HFT3240 EXAM 4 STUDY GUIDE CAREER TIDBIT o MEG KROFTON PRESIDENT OF WALT DISNEY WORLD LEADERSHIP Invite people on a journey A leader has a head for business and a heart for people Think hard about who you are How do you make people feel CAREER TIDBIT o Be there early be prepared and have back up of everything o Journalist with John F Kennedy assassination Being prepared This reporter predicted the needs to be there His success in this event was that he was there and prepared o When a manager is a micro manager 69 of the people who work for CAREER TIDBIT you want to leave o 3 types of managers 1 Micro manager not good 2 Abandonment manager someone who tells you to figure it out on your own doesn t give you any guidance 3 Save the antelope manager A manger who helps and guides you they will pick you up and set you back down on the right track guide your success You want someone that clears the path for you carry you for all you need o Great example of coaching Cleared the path for the antelope and created a path A new employee asks you to finish an assignment he is struggling with what do you do o Come along side and help him out but not finish it Co workers complain about IT team taking forever to do something what do you do CAREER TIDBIT o You want to go to work for a boss who wants you to win Movie of Ben Herr Charleston Heston had a boss who really wanted him to win he wouldn t let him quit CAREER TIDBIT o Baptist Shuffle The removal of scuff marks on the floor CEO surgeon would do this Came from the Cleveland Clinic CAREER TIDBIT o DAYS INN Employee was told to go outside and pick up cigarette butts Changed his view perseverance of the hotel industry o No one is above serving other people and working CAREER TIDBIT o Clinton Day brings us 2 career tidbits 1 Best leaders are the leaders that learn to follow first High school graduation very small graduation o Everyone got an award and some sort of superlative Kid got the best follower award o This kid has done the best very successful 2 Leaders should 3 1 Love people 2 Be kind to people 3 Exhibit self control Chapter 9 Acting Small o Enterprise Staying Small The Manns School trip she was planning and she had to rent a bus for transportation She was able to go ahead and make a phone call and quickly find out if she had a reservation or not o They give her a discount for school Tones of entrepreneurial hunger What powers Enterprise Rent A Car s remarkable success is that the company as a whole functions as a startup entrepreneurial venture hungry for business o This chain doesn t act like a chain it is an international company that builds customer employee and partner relationships locally a firm with thousands of employees who operate the business as though they own it Acting small with customers means to act fast flexible responsively personally It means knowing the customer and custom fitting service They knew if they acted like this their customer base would grow A can do spirit of action Know your customer and custom fit Wide variety of options A shared vision Share your vision communicate the shared vision o Acting Small ways these companies have acted small regardless of how large they are Miller SQA Indoor Street Engages all of the employees that are there o Administrative position factory worker etc Enables all workers to mingle o Between the office and factory Midwest Express fist name basis culture Container Store Huddle Has a store huddle to bring everyone together Allows people to feel a part of the community binds people Charles Schwab Town Hall Town hall meetings o Change It Questions USSA owner asked Easy for customers to do business Easy to do business with ourselves Change it If not why o Keep It Simple When doing business with customers When doing business with each other Economies of scale maximizing the amount of production with the least amount of resources Example when you buy more you get it cheaper Minimize the disadvantages Maximize the advantages o Being able to purchase a lot of stuff at a cheap rate Disadvantages of being big being able to control everything o Reaping smallness benefits A blend of Value driven leadership Innovative structure IT customer employee focused o Technology must be customer and employee focused Ownership attitudes o Custom Research Sustained success Applied for Baldrige Award o Became really popular and successful from thing application of the award o Award that is voted on a committee made up of congressmen president does the award annual has to do with management quality Serve only large clients o Coke o Proctor and Gamble Be a technology leader Cross functional teams o Person is able to do more than one thing o Custom Research teams Client book Everything about the client is there for the team to look in Constantly updated Entire team meets Client specific databases IT access response Utilize technology 24 7 beepers Always available to be unique o Great Service Companies High Tech High Touch They did not want to take a cookie cutter approach they wanted Both NOT ONE OR THE OTHER Most great service companies are high touch and high tech not one other the other page 189 Having a large vision of what is going on being able to see the big and small picture o Cross functional teams there organizations are known as CITs the essential idea is to organize around customers rather than functions page 190 Structured around the customer NOT the functions USSA great example of cross functional teams Service claims Geographic versus function o If you live in Oklahoma and have your house insurance in Oklahoma your needs will be very different if you were to live in Florida we have hurricanes o Claim agents will know about their area where they are in o Customers like small Less red tape More customized service More personal attention o Employees like small Greater sense of teamwork Community Accountability For customers patronizing a small company can mean less red tape a more customized service and more personal attention page 195 For employees working in a small firm may mean a greater sense of teamwork and community and more personal accountability page 195 o Acting Small is BIG IS BIG When people are a key part of the TOTAL PRODUCT acting small is big Large service companies that act small for customers and employees enjoy the competitive advantages of both scale and smallness Small companies that retain nimbleness responsiveness teamwork and personalization as they grow and mature