right thing to do for the company.”... our entrepreneurs tend to sell successful startups at a relatively early stage, compared to jurisdictions such as the U.S. and Asia. . The trend, now happening even more rapidly in the cannabis sector, cuts into the potential future prosperity of this country......a study last year from the Washington-based Brookings Institution and the Martin Prosperity Institute at the University of Toronto’s Rotman School of Business – scaling up successful domestic businesses is essential to creating wealth and producing the next generation of corporate leaders. Canadians need to do better at turning their own companies into global champions. Silicon Valley generates enormous wealth out of a vibrant tech community. Why can’t Leamington, Ont., or Nanaimo, B.C., aspire to do the same in cannabis?..Canadian cannabis companies were created by government policy..... federal and provincial regulators granted the licences needed to grow and distribute their products – and local capital markets were receptive to financing them...CEOs, boards and domestic politicians should be asking if the country is best served by a laissez-faire approach to cannabis that created vibrant, valuable businesses following legalization in 2018, then quickly began handing over control of the sector....
Andrew_Willis  Bay_Street  Brookings  cannabis  Canopy_Growth  CEOs  Constellation_Brands  crossborder  departures  firings  global_champions  head_offices  home_grown  industrial_policies  Martin_Prosperity_Institute  missed_opportunities  sellout_culture 
july 2019 by jerryking
Lee Iacocca, car executive, 1924-2019
July 2, 2019 | Financial Times | by Kenneth Gooding 14 HOURS AGO
'80s  automotive_industry  CEOs  Chrysler  Detroit  Ford  obituaries 
july 2019 by jerryking
Twitter
RT : Social are:
- 89% better at empowering others
- 52% stronger at compelling communication
- 46% more influenti…
CEOs  from twitter_favs
june 2019 by dtomoff
How non-engineer Stewart Butterfield reached top of Silicon Valley
JUNE 21, 2019 | Financial Times | by Richard Waters in San Francisco.

Silicon Valley loves its engineer-founders. They are members of the region’s highest caste, the entrepreneurs trusted to turn bits and bytes into the next hit digital products, and the people venture capitalists most like to back.

Stewart Butterfield, co-founder and chief executive of the workplace chat app Slack, is not one of them. He stands out as a philosophy major in a start-up world full of software engineers, a non-techie who has made it to the top of the tech heap......Slack’s listing on the New York Stock Exchange this week has cemented his reputation as one of the Valley’s most creative product designers — and values his own stake in the company at $1.6bn.

“He is your quintessential, product-oriented founder-leader,” ......In a nod to an unconventional streak in Mr Butterfield’s personality that separates him from the herd, Mr Levie adds: “He has just the right level of quirkiness.”.....Butterfield got a philosophy degree at the University of Victoria, followed by a master of philosophy at Cambridge, before being bitten by the internet bug at the end of the 1990s and moving to Silicon Valley........Pressed on how he can withstand the Microsoft onslaught, Mr Butterfield defaults to the quiet, analytical self-assurance. “There has been a long history of the small, focused start-up taking on the large incumbent with multiple lines of business and being successful” — starting, he added, with a small and scrappy Microsoft itself taking on the giant IBM.
artisan_hobbies_&_crafts  CEOs  chat  craftsmanship  engineering  Flickr  founders  mobile_applications  product_design  product-orientated  quirky  Richard_Waters  Silicon_Valley  Slack  start_ups  Stewart_Butterfield  workplaces 
june 2019 by jerryking
Opinion: Canadian CEOs facing an innovation disconnect - The Globe and Mail
ELIO LUONGO
CONTRIBUTED TO THE GLOBE AND MAIL
PUBLISHED MAY 29, 2019

Both Canadian and global CEOs told us the environment, territorialism and disruptive technologies were their top three concerns.

For Canadian companies, lack of consensus on environmental issues weighs heavily given our disproportionate dependence on the resource sector. And with nearly a third of our gross domestic product tied to exports, growing trade differences with and between Canada’s two largest trade partners raises concerns about the continuing health of our economy.

While our leaders are carefully watching how these national and geopolitical issues pan out, they are putting their focus on technology. Almost two-thirds plan to increase investment in disruption detection and innovative processes – with the same number planning to collaborate with innovative startups.

But CEOs must also brace for the effects of automation and artificial intelligence on their work force. It comes down to culture, and three-quarters of CEOs say they want a culture in which failure in pursuit of innovation is tolerated. However, barely half say that it exists today.
Canadian  CEOS  collaboration  disruption  innovation  large_companies  start_ups 
may 2019 by jerryking

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