Becoming a CEO of a company whether it’s big or small, is a huge task to take on, but can be the most rewarding depending on how your company does. Either way when going into such a job, in which you are so powerful, you have to think of each and every challenge that you come across within your job. Challenges that your company will face can vary in many different ways, from environmental issues, to social issues, economic issues, as well as many more For my company, Staples, I have worked in the store since I was 15, going through quite a few managers. Luckily I got to meet people very high in the corporation, such as the president and vice president of the company, and I could see how stressful their jobs have been. As being the CEO of Staples there are many problems that can come into effect. First thing that comes to mind is competition. Our competitors Office Max, and Office Depot are our biggest threat in the office supply business. Our company holds about 1100 stores, while they have about 700 each, and each day they take away business from us. We have to fluctuate our prices with what’s popular for that time of season, such as pens, notebooks and computers for back-to-school, and make sure our prices are more convenient for the customer. The second dilemma that comes to mind is geography. Considering we have over 1000 locations, we have to figure out where the appropriate places for a new store would be. For instance if we only have 2 stores in Maine, we can’t put them together, yet we need to put them in a somewhat populated place, that would be most convenient for the business customer. For us, globalization is not a very big problem considering that we only have one store in France, one in Germany, and two in Puerto Rico. As for a third challenge is technology. Everything is becoming on-line, and on the Internet. Some people can’t go out to the store everyday do but something they need, and each store can’t carry every product. So as a CEO the best solution is to put them online so people can shop at home, and have the products shipped to their doorstep. Also by having staples.com available in store, if the store itself is out of a product, just order it.
The CEO needs to create a corporate culture. His culture will determine what people should be doing and what should do not be trying. He can decide who will stay, who will leave, and how the job will get done. Culture starts with the boss. He can decide how he wants people to act and start modeling the behavior publicly. STOPPED HERE…!!!:)
The reason that I chose to do this article is because in class I found the discussion of CEO’s
When people happy sales are up, if people are unhappy sales are down. Founder and CEO of Dotcom Distributions, Maria Hargety agrees, “No matter how big your brand becomes, your company is nothing without the people who make it run,” (Haggerty, 2015). Walgreens is one of the top drug stores in the company and yet this store is barely making an enough to stay open. Hargety is expressing that brand does not matter, what matters are the people behind the brand. As long as, employees stay unhappy, productivity will remain low. Another reason, behind low morale, is team members are opposed to change. For the most part, all the employees have been at Walgreens more than eight years. The employees still have the mind set of Walgreens eight years ago. Walgreens has evolved and employees have not. When change is announced it is instantly shot down by employees, they rather have it the old way. In many cases, the old way is easier but not the most efficient. There are many other benefiting factors to low morale in the work place but leadership is a root cause of unhappiness. Employees feel left out of the loop most of the time. Leadership fail to understand their employees as equals. Everyone should be treated the same from district manager to sales associate nonetheless, in many cases that is not way. The store manager controls the work load and the scheduling. When the store manager makes the schedule it
external and focus on moneymaking. The responsibilities and decisions of a chief executive officer may seem daunting, how...
The following are two challenges that I would recommend that CEO of Floating Design Shipbuilding address is the perception of unfairness by the organization and the need for the diversification of benefit plans.
While the scenario is presented as a fictional work, it may well be that this occurs on a daily basis. The conclusions here are based on observations and cultural views. There are many other factors that can be used to determine who should succeed a CEO that is retiring. Some of the items that might be considered are if a style change is needed or the persons experience.
The inventory issue also ties in with transportation problems where accurate lead and delivery times are non-existent. The inventory turnover is not at its full potential because if the DC has merchandise yet the stores are stocked out, the inventory is frozen and will become obsolete.
As for the second issue, it seems that Costco’s efforts to become an international company are moving slowly. They have not reached a point where their US and Canadian warehouses provide a backbone for their finances. Costco’s third issue is their expenses, which include merchandising costs and pre-opening expenses, have been increasing steadily and they need to balance this out to keep a positive net income. Analysis: Key Issue #1: Costco has many competitors, with the primary two being Sam’s Club, a wholesale business managed by Walmart, and BJ’s wholesale club. Sam’s Club offers the same services as Costco.
Leaders: Strategies for Taking Charge is an organizational management book written by Warren Bennis and Burt Nanus for those who aim to become better leaders. The authors emphasize that having executive positions or being a manager does not automatically make one a leader. A leader is one who inspires his staff, help them find purpose in their work, and effectively implement their plans. They separate the book not quite into chapters on different topics, but rather by four strategies that they have determined are vital for any leader to take on. The strategies are effectively concluded as attention through vision, meaning through communication, trust through positioning, and the deployment of self. A prominent feature of Leaders is the various
We now know a few things about CEOs. Their job is to make their organizations look good, however troubled and ineffective they might be. They do not feel obligated to divulge troubling information that might affect public confidence, cause valuable employees to leave, or make it difficult to recruit in the future.
Today’s companies become successful based on their abilities to create and manage change. They can no longer survive without “…courage and imagination – the courage to challenge prevailing business models and the imagination to invent new markets.'; As the globe continues to evolve into a marketplace with vanishing boundaries, competition becomes stronger, tighter, and smarter than ever before, ultimately forcing organizational change. The tidal strength of competition that has been upon us over the past few decades has fundamentally changed the “blueprints'; of many corporations and how they now need to be led. Businesses have awakened to the hard fact that leadership can no longer be defined by the effective management of people and systems, but most importantly by the effective leading of change. Leadership, or the lack thereof, is proving to be one of the most crucial determinants of whether organizations will survive and flourish in the next century’s business frontier.
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.
The monumental consequences of strategic decisions call for individuals with unique performance abilities who can navigate the volatility, uncertainty, complexity, and ambiguity. inherent in the nature of those decisions. Aspiring leaders can rise to the challenge by undergoing self-assessment and personal.
Being a CEO is proven to be much more difficult than trying to become one. Over the last few months we have been examining the reasons behind the successes and failures of some great CEO practitioners. It seems that, despite the different managerial styles, great CEOs employ some common techniques. The following pages contain the golden rules of successful business leadership.
Leadership is one of the most important facets in organizations. In most cases, leaders act with respect to organizational culture as well as the codes of conduct that determine the manner in which leaders relate with subordinates. Leadership entails the use of effective communication skills to get activities done in the workplace and to ensure that employees shelve their individual interests for the sake of their organizations’ shared targets. It is the role of leaders to ensure that consumers attain high quality products and services by making certain that members of their firms’ workforce are fully motivated to work effectively and utilize resources in an efficient manner (Bass, 22). With the increasingly sophisticated nature of the corporate world, leadership should not be based solely on the desire to control and coordinate affairs within the workplace, but leaders should also exhibit positive examples and continually monitor the changing trends in corporate governance to initiate the most relevant guidelines. Competitiveness can only be attained when leaders are in a position to set the right standards in their firms and coordinate affairs appropriately by understanding consumer and employee needs.