ManagersRealm: March 2007 Archives

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Mar31	The Common Sense Management of Sam Walton - 71 Gary Bourgeault March 31, 2007 Know More: Sam Walton always low prices, Break the Rules, Business Leaders, Common Sense Management, conventional wisdom, customer focus, customer service, Great Leader, Great Managers, Innovation, Inspiration, motivation, Passion, Wal-Mart When Underfinancing and Undercapitalization is Good There have been a number of studies that say one of the reasons that new businesses fail is they are underfinanced or undercapitalized. While there is some truth to that, there is a whole other side of the issue that is very powerful to successful business owners. But first let me say concerning companies that are flush with money from the beginning: It is just as dangerous for them as those without much money. The reason why is they simply throw away all semblance of fiscal responsibility and go through the money because it's there. Yet there is still a more important reason why too much money can be bad. Walton said it like this: "Many of our best opportunities were created out of necessity. The things that we were forced to learn and do, because we started out underfinanced and undercapitalized ..." That is an excellent assessment of the overall situation for businesses, no matter what stage they're at. Continue Reading Posted at 5:09 PM \| Permalink \| Comments
Mar30	The Jack Welch Management Mystique - 24 Gary Bourgeault March 30, 2007 Welch's Ability to Permeate the CompanyWhen it came to the initiatives and ideas that came about in all the various connections and contace and communications that Welch made, one of the underlying reasons they were so effective wasn't only what... Continue Reading Posted at 8:04 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 58 Gary Bourgeault March 30, 2007 Who had Access to KelleherIn a somewhat funny story, a vice president in the company came to Kelleher complaining that customers, baggage handlers, pilons and gate agents had more access to him than he did.Kelleher's response was, "Let me explain... Continue Reading Posted at 3:36 PM \| Permalink \| Comments
Mar29	Mary Kay Ash: She Never Wavered - 16 Gary Bourgeault March 29, 2007 "Many women have made the mistake of changing their beliefs to accommodate their work."There are a lot of times in the media when we hear that someone has sold out. What is usually meant by that is their core beliefs... Continue Reading Posted at 11:28 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 70 Gary Bourgeault March 29, 2007 Belief Versus ActionWe have heard for decades the mantra of believing in what you're doing and loving it, as a way that can definitely lead to success. I have no qualms about that, but it definitely takes more than that... Continue Reading Posted at 8:16 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 100 Gary Bourgeault March 29, 2007 Arbitrary DiversificationThere are a lot of things one can learn from Warren Buffett and how he invests, if you understand the underlying principles, and apply them to management.Let's take his usual mantra about his holding period for stocks. He said,... Continue Reading Posted at 4:13 PM \| Permalink \| Comments
Mar28	The Jack Welch Management Mystique - 23 Gary Bourgeault March 28, 2007 Why Lean is so MeanOnce Jack Welch instituted the Six Sigma program into General Electric (GE), it became a badge of honor to be invited to partake in the meeting where the top 30 executives in the company, including Welch,... Continue Reading Posted at 9:08 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 57 Gary Bourgeault March 28, 2007 Kelleher Stayed Focused on Core PurposeAnother key competitive advantage that Kelleher added to Southwest (LUV) was that he stayed focused on the core purpose of the company. This was actually unique in the airline business.A number of their competitors like... Continue Reading Posted at 3:24 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 15 Gary Bourgeault March 28, 2007 Her Dream Wasn't an IllusionWhen Mary Kay talked about her company and the dream she had of creating opportunities for women, it wasn't an illusion that would happen for any woman that simply signed on. She knew what it would... Continue Reading Posted at 12:41 AM \| Permalink \| Comments
Mar27	Richard Branson - Lessons in Business, Management and Life - 72 Gary Bourgeault March 27, 2007 I Believe in all My Companies 100%One of the secrets that Richard Branson has that makes his seemingly endless wanderings continue, is his belief in the companies he has created. He said: "Ive had to create companies that I believe... Continue Reading Posted at 8:27 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 69 Gary Bourgeault March 27, 2007 His Great Desire to Make Customers HappyThe focus of Walton upon making his customers happy was so great, that he was almost fired one time. The problem with his focus was that he neglected his other responsibilities like keeping the... Continue Reading Posted at 3:17 PM \| Permalink \| Comments
Mar26	Multitasking Can be Harmful to Your Business Gary Bourgeault March 26, 2007 We've heard all the stories about the world of multitasking and the way of life it's becoming for a lot of people. Recent reports, says the New York Times, contradict the value that it supposedly represents.Professionals like neuroscientists, psychologists and... Continue Reading Posted at 9:55 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 99 Gary Bourgeault March 26, 2007 Why Buffett Prefers to Buy Companies It's interesting when thinking about Buffett to consider what his preferred way of doing business really is. Most think of Buffett as a great investor in stocks ... and he's all of that. But... Continue Reading Posted at 6:34 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 22 Gary Bourgeault March 26, 2007 What Welch's Belief in His People Led toThe last post on Welch we talked about his near spiritual belief in the promise that he believed resided in his people. Not only did it result in great leadership across the company, like... Continue Reading Posted at 6:06 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 56 Gary Bourgeault March 26, 2007 He Flew in the Face of ConventionThe story of Southwest Airlines (LUV), like all other great companies, was built upon simplicity and focused purpose that while understood, was almost impossible to be copied.That's a question that all business leaders need... Continue Reading Posted at 5:18 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 14 Gary Bourgeault March 26, 2007 What Type of People We NeedWhen looking for great people to work in our companies, sometimes we can look at some of the wrong areas to make the determination on what it is we want within them to enhance the... Continue Reading Posted at 2:44 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 71 Gary Bourgeault March 26, 2007 Turning Weaknesses into StrengthsRichard Branson had a problem as a child that caused him a lot of suffering throughout his school years ... he was dyslexic.At the time Branson went to school, the word didn't even exist, neither was it... Continue Reading Posted at 1:15 AM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 68 Gary Bourgeault March 26, 2007 What Happens Once You Make a DecisionWe've already talked about Walton's strategy to market to small towns and how that kept competitors off his back while he went about perfecting the Wal-Mart (WMT) way of doing business.What isn't known about... Continue Reading Posted at 12:20 AM \| Permalink \| Comments
