I. History TEOCO was once an S Corporation known as the Strategic Technology Group founded in 1994. Their focus from the beginning was to offer high quality consultancy for IT projects. Their first clients were Mobil, Siemens, Cable and Wireless, SRA, TRW, and Freddie Mac. Operations began in April 1995 and the company changed their name to TEOCO(The Employee Owned Company) by March 1998. (Strategic Management, 2015) Once the number of employees increased and rose passed 75 TEOCO could no longer be considered as an S Corporation and had to change its status to a C Corporation. In three startups, TEOCO invested a large amount of capital in netgenshopper.com, Eventrix.com, and Appreciateyou.com. However, none of these ventures proved to be …show more content…
2009 TEOCO would consider the acquisition of TTI. TTI has about 300 employees and was on the list for NASDAQ. The acquisition was completed in August 2010. No results have come to date, but the acquisition has been viewed as a positive one. (Strategic Management, 2015) Throughout the acquisition with TTI and the investment from TA Atul has maintained his position as CEO.
III. SWOT Analysis
Strength
*The employees value their jobs.
*Employees start at a wage that is below market rate, but they also receive stock ownership(if they choose), great benefits package, and bonuses.
*Employee recognition from the CEO, Atul.
*TA liquidity could help strengthen the culture of ownership.
*Employees realize their worth in the company, once they realize the benefits of investing in the company. Weaknesses
* TA and TTI pose a strain to the employee ownership, which Atul the CEO, holds a strong belief in.
* TEOCO employee perception could change with the increase in the price of ownership and the diminishing opportunity for shared availability.
Opportunities
*acquisition of TTI and investment of TA could bring in more business and profit.
*Potential increase in
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Guitini was a successful, yet, retired executive brought out of retirement by Atul. After reading an article of Philip 's success in the Washington Post, Atul contacted him and persuaded him to join his company. It took a year for him to finally come out of retirement and join TEOCO, but when he did, Philip was appointed a position on the Board of Advisors. He now serves as Vice Chairman and President of TEOCO. (Strategic Management, 2015)
Philip stated that: John Devolites served as president of Professional Services of Telecordia and had an earlier career that included executives positions with: Price Waterhouse Coopers, American Management Systems(AMS), and Booz Allen Hamilton. In the year 2000, John was appointed as a member of the Board for TEOCO and in February 2004, John, was also appointed the position as a Senior Executive. It wasn 't until January 2005 he was appointed the position of General Manager of the Telecom Business Unit. John has his own set of skills that focuses on client relationship and creativity. (Strategic Management, 2015) Additional Board Members with expertise in the telecom industry include: Gabriel Battista, Brian J. Conway, Hythem T. El-Nazer, and Robert J. Korzeniewski.
VIII.
As a CEO I would want my company to be up to date in all aspects of technology so that we aren’t left behind. It seems that Atkins, the CFO, may have an old school way of thinking and wants to leave things as they are in working order. Atkins has the best interest of the company but will need to rethink certain things and accept that technology is a way of the future, and will not be going away. Vargo needs to identify that Devereaux is a risk taker, even at the expense of the company. Peterson, the Vice President of property and casualty, has said that the underwriters think that there’s too much judgment involved with their job, so the expert systems may not cut. The employees saying this may be valid reasoning, or a plea to keep from losing their jobs to artificial intelligence. More testing will be needed before the expert systems is fully in place.
