These companies are going to have to counter a major disruption with a major disruption of their own. Most of the retailers who are in trouble are tinkering around the edges: a few more glitzy end aisle displays here, another rebrand there. Stripped down to its simplest form, these stores are glorified shelvers of stuff.
If you are a woman working in a male-dominated environment it is easy to feel like a square peg in a round hole. You need to bring your authentic self to work to feel good about yourself, but your natural approach to situations is often different than that of your male co-workers. Rest assured that fitting in and being yourself are both possible.
The key word here is "achieve", because the company can be motivated toward a lot of other things, both positive and negative, but a single focus on achievement is what contributes to emotional intelligence. Are your people able to ignore or suppress internal politics in order to work together toward a common, compelling and well defines goal?
Doing the hard work to create a clear, concise and compelling definition of who the company is -- what business it is really in -- is a tiny investment to inoculate a company from this potentially fatal disease. Steve Jobs was such a remarkable leader because he was constantly fearful of the threat of founder's dilemma, even as he was basking in the glow of Apple's amazing success.
Once hesitant to blog, tweet or post a photo to Facebook, more and more CEOs (and their leadership teams) are embracing social media in an effort to build communities and increase positive sentiment towards their companies. Here are five reasons I believe CEOs should champion the use of social media.
When did the term "working mom" come into the popular vernacular? I cannot, for the life of me, figure out why any woman with a job and children would describe herself as a working mom. My husband is a wonderful father, and great business leader, however, he does not refer to himself as a working dad. In fact, I don't know one man who works while raising a family and calls himself a working dad. So why do we?
There are two things that Blockbuster, Borders and Kodak have in common. The first thing they have in common is they all went bankrupt because digital technologies made their businesses obsolete. The second thing Blockbuster, Borders and Kodak have in common is that they all could be thriving today.
Cloud-based services, also known as SaaS apps (software as a service), make more sense for everyone involved. SaaS apps are easier for customers to access, use and pay for, with the low subscription fee essentially amortizing what used to be a more onerous capital cost. They provide the developer with a consistent, predictable cash flow, and a far easier/cheaper development and upgrade process.
When there is confusion about something, such as an organization's direction or strategic plan, there are many different interpretations of what it is. When there are many different interpretations, it usually means people aren't aligned with where the company is going and how it needs to get there.
"Peer groups" is a basket of similar or larger companies compared to one company, and "benchmarking" is a decision to pay a CEO at the 50th, 75th or 90th percentile of other CEOs. average. This one issue -- benchmarking against peer groups -- has been responsible for CEO pay increases more than any other.
Taken as a whole, very high CEO to worker pay ratios can signal systemic wealth disparity. CEO pay has been outstripping executive and worker pay year over year by a wide margin because of structural issues related to "peer group benchmarking" (the very way CEOs are paid). This structural pay inequity is unrelated to CEO performance.
When it comes to business and management, money doesn't buy peace of mind and a leader's biggest worry often comes down to variations of the same theme: managing people. And if that's not their top concern, it should be. Top industry leaders agree that a change is coming, and only the well-prepared leaders will come out on top.
In response to the backlash surrounding RBC this week, and in particular, against RBC CEO Gordon Nixon, let's look at how CEOs are compensated. Last year, RBC posted record earnings of $7.5 Billion and CEO Nixon received a pay hike of $2.5 million with millions in stock and option-based awards, incentives, and bonuses -- for meeting or exceeding expectations set out by the board of directors. I thought that was pretty shocking until I read about other CEOs. What makes these people so valuable and worth so much to a company? Someone tell me please. The bottom line is that this type of financial abuse affects everyone.
Trust at the board level is necessary at three intersection points: board and CEO, board member to board member, and CEO to C-suite. Why does trust matter? Think about the transactional costs of a low-trust relationship. In low trust relationships, suspicion abounds and parties feel compelled to paper every decision and every discussion. What can boards and executives do about this? Here is some advice.