Mar25	Warren Buffett and Secrets of Management - 98 Gary Bourgeault March 25, 2007 The Goal of Warren Buffett and Berkshire Hathaway (BRK-A)We always talk here about the importance of the simplicity of what the purpose of a company is. The reason why is that even big companies fall into the trap of getting... Continue Reading Posted at 11:59 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 21 Gary Bourgeault March 25, 2007 Welch Almost Had a Spiritual Belief in the Promise of His PeopleOne of the things that really made an impression upon Reuben Gutoff, who was an early mentor of Welch at General Electric (GE), was what Welch thought of as... Continue Reading Posted at 11:35 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 55 Gary Bourgeault March 25, 2007 Colleen Barrett, who has assumed Kelleher's title of president, summed up one of the primary reasons for the company's success: "Southwest is a cause, not a career."The last post on Kelleher and Southwest Airlines (LUV) we talked the company being... Continue Reading Posted at 6:23 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 13 Gary Bourgeault March 25, 2007 "The success is much, much deeper than just dollars and cents and buildings and assets. The real success of our Company is measured to me in the lives that have been touched and given hope."Mary Kay was talking about the... Continue Reading Posted at 3:43 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 70 Gary Bourgeault March 25, 2007 Why Branson Remains Primarily Private with His CompaniesWhile it's not unprecedented for someone that is very successful in business to say that they're not in it to make money, Branson in many ways goes beyond that. Having said that though,... Continue Reading Posted at 12:21 AM \| Permalink \| Comments
Mar24	The Common Sense Management of Sam Walton - 67 Gary Bourgeault March 24, 2007 His Simple Business Model and Legendary Focus Changed the WorldWhen we take a deep look into Sam Walton and what he accomplished through Wal-Mart (WMT), it goes far beyond low costs and low prices, as important as that is to... Continue Reading Posted at 11:40 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 97 Gary Bourgeault March 24, 2007 How Buffett Views GoodwillOne of the secrets that Buffett uses when evaluating businesses is the way he looks at goodwill. Most people look at goodwill of a business differently than Buffett.With companies that produce products, they obviously require resources to... Continue Reading Posted at 11:11 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 20 Gary Bourgeault March 24, 2007 "Food Fights" and "Free-for-alls"When's the last time you heard that a meeting of the to 30 officers of a company being called "food fights" or "free-for-alls?" Those are some of the words used to describe the quarterly sessions that General... Continue Reading Posted at 6:55 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 54 Gary Bourgeault March 24, 2007 Create a CauseThere was a time when Kelleher was giving a talk at a college business school when an attendant got up and commented on the answers that he was giving to questions being asked ... the student stated: "It... Continue Reading Posted at 5:19 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 12 Gary Bourgeault March 24, 2007 'Make me feel important!'Mary Kay had a powerful but simple philosophy when it came to dealing with people, she said: "I have learned to imagine an invisible sign around each person’s neck that says, 'Make me feel important!' I respond... Continue Reading Posted at 4:34 PM \| Permalink \| Comments
Mar23	Richard Branson - Lessons in Business, Management and Life - 69 Gary Bourgeault March 23, 2007 He Likes the Challenge of SurprisesLast post we talked about Branson's over-intrusiveness at times, but there's another side of him that many of his managers say more than make up for those moments.One manager said that one of the key... Continue Reading Posted at 11:10 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 68 Gary Bourgeault March 23, 2007 He Can be Intrusive at TimesWith Branson penchant for fun and hilarity, and the image he represents as the Virgin brand, you would think that he would be considered an extremely hands-off manager that simply let things go. On the... Continue Reading Posted at 11:02 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 66 Gary Bourgeault March 23, 2007 Sam Walton Changed the Way Business Was Done for the BetterWe've been talking a little about some of the bogus charges that have been made against Sam Walton and Wal-Mart, and how they've been handled. This post let's talk some... Continue Reading Posted at 8:26 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 96 Gary Bourgeault March 23, 2007 The Occasional Use of ArbitrageAlthough Buffett dislikes partaking in arbitrage positions, there are times when the company is so flush with money that he must put it to use in a way that will provide his goal of providing superior... Continue Reading Posted at 8:07 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 19 Gary Bourgeault March 23, 2007 Why Nimbleness is so Important to Jack WelchWhat's the answer to the question: What makes a big company? A little company. Every company starts off from the beginning and grows from there. What makes a little company able to compete with... Continue Reading Posted at 4:10 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 53 Gary Bourgeault March 23, 2007 "People who emphasize too strongly the fact that they're professionals usually are not very good at what they do."When Kelleher made the statement that those that overly emphasize that they're professionals usually are not very good at what they do,... Continue Reading Posted at 12:54 AM \| Permalink \| Comments
Mar22	Mary Kay Ash: She Never Wavered - 11 Gary Bourgeault March 22, 2007 "We need leaders who follow a moral compass that points in the right direction regardless of the trends."Considering the comment the Mary Kay said above, she definitely lived what she spoke. Even to this day, many people that were her... Continue Reading Posted at 11:26 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 65 Gary Bourgeault March 22, 2007 He Gave America What it WantedEven back when Sam Walton was still running Wal-Mart (WMT), he was faced with some of the baseless arguments that he was somehow having some type of negative effect upon the small-town landscape. He considered... Continue Reading Posted at 8:04 PM \| Permalink \| Comments
	Proctor & Gamble and Managing Satanic Associations Gary Bourgeault March 22, 2007 For a dozen years Proctor & Gamble (PG) had the unenviable task of pursuing a lawsuit to stamp out rumors that it had satanic associations; not your typical management problem.The story actually goes back much further than that to the... Continue Reading Posted at 6:55 PM \| Permalink \| Comments