He has served as director in over 40 public companies and also serves as a
In 2014, JB Hi-Fi announced the retirement of their CEO Terry Smart. He had been with the company for more than 14 years. In an interview with Smart Company, Smart explained the process for hiring his successor. Smart (2014) stated that succession planning is not something that can be done overnight, it’s a long-term process and it’s part of the board’s role. When JB Hi-Fi promoted Richard Murray to CEO it was because of his extensive experience, knowledge, skills and contribution to the organisation over 11 years (Keating 2014). This example of JB Hi-Fi’s succession planning not only demonstrates their diligence in following their charter but also the emphasis placed on laying the right
This paper will compare and contrast two CEOs that led technology companies through difficult times. Michael Dell CEO and founder of Dell Computers and Andy Grove former CEO and cofounder of Intel each provided quality leadership as their companies faced challenges in the fast-paced computer technology industry. This paper will introduce each man and describe their contributions to their company and the field of management, resistance they encountered, similarities in their professional lives and how they differed. The information about these two success CEOs comes from Jeffrey Krames (2003) book What the Best CEOs Know: 7 Exceptional Leaders and Their Lessons for Transforming Any Business.
external and focus on moneymaking. The responsibilities and decisions of a chief executive officer may seem daunting, how...
This did not last long because just a quickly as they rose so did they fall. Within a year their stocks were down to little of nothing, and their name was not one someone wanted to be associated with. The downward spiral can be contributed to the organization culture and improper checks and balances.
Not all strategies “fit” within the companies activities, some are hit and misses such as when Stewart placed Charles Koppelman to the board, where “he became chairman of the board in 2005, where he negotiated a paid consulting arrangement for himself. He was viewed as enabling Stewart’s self-regard as much as tending to th...
Reiterating to the opera employees that she would be CEO of such a merger would also help to minimize uncertainty or doubts. She has a strong following and professional rapport with those in her organization, and having her employees trust going into such a merger is instrumental in influencing their decision to approve of such a merger. In speaking with her staff, Anne needs to set clear and obtainable goals to help motivate her employees. Kreitner and Kinicki (2010, p. 228), in speaking about how goals regulate effort, state that “Not only do goals make us selectively perceptive, they also motivate us to act. Generally, the level of effort expended is proportionate to the difficulty of the goal”.
In any business money is the driving force, whether it is the owner or employee. Money is the greatest incentive for performance amongst employees Lincoln Electric defined this fundamental reason for driving employees to excel at their jobs. Aside from compensation there is an understating between mangers and their subordinates that both have the same fear toward lack of income, this commonality serves to encourage all employees to deliver quality and affordable products at the best market
1. Ken Lay served as CEO and chairman and Jeffrey Skilling also served as CEO. They both were responsible for planning, organizing, controlling and leading the company. They set goals for the company and organized how they would be achieved. Kay’s role was as the figurehead and the leader. He also served as the spokesperson for the company and made many of the decision on the future of the company. As CEO’s they both possessed effective communication skills, where decisive, which was evidenced by their vision for the company and refusal to admit wrong even at the end, and visionary. Throughout Lay’s tenor the company continued to grow and prosper at a fast pace.
CEO Johnston also has plans to bolster the company’s leadership with the best minds available and also use motivational techniques to invigorate his employees. These ideas show the character of the CEO in enhancing productivity from his work force.
... Donald appear to be solid selections that could become innovate members. The future of Donald’s area of the company will depend on his ability to change.
...onship between the employer and the employee. Employers who recognize this and proactively use strategies to promote employee involvement and fair employment practices will be likely to reap the organizational rewards of doing so.
...and employees. This also includes, but, is not limited to, a great leadership in which held their company no matter size or strength through the dirt with the knowledge of where it was heading.
The organization is able to manage a high coverage of risks at relative low costs owing to the availability of highly skilled personnel in the company’s team of employees. This benefit also brings about another advantage of easing the financial burden of the organization (Johnson, 2016). Besides, effective employee benefit system offered by the organization could improve the general productivity. This benefit is attributed to the fact that employees tent to be more effective when they are given assurance of job security. In addition, workers become more productive when they and their families are given the desired security by the employer. The other benefit to the organization if it employs an effective compensation and benefits system entail benefits from premiums (Wayne, Shore, M., Bommer, & Tetrick, 2002). These premiums are typically tax deductibles as corporate expense. As such, a company that has an effective compensation and benefits system is likely save extra money for other