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IVORY TOWER....NOT!!

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I have over four decades of experience with easily over one thousand CEO's/Managing Directors around the world.  I have witnessed some who were the best of the best, others who were less stellar and the vast majority at various stages in-between.  This is the story of one of the best.  Read the article from the Wall Street Journal by Hubert Joly of how he became and then handled the role of CEO at Best Buy.  For those unfamiliar with Best Buy, it is probably the largest consumer electronics retailer in the USA. With roughly more than 800 stores and close to 100,000 employees, Best Buy was a big company.  It was in that time period that Best Buy was reeling from ineffective management, lackluster consumer demand, serious online competition and what your will find was a really screwed up IT operation.  Financial analysts were suggesting it should file for bankruptcy  The story is intriguing, readable and fascinating.  It also shows you what a great CEO can do if they want to.

One of the techniques Joly used is what may now be out of favor.  It is called MBWA or Management By Wandering Around.  I still think it is of great value when trying to turn around a business or even when you, as CEO are just doing your own internal audit of best practices.  Joly proves it with concrete examples that are excellent.  Some CEO's take on a role like this but they stay in their office or board room and never get to the floor.  After you have read this article, one thing you will notice is that Joly got many of the ideas from the people out on the retail store floor, or out with the first line supervisors.  Yet he gives them the credit for that improvement.   These are all signs of a "best" CEO.  

Bob  July 7, 2021


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