	Wal-Mart Rewards Employees with over $500 Million in Bonuses Gary Bourgeault March 22, 2007 Saying they wanted to show off the accomplishments of their employees, Wal-Mart (WMT) announced the amount of bonuses that their associates would be receiving this year; a huge amount equalling over a half-billion dollars. They said the reason for letting... Continue Reading Posted at 4:08 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 95 Gary Bourgeault March 22, 2007 Buffett Believes in a Principled Approach to Executive PayBuffett has talked at times about how easy it can be to be misled by a management's return on capital. He said it this way: “Just quadruple the capital you commit to... Continue Reading Posted at 12:22 AM \| Permalink \| Comments
Mar21	The Jack Welch Management Mystique - 18 Gary Bourgeault March 21, 2007 You Never Know What a Few Hours Conversation Will DoLast post on Jack Welch we talked about the time that he quit General Electric and had already accepted an offer from another company.The determining factor in Welch staying with GE... Continue Reading Posted at 8:28 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 52 Gary Bourgeault March 21, 2007 Kelleher's Penchant for Laughter and fun is Part of Southwest's Culture With Kelleher we hear again how humor and fun play such a big role in the culture and success of a company. With Kelleher and Southwest, it was even... Continue Reading Posted at 3:18 PM \| Permalink \| Comments
Mar20	Richard Branson - Lessons in Business, Management and Life - 67 Gary Bourgeault March 20, 2007 He Can Work From Anywhere and Keep His FocusOn the surface, you could look at the comment above and say, "big deal," how could that be of any competitive advantage. On the contrary, in many ways it is.But first of... Continue Reading Posted at 11:00 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 10 Gary Bourgeault March 20, 2007 We need leaders who inspire and motivate rather than intimidate and manipulate; who live with people to know their problems and live with God in order to solve them.There has always been something that puzzles me about certain types of... Continue Reading Posted at 10:32 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 64 Gary Bourgeault March 20, 2007 The One Thing Wal-Mart isn't Good atWhile Wal-Mart (WMT) has pretty much found a tremendous balance between its systems, pricing and predictability, there is one area that they continually fall behind in, that could potentially cause them big problems in... Continue Reading Posted at 9:21 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 94 Gary Bourgeault March 20, 2007 Buffett is Skeptical About the Virtue of Most MergersWarren Buffett has always felt that many of the reasons given for mergers are less forthright than told by management or possibly even self-deception.He says that the majority of mergers are usually... Continue Reading Posted at 7:47 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 17 Gary Bourgeault March 20, 2007 Why Jack Welch Quit GE One TimeWhen Jack Welch had worked for General Electric (GE) for little more than a year back in 1961, the decided to quit his job as a junior engineer. He had even accepted a job... Continue Reading Posted at 6:46 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 51 Gary Bourgeault March 20, 2007 Make it Easy for People to Like YouThere was a time when Kelleher was in front of the board of the National Civil Aviation Review Commission, and he said this to them: "Because I am unable to perform competently any... Continue Reading Posted at 4:49 PM \| Permalink \| Comments
Mar19	Richard Branson - Lessons in Business, Management and Life - 66 Gary Bourgeault March 19, 2007 He has an Insatiable CuriosityWe've already talked about Richard Branson and how easily bored he gets and how that's a competitive advantage in his case. The other side of that is his insatiable curiosity; probably a reason he gets bored. When... Continue Reading Posted at 9:16 PM \| Permalink \| Comments
	First Superjumbo Jets Land in America Gary Bourgeault March 19, 2007 The troubled company European Aeronautic Defense and Space Co., maker of the largest passenger airplane in the world, the Airbus 380, landed its first planes in America to show it to the country and perform some tests.The plane was highly... Continue Reading Posted at 5:30 PM \| Permalink \| Comments
Mar18	Mary Kay Ash: She Never Wavered - 9 Gary Bourgeault March 18, 2007 "We need leaders who add value to the people and the organization they lead; who work for the benefit of others and not just for their own personal gain."This is one of those statements that are so simple and easy... Continue Reading Posted at 6:48 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 63 Gary Bourgeault March 18, 2007 The Extraordinary Charisma of Sam WaltonSam Walton may have seemed like a laid back country boy, and he was, but that didn't mean he didn't know how to motivate his people - he did.When Walton made it on the media... Continue Reading Posted at 6:28 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 94 Gary Bourgeault March 18, 2007 A Tale of Two Annual Company ReportsWarren Buffett has always said that candor is one of the key assets that great managment will have. But he's always spoken against some of the nonsense in annual reports that is passed off... Continue Reading Posted at 5:59 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 16 Gary Bourgeault March 18, 2007 "We're pebbles in an ocean, but he knows about us"Those were the words of Brian Nailor, a marketing manager of industrial products who attended a Croton-on-Hudson conference.The words he says are a tremendous testimony to the reach that welch had... Continue Reading Posted at 5:23 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 50 Gary Bourgeault March 18, 2007 Kelleher Didn't Make Long-range PlansThis is a really great insight into a little talked about area. From the beginning, let's make sure that we don't mistake long-range plans from a long-term outlook; they're two different things.A long-term outlook deals with... Continue Reading Posted at 12:31 AM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 65 Gary Bourgeault March 18, 2007 He Gets Bored Easily; with Virgin he can Constantly Reinvent HimselfWhen talking about the great managers and some of the unique things that have made them stand out over the years, one that is somewhat surprising is Richard Branson and... Continue Reading Posted at 12:06 AM \| Permalink \| Comments
Mar17	Mary Kay Ash: She Never Wavered - 8 Gary Bourgeault March 17, 2007 "People are definitely a company’s greatest asset"Along with all the great business leaders, Mary Kay understood that a company was only as good as the people it kept. I would just add a little change to that and say it's... Continue Reading Posted at 9:12 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 62 Gary Bourgeault March 17, 2007 Walton spent much of his career largely unnoticed by the public or the pressWith so much being written about Wal-Mart in the press, you'd think that Sam Walton had coverage all his life and was a huge business celebrity. On... Continue Reading Posted at 5:33 PM \| Permalink \| Comments
