How Great Companies Achieve Extraordinary Results with Ordinary PeopleThe Men’s WearhouseCompany’s PhilosophyPeople Resource ManagementTraining & DevelopmentRewarding SystemMeasures & FeedbacksOutcomesSlide 9ConclusionsSlide 11Works CitedSlide 13How Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeopleHow Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeoplePresented by: “Ning” Jidapa Ittipong “Mink” Pinyarat Sirisomboonsuk “Peggy” Sirikanya BuranabunpotPresented by: “Ning” Jidapa Ittipong “Mink” Pinyarat Sirisomboonsuk “Peggy” Sirikanya BuranabunpotThe Men’s WearhouseThe Men’s WearhouseStarted operation in 1973Company-based in Houston, TexasOne of the North America’s largest specialty retailers of men’s apparel with over 500 locationsA full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentalsStarted operation in 1973Company-based in Houston, TexasOne of the North America’s largest specialty retailers of men’s apparel with over 500 locationsA full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentalsCompany’s PhilosophyCompany’s PhilosophyServant leadershipTake advantage of people’s strengthsEmployees are customers tooLook for win-win opportunitiesCelebrate individual and team successServant leadershipTake advantage of people’s strengthsEmployees are customers tooLook for win-win opportunitiesCelebrate individual and team successPeople Resource ManagementPeople Resource ManagementThis Retailer’s ProgramAffects the EmployeesUltimate OutcomesTraining & DevelopmentRewarding & MotivationFeedbacksSkillEffortMoraleEmployee PerformanceTraining & DevelopmentTraining & DevelopmentWorkers not always from the best pool but have potential to developSuit UniversityServant leadershipDevelopment of teamworkWorkers not always from the best pool but have potential to developSuit UniversityServant leadershipDevelopment of teamworkRewarding SystemRewarding SystemExtrinsic vs Intrinsico“Wardrobe Consultant” titleoStock options and sales commissionIndividual vs Team SpiritoBased on philosophy of “Success comes only when everyone in the store is successful.”Extrinsic vs Intrinsico“Wardrobe Consultant” titleoStock options and sales commissionIndividual vs Team SpiritoBased on philosophy of “Success comes only when everyone in the store is successful.”Measures & FeedbacksMeasures & FeedbacksFocused on behaviors that influence important business functionsAligned the evaluation criteria emphasis on company’s philosophyFocused on behaviors that influence important business functionsAligned the evaluation criteria emphasis on company’s philosophyOutcomesOutcomesDifferentiated itself in a price-sensitive marketDriven customer loyalty by employee loyaltyFortune 100 best companies to work forIncreased in sales and profitDifferentiated itself in a price-sensitive marketDriven customer loyalty by employee loyaltyFortune 100 best companies to work forIncreased in sales and profitCONSOLIDATED STATEMENTS OF EARNINGSFor the Years EndedJanuary 31, 2004, January 29, 2005 and January 28, 2006(In thousands, except per share amounts) Fiscal Year 2003 2004 2005Net sales $ 1,392,680 $ 1,546,679 $ 1,724,898Cost of goods sold 879,234 943,675 1,027,763Gross margin 513,446 603,004 697,135Selling, general and administrative expenses 431,663 484,916 531,839Operating income 81,783 118,088 165,296Interest income (1,495 ) (1,526 ) (3,280Interest expense 4,006 5,899 5,888Earnings before income taxes 79,272 113,715 162,688Provision for income taxes 29,538 42,359 58,785Net earnings $ 49,734 $ 71,356 $ 103,903ConclusionsConclusions◙“PEOPLE” is the most important.◙“VALUE” comes first. It helps people to be better. It lowers turnover, increases margin.◙It is crucial to be able to turn theoretical knowledge into action.◙“PEOPLE” is the most important.◙“VALUE” comes first. It helps people to be better. It lowers turnover, increases margin.◙It is crucial to be able to turn theoretical knowledge into action.ConclusionsConclusionsCompany’s motto“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.Company’s motto“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.Works CitedWorks CitedO'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>."The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.O'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>."The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.How Great Companies Achieve Extraordinary Results with Ordinary PeopleHow Great Companies Achieve Extraordinary Results with Ordinary People. . . . . . Thank YouThank You . . . . ... . . . . . Thank YouThank You . . . .
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