Mar16	The Jack Welch Management Mystique - 15 Gary Bourgeault March 16, 2007 Welch Understands Better Than Most the Value of SurpriseAnother one of Welch's strategies and habits he had for General Electric (GE) was his to do the unexpected. He would arrive at various businesses and offices unexpectedly to look at what was... Continue Reading Posted at 11:12 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 49 Gary Bourgeault March 16, 2007 Make your company extremely openHas the question even crossed your mind on how some of the great managers and companies - which are some of the most open ones as far as talking about what it is that makes them... Continue Reading Posted at 10:58 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 64 Gary Bourgeault March 16, 2007 He has trouble with authority, so the brand he came up with demands that he mock it.One thing that continually amazes me about the great managers is how much who they are ends up being expressed throughout the company. In... Continue Reading Posted at 8:02 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 92 Gary Bourgeault March 16, 2007 An Amazing Comment by Warren Buffett on ManagementFor those of you who may be thinking about getting into managment, or are wondering why you may not be as effective as you'd like to be, it would be good to look... Continue Reading Posted at 5:07 PM \| Permalink \| Comments
Mar15	The Jack Welch Management Mystique - 14 Gary Bourgeault March 15, 2007 He Took Corporate Events and Changed ThemThis particular story about Welch I particularly like because he took something that he couldn't really get out of and totally changed it around to use for his purposes.I'm referring to the corporate events that... Continue Reading Posted at 9:43 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 7 Gary Bourgeault March 15, 2007 "Dare to grow into your dreams and claim this as your motto: Let it be me."When Mary Kay Ash started her company, she understood that to reach her goals, she had to be a constant motivator and cheerleader. For people... Continue Reading Posted at 6:18 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 61 Gary Bourgeault March 15, 2007 Walton may have been the first true information-age CEOFor years Sam Walton operated under the radar of the vast majority of competitors, analysts and writers. Nobody took him too seriously (if they heard of him at all) until Forbes started... Continue Reading Posted at 2:24 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 60 Gary Bourgeault March 15, 2007 Walton Managing Growth Sam Walton was always flying underneath the radar, and when you finally noticed him, it was too late. This was the same in how he managed the growth of the company.Last post we talked about Walton's ability... Continue Reading Posted at 1:23 AM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 59 Gary Bourgeault March 15, 2007 Walton's Legendary Focus on Moving MerchandiseA lot of attention is put upon Walton's ability and determination to cut prices down to the lowest level he was able to. But there was another side of Walton that was the exact opposite,... Continue Reading Posted at 12:42 AM \| Permalink \| Comments
Mar14	Herb Kelleher: The Method Behind His Madness - 48 Gary Bourgeault March 14, 2007 Lasting Speaks for ItselfEvery great business and business leader will be challenged in every area to make the purpose of the company become a reality.In the airline business it's not only the same, but is so competitive that few have... Continue Reading Posted at 8:20 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 63 Gary Bourgeault March 14, 2007 Branson loves adventure, and his job provides plenty of it: from his quixotic attempt to save the high-speed Concorde to his dangerous transoceanic hot-air balloon races (he's been rescued four times by helicopter).One unique, underlying theme to many of the great... Continue Reading Posted at 6:37 PM \| Permalink \| Comments
	Patricia Dunn Has All Criminal Charges Dismissed by Judge Gary Bourgeault March 14, 2007 Patricia Dunn, formerly of Hewlett Packard (HPQ) has breathed as sigh of relief as a California judge dismissed all criminal charges against her. Along with that, the other co-defendents will plead guilty to lesser charges and may not get any... Continue Reading Posted at 4:27 PM \| Permalink \| Comments
Mar13	Warren Buffett and Secrets of Management - 91 Gary Bourgeault March 13, 2007 Boards and Managers The one thing about Buffett that never changes is his consistency in outlook. When it comes to his thoughts on boards and managers in the company his consistency comes through again.He's mentioned that concerning CEO performance that... Continue Reading Posted at 11:02 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 13 Gary Bourgeault March 13, 2007 Making the company "informal" means violating the chain of command, communicating across layers, paying people as if they worked ... for a demanding entrepreneur where nearly everyone knows the boss. The strength of Jack Welch's personality and charisma sometimes hid... Continue Reading Posted at 8:05 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 6 Gary Bourgeault March 13, 2007 If you act enthusiastic, you become enthusiastic – and it spreads like wildfire!Many years ago, if I would have heard the statement above, I would have cringed and been extremely skeptical about it being workable. Over the years I've found... Continue Reading Posted at 5:43 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 58 Gary Bourgeault March 13, 2007 Walton Was on a CrusadeSam Walton knew that he wanted to be a retail discounter from early in his career. Once the decided on that he was like a crusader looking for ways to drive costs out of the merchandising... Continue Reading Posted at 12:15 AM \| Permalink \| Comments
Mar12	Herb Kelleher: The Method Behind His Madness - 47 Gary Bourgeault March 12, 2007 Constantly Talk to CustomersWhen it comes to truly understanding how we are doing in our businesses, there's nothing better than asking our customers. Kelleher was almost fanatical about it. He is legendary for boarding airplanes all the time and talking... Continue Reading Posted at 9:14 PM \| Permalink \| Comments
	Study Shows that Office Workers Most at Risk for Blood Clots Gary Bourgeault March 12, 2007 A study by New Zealand Professor Richard Beasley of the Medical Research Institute in Wellington found that office workers sitting for long hours at their desk may be more apt to have fatal blood clots than passengers that travel on... Continue Reading Posted at 6:14 PM \| Permalink \| Comments
	Google's Commitment to its People Gary Bourgeault March 12, 2007 When we talk about the various things we can do to make our workplaces better for our people, this story about Google (GOOG) comes to the forefront as an excellent example.What I like especially about this isn't simply that they... Continue Reading Posted at 5:03 PM \| Permalink \| Comments
Mar11	Starbucks and Former Beatle Paul MCCartney? Gary Bourgeault March 11, 2007 I'm starting to wonder what it is that Starbucks (SBUX) is trying to accomplish and how it connects to their core purpose. Just about a week ago their CEO sent them a letter calling them to go back to the... Continue Reading Posted at 10:05 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 62 Gary Bourgeault March 11, 2007 Branson's Career Feeds His Passions, Holds His Interest, Incorporates His Family, Allows For His QuirksLast post on Branson we talked about the greatest accomplishment for Branson was in creating the type of life he did for himself. I wanted to... Continue Reading Posted at 7:36 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 90 Gary Bourgeault March 11, 2007 We Would Rather See Berkshire’s Stock Price at a Fair Level Than a High LevelThose of us that have followed Warren Buffett and his way of looking at and running things, know that he really doesn't like the Berkshire Hathaway... Continue Reading Posted at 7:16 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 12 Gary Bourgeault March 11, 2007 Manage it Like a Small OrganizationWelch used to use a metaphor for General Electric (GE), calling it the "grocery store." Even though it may sound odd or even silly, it helped Welch to wrap his mind around the colossus in... Continue Reading Posted at 5:04 PM \| Permalink \| Comments
Mar10	Mary Kay Ash: She Never Wavered - 5 Gary Bourgeault March 10, 2007 The greatest pollution problem we face today is negativityMary Kay Ash had a seemingly endless amount of postive enthusiasm. She didn't seem to let anything get in her way of getting what she wanted done.In addition to saying that "The... Continue Reading Posted at 9:52 PM \| Permalink \| Comments
	U.S. Labor Market Still Healthy - 97,000 Jobs Added Gary Bourgeault March 10, 2007 The unemployment rate dropped last month from 4.6 percent to 4.5 percent according to the Bureau of Labor Statistics, as jobs increased by 97,000 for the month. The Bureau also reported that hourly wages rose as well, evidence the the... Continue Reading Posted at 6:33 PM \| Permalink \| Comments
Mar 9	The Common Sense Management of Sam Walton - 57 Gary Bourgeault March 9, 2007 Walton was too Far Off the Beaten Path to Attract the Attention of Competitors or SuppliersSam Walton didn't open his first Wal-Mart (WMT) store until he was 44, on July 2, 1962. In an amazing year, the industry came from... Continue Reading Posted at 11:10 PM \| Permalink \| Comments
	Why Open Communication is so Important Gary Bourgeault March 9, 2007 When eBay (EBAY) implied that cable executives had been obstacles to the new Media Marketplace they've created and been pushing, it didn't fly too well with those hearing they were being pointed out as the problem.A lot of the problem... Continue Reading Posted at 8:55 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 46 Gary Bourgeault March 9, 2007 If you Look at the Numbers, Southwest is Doing Things RightWhen we consider looking at numbers, there's one great thing about them: they tell an objective story of the subjective work being done on a daily basis within a company.It's... Continue Reading Posted at 4:17 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 61 Gary Bourgeault March 9, 2007 Branson's Greatest Business Feat, Perhaps, has been to Engineer a Breathtaking Life for Himself Some people have commented on Branson saying that perhaps his greatest accomplishment was to "engineer a breathtaking life for himself."While I don't disagree that he's done... Continue Reading Posted at 3:31 PM \| Permalink \| Comments
Mar 8	Warren Buffett and Secrets of Management - 89 Gary Bourgeault March 8, 2007 “The CEO who misleads others in public may eventually mislead himself in private.”In the last post we talked about Jack Welch and the power of informality that was one of the secrets of the great success of General Electric. Along... Continue Reading Posted at 11:30 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 11 Gary Bourgeault March 8, 2007 He Created Something Unique at a Big Company: Informality There are still a lot of people that scratch their heads and look surprised that informality had such a big impact at General Electric (GE).Jack Welch lived to nuke the nine... Continue Reading Posted at 9:41 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 4 Gary Bourgeault March 8, 2007 "Every failure, obstacle or hardship is an opportunity in disguise."Many times in our business or management careers, we face obstacles that seem to be insurmountable. But in the vast majority of cases, if not all of them, they can be... Continue Reading Posted at 9:23 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 56 Gary Bourgeault March 8, 2007 Believe it or not, Discount Retailing was Controversial in the 1950sSomething that's hard to understand in today's competitive marketplace, is that in the 1950s, discount retailing was considered controversial and a disruptor in the marketplace.It threatened all the existing powers... Continue Reading Posted at 7:49 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 45 Gary Bourgeault March 8, 2007 Sticking With ItHerb Kelleher was no different than anyone else when it came to making a business successful. When the company took its first order for a Boeing 737, it began a four-year legal battle to get the company off... Continue Reading Posted at 5:21 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 60 Gary Bourgeault March 8, 2007 But if you were able to trade places with any corporate chieftain, wouldn't it be Richard Branson?The above question asked by a writer is interesting in that it points to the fun part of business and life. Like Branson said,... Continue Reading Posted at 2:52 PM \| Permalink \| Comments
Mar 7	Warren Buffett and Secrets of Management - 88 Gary Bourgeault March 7, 2007 If a Business Generates Some Cash Berkshire Won't Sell ItEverything that Warren Buffett does is related to balance. Not in the negative sense of the word where some nothing is ever tried or a risk never taken, but in the... Continue Reading Posted at 10:12 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 10 Gary Bourgeault March 7, 2007 He Knew the Company and Those Who Work for it Like No OtherWe've talked a little about Jack Welch and a major reason how he was able to keep such a strong handle on the vast empire that was General... Continue Reading Posted at 8:10 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 3 Gary Bourgeault March 7, 2007 I believe that each of us has God-given talents within us waiting to be brought to fruitionThe thing I like about Mary Kay's belief that everyone has talents within them, is that it creates the atmosphere and business culture which... Continue Reading Posted at 7:51 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 55 Gary Bourgeault March 7, 2007 He's been accused of pitting people against each otherFor the most part, Sam Walton has been admired by the vast majority of people the new him and what he had accomplished. One of the few spots that are on his... Continue Reading Posted at 4:27 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 44 Gary Bourgeault March 7, 2007 He Knew How to Get PublicityThere's one thing that occurs over and over again with some of the great business leaders that are presented on managersrealm, and that is that they knew how to get free publicity. It wasn't only... Continue Reading Posted at 4:07 PM \| Permalink \| Comments
Mar 6	Richard Branson - Lessons in Business, Management and Life - 59 Gary Bourgeault March 6, 2007 Richard Branson: What a LifeWhen Richard Branson looks at life, he doesn't look at it in compartments or divided, he looks at it as a whole. When asked about work and leisure he responded saying, "I don't think of work... Continue Reading Posted at 11:00 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 87 Gary Bourgeault March 6, 2007 Acquisitions are not made for reasons other than boosting long-term performanceWarren Buffett never did a thing or made a move that wasn't related to increasing the long-term performance of the company. If you follow a number of companies and watch... Continue Reading Posted at 7:31 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 9 Gary Bourgeault March 6, 2007 The most talent-rich management bench in the worldNo company leader could ever boast that they are the only reason for the overall success of the company. No great leader denies that it is the great people with them that make... Continue Reading Posted at 6:59 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 2 Gary Bourgeault March 6, 2007 Don’t Limit YourselfPart of the strategy of Mary Kay was to help people remove barriers so they could achieve success. Of course her company was built around sales, and in light of that, she had many things she said to... Continue Reading Posted at 3:33 PM \| Permalink \| Comments
Mar 5	The Common Sense Management of Sam Walton - 54 Gary Bourgeault March 5, 2007 Technology Can Only Do So MuchWhile anyone that knows Wal-Mart (WMT) understands that they have a strong technological base and have one of most up-to-date merchandising systems in the world. Interestingly enough though, this never impressed Sam Walton at all.He... Continue Reading Posted at 11:21 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 43 Gary Bourgeault March 5, 2007 A Leader is the Business CultureThere has never been a question concerning Herb Kelleher, that he was the one that set the tone of the unique business culture of Southwest Airlines (LUV). He never had to teach verbally what the... Continue Reading Posted at 11:03 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 58 Gary Bourgeault March 5, 2007 Let's Not Take Ourselves too SeriouslyBranson wrote a hilarious letter to a competitor one time because he was getting very vocal and negative about Branson and Virgin Airlines. An excerpt from the letter said this: "Even if some of your... Continue Reading Posted at 9:56 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 86 Gary Bourgeault March 5, 2007 The Berkshire ContradictionsWhen you read about Warren Buffett and Berkshire Hathaway (BRK-A), there are times when everything seems to be a contradiction. You read about the strategy of understanding companies and being able to project long-term profits based upon that... Continue Reading Posted at 6:36 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 8 Gary Bourgeault March 5, 2007 "I don't give a damn if we get a little bureaucracy as long as we get the results. If it bothers you, yell at it. Kick it. Scream at it. Break it!"All of the above quote was from when Welch's... Continue Reading Posted at 6:18 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 1 Gary Bourgeault March 5, 2007 Put God first, family second and career thirdMary Kay Ash was one of the great examples of someone believing in something and never moving off of it. She built her company based upon several simple principles that she repeated over... Continue Reading Posted at 3:37 PM \| Permalink \| Comments
Mar 4	The Common Sense Management of Sam Walton - 53 Gary Bourgeault March 4, 2007 Whoever said 'Retail is Detail' is absolutely 100 percent right I've managed some very large retail companies in the past, and when contrasted against service businesses and sales companies, retail is by far the most detailed business a person can... Continue Reading Posted at 7:45 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 42 Gary Bourgeault March 4, 2007 They'll Try to Stop You Before You're BornIf you have competitors that you can potentially make big inroads to their businesses, there is a very good chance that they'll try to choke off your business; eithe before it births, or right... Continue Reading Posted at 7:16 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 57 Gary Bourgeault March 4, 2007 Branson Loves His New BabyAt the edge of the Mojave Airport lies Hangar 78, part of a bunch of buildings that are clean and lit up like a hospital surgery room. Even though the proprietor of the business and airport... Continue Reading Posted at 6:45 PM \| Permalink \| Comments
	Has Starbucks Lost its Way? Gary Bourgeault March 4, 2007 We talk all the time at ManagersRealm about remaining true to the purpose of our company. The story of Starbucks is one that shows what can happen to a dynamic powerhouse when they take their eyes off of what makes... Continue Reading Posted at 5:39 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 85 Gary Bourgeault March 4, 2007 General accounting practices don’t always accurately represent Berkshire’s consolidated earnings statement.Here's one of those areas that can get someone going, but we'll look at it objectively. When considering accounting practices, it is something that must be carefully scrutinized by leaders.... Continue Reading Posted at 4:31 PM \| Permalink \| Comments
Mar 3	The Jack Welch Management Mystique - 7 Gary Bourgeault March 3, 2007 Above all else, he's a fierce believer in the power of his peopleThere is nothing that Jack Welch did half way. When it came to his people, he had a strong, fierce belief in their power to do the job... Continue Reading Posted at 10:34 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 52 Gary Bourgeault March 3, 2007 Negotiate hard with your vendors/suppliersAn area that has had some negative comments concerning Walton and Wal-Mart (WMT) has been in relationship to their vendors. To this day some people complain that Wal-Mart asks too much of them in reference to... Continue Reading Posted at 10:20 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 41 Gary Bourgeault March 3, 2007 Credited Employees for Southwest's Great SuccessThere are always two different ways of looking at what the management at a company says. They do it because it's true and right to say, or they say things as a strategy because someone... Continue Reading Posted at 8:51 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 56 Gary Bourgeault March 3, 2007 Branson is a billionaire with a missionAnybody that has followed Richard Branson through the years, knows that he's gone through some type of change recently. It's not so much that he's necessarily changed himself, he's still going after things like... Continue Reading Posted at 7:11 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 84 Gary Bourgeault March 3, 2007 Back to SimplicityThis is a topic that I never tire of talking about as so many in management and business attempt to complicate things to make it look like everyone needs their services so badly. But look at Warren Buffett... Continue Reading Posted at 5:37 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 6 Gary Bourgeault March 3, 2007 He encourages near-brutal candor in the meetings he holds to guide the company through each work year.As I've studied many of the great managers, I'm still amazed at how many times the way they do things is adopted, while not... Continue Reading Posted at 3:41 PM \| Permalink \| Comments
Mar 2	A Company That Can Meet All Your Posting Compliance Needs Gary Bourgeault March 2, 2007 Sponsored ReviewThe constantly changing federal workplace regulations and rules are at minimum, hard to keep up with, and require constant vigilance and posting to comply with current laws that are being passed or recently passed. A company which has made... Continue Reading Posted at 5:37 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 51 Gary Bourgeault March 2, 2007 Trial And ErrorWhen you think of some of the foibles that people in business make, it's funny to see those types of things happen again and again. Sometimes we don't understand the consequences of what we think a great idea... Continue Reading Posted at 5:17 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 40 Gary Bourgeault March 2, 2007 Hindsight Always Makes Things Look EasierLike a number of the managers we talk about here, when you look at the businesses they started or ran, many times talking about their impact and successes can make the process look easy and... Continue Reading Posted at 4:59 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 55 Gary Bourgeault March 2, 2007 You Never Know Where Things Will LeadConcerning the upcoming Virgin Galactic venture, there's some interesting things concerning its potential that we can look at. For the venture itself, Branson said that "If we can make space fun, the rest will... Continue Reading Posted at 4:12 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 83 Gary Bourgeault March 2, 2007 Managing ExpectationsTo me, one of the most under-appreciated and misunderstood management skills is in managing expectations. I'm not talking about using the old under-promise and over-perform strategy ... although that's legitimate. I'm talking about truly understanding the marketplace, growth and... Continue Reading Posted at 3:33 PM \| Permalink \| Comments
Mar 1	The Jack Welch Management Mystique - 5 Gary Bourgeault March 1, 2007 He had an Amazing Attention to DetailWhen I was a lot younger, I had a good friend that was a very good artist. I remember him talking one time about some of what he considered the most important aspect to... Continue Reading Posted at 11:58 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 50 Gary Bourgeault March 1, 2007 Study and Question the Management of the BusinessSam Walton was asked one time on whether there could ever be another Wal-Mart (WMT) type story that could happen in the business world again. His answer was not only was there a great... Continue Reading Posted at 11:12 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 39 Gary Bourgeault March 1, 2007 Kelleher Walked the TalkWhen Southwest Airlines (LUV) began, they only had four planes and less than 70 employees. It didn't take them long to run into financial trouble, which brought forth a dilemma that would challenge the beliefs of Kelleher and... Continue Reading Posted at 7:49 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 54 Gary Bourgeault March 1, 2007 Spies Hiding ... to Find out Why We're so SuccessfulOne of the most fascinating parts of business and management to me is seeing excellent companies and business leaders emerge, and then all the copycats come out thinking that they can... Continue Reading Posted at 5:36 PM \| Permalink \| Comments
	Warren Buffett Looking for Investment Protégé Gary Bourgeault March 1, 2007 In the eagerly awaited annual report of Warren Buffett concerning Berkshire Hathaway (BRK-A), he announced that he would be looking for a person or two to train and raise up to succeed him when the time arises concerning the investment... Continue Reading Posted at 4:09 PM \| Permalink \| Comments

« February 2007 | Main | April 2007 »

Mar31	The Common Sense Management of Sam Walton - 71 Gary Bourgeault March 31, 2007 Know More: Sam Walton always low prices, Break the Rules, Business Leaders, Common Sense Management, conventional wisdom, customer focus, customer service, Great Leader, Great Managers, Innovation, Inspiration, motivation, Passion, Wal-Mart When Underfinancing and Undercapitalization is Good There have been a number of studies that say one of the reasons that new businesses fail is they are underfinanced or undercapitalized. While there is some truth to that, there is a whole other side of the issue that is very powerful to successful business owners. But first let me say concerning companies that are flush with money from the beginning: It is just as dangerous for them as those without much money. The reason why is they simply throw away all semblance of fiscal responsibility and go through the money because it's there. Yet there is still a more important reason why too much money can be bad. Walton said it like this: "Many of our best opportunities were created out of necessity. The things that we were forced to learn and do, because we started out underfinanced and undercapitalized ..." That is an excellent assessment of the overall situation for businesses, no matter what stage they're at. Continue Reading Posted at 5:09 PM \| Permalink \| Comments
Mar30	The Jack Welch Management Mystique - 24 Gary Bourgeault March 30, 2007 Welch's Ability to Permeate the CompanyWhen it came to the initiatives and ideas that came about in all the various connections and contace and communications that Welch made, one of the underlying reasons they were so effective wasn't only what... Continue Reading Posted at 8:04 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 58 Gary Bourgeault March 30, 2007 Who had Access to KelleherIn a somewhat funny story, a vice president in the company came to Kelleher complaining that customers, baggage handlers, pilons and gate agents had more access to him than he did.Kelleher's response was, "Let me explain... Continue Reading Posted at 3:36 PM \| Permalink \| Comments
Mar29	Mary Kay Ash: She Never Wavered - 16 Gary Bourgeault March 29, 2007 "Many women have made the mistake of changing their beliefs to accommodate their work."There are a lot of times in the media when we hear that someone has sold out. What is usually meant by that is their core beliefs... Continue Reading Posted at 11:28 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 70 Gary Bourgeault March 29, 2007 Belief Versus ActionWe have heard for decades the mantra of believing in what you're doing and loving it, as a way that can definitely lead to success. I have no qualms about that, but it definitely takes more than that... Continue Reading Posted at 8:16 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 100 Gary Bourgeault March 29, 2007 Arbitrary DiversificationThere are a lot of things one can learn from Warren Buffett and how he invests, if you understand the underlying principles, and apply them to management.Let's take his usual mantra about his holding period for stocks. He said,... Continue Reading Posted at 4:13 PM \| Permalink \| Comments
Mar28	The Jack Welch Management Mystique - 23 Gary Bourgeault March 28, 2007 Why Lean is so MeanOnce Jack Welch instituted the Six Sigma program into General Electric (GE), it became a badge of honor to be invited to partake in the meeting where the top 30 executives in the company, including Welch,... Continue Reading Posted at 9:08 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 57 Gary Bourgeault March 28, 2007 Kelleher Stayed Focused on Core PurposeAnother key competitive advantage that Kelleher added to Southwest (LUV) was that he stayed focused on the core purpose of the company. This was actually unique in the airline business.A number of their competitors like... Continue Reading Posted at 3:24 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 15 Gary Bourgeault March 28, 2007 Her Dream Wasn't an IllusionWhen Mary Kay talked about her company and the dream she had of creating opportunities for women, it wasn't an illusion that would happen for any woman that simply signed on. She knew what it would... Continue Reading Posted at 12:41 AM \| Permalink \| Comments
Mar27	Richard Branson - Lessons in Business, Management and Life - 72 Gary Bourgeault March 27, 2007 I Believe in all My Companies 100%One of the secrets that Richard Branson has that makes his seemingly endless wanderings continue, is his belief in the companies he has created. He said: "Ive had to create companies that I believe... Continue Reading Posted at 8:27 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 69 Gary Bourgeault March 27, 2007 His Great Desire to Make Customers HappyThe focus of Walton upon making his customers happy was so great, that he was almost fired one time. The problem with his focus was that he neglected his other responsibilities like keeping the... Continue Reading Posted at 3:17 PM \| Permalink \| Comments
Mar26	Multitasking Can be Harmful to Your Business Gary Bourgeault March 26, 2007 We've heard all the stories about the world of multitasking and the way of life it's becoming for a lot of people. Recent reports, says the New York Times, contradict the value that it supposedly represents.Professionals like neuroscientists, psychologists and... Continue Reading Posted at 9:55 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 99 Gary Bourgeault March 26, 2007 Why Buffett Prefers to Buy Companies It's interesting when thinking about Buffett to consider what his preferred way of doing business really is. Most think of Buffett as a great investor in stocks ... and he's all of that. But... Continue Reading Posted at 6:34 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 22 Gary Bourgeault March 26, 2007 What Welch's Belief in His People Led toThe last post on Welch we talked about his near spiritual belief in the promise that he believed resided in his people. Not only did it result in great leadership across the company, like... Continue Reading Posted at 6:06 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 56 Gary Bourgeault March 26, 2007 He Flew in the Face of ConventionThe story of Southwest Airlines (LUV), like all other great companies, was built upon simplicity and focused purpose that while understood, was almost impossible to be copied.That's a question that all business leaders need... Continue Reading Posted at 5:18 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 14 Gary Bourgeault March 26, 2007 What Type of People We NeedWhen looking for great people to work in our companies, sometimes we can look at some of the wrong areas to make the determination on what it is we want within them to enhance the... Continue Reading Posted at 2:44 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 71 Gary Bourgeault March 26, 2007 Turning Weaknesses into StrengthsRichard Branson had a problem as a child that caused him a lot of suffering throughout his school years ... he was dyslexic.At the time Branson went to school, the word didn't even exist, neither was it... Continue Reading Posted at 1:15 AM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 68 Gary Bourgeault March 26, 2007 What Happens Once You Make a DecisionWe've already talked about Walton's strategy to market to small towns and how that kept competitors off his back while he went about perfecting the Wal-Mart (WMT) way of doing business.What isn't known about... Continue Reading Posted at 12:20 AM \| Permalink \| Comments
Mar25	Warren Buffett and Secrets of Management - 98 Gary Bourgeault March 25, 2007 The Goal of Warren Buffett and Berkshire Hathaway (BRK-A)We always talk here about the importance of the simplicity of what the purpose of a company is. The reason why is that even big companies fall into the trap of getting... Continue Reading Posted at 11:59 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 21 Gary Bourgeault March 25, 2007 Welch Almost Had a Spiritual Belief in the Promise of His PeopleOne of the things that really made an impression upon Reuben Gutoff, who was an early mentor of Welch at General Electric (GE), was what Welch thought of as... Continue Reading Posted at 11:35 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 55 Gary Bourgeault March 25, 2007 Colleen Barrett, who has assumed Kelleher's title of president, summed up one of the primary reasons for the company's success: "Southwest is a cause, not a career."The last post on Kelleher and Southwest Airlines (LUV) we talked the company being... Continue Reading Posted at 6:23 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 13 Gary Bourgeault March 25, 2007 "The success is much, much deeper than just dollars and cents and buildings and assets. The real success of our Company is measured to me in the lives that have been touched and given hope."Mary Kay was talking about the... Continue Reading Posted at 3:43 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 70 Gary Bourgeault March 25, 2007 Why Branson Remains Primarily Private with His CompaniesWhile it's not unprecedented for someone that is very successful in business to say that they're not in it to make money, Branson in many ways goes beyond that. Having said that though,... Continue Reading Posted at 12:21 AM \| Permalink \| Comments
Mar24	The Common Sense Management of Sam Walton - 67 Gary Bourgeault March 24, 2007 His Simple Business Model and Legendary Focus Changed the WorldWhen we take a deep look into Sam Walton and what he accomplished through Wal-Mart (WMT), it goes far beyond low costs and low prices, as important as that is to... Continue Reading Posted at 11:40 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 97 Gary Bourgeault March 24, 2007 How Buffett Views GoodwillOne of the secrets that Buffett uses when evaluating businesses is the way he looks at goodwill. Most people look at goodwill of a business differently than Buffett.With companies that produce products, they obviously require resources to... Continue Reading Posted at 11:11 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 20 Gary Bourgeault March 24, 2007 "Food Fights" and "Free-for-alls"When's the last time you heard that a meeting of the to 30 officers of a company being called "food fights" or "free-for-alls?" Those are some of the words used to describe the quarterly sessions that General... Continue Reading Posted at 6:55 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 54 Gary Bourgeault March 24, 2007 Create a CauseThere was a time when Kelleher was giving a talk at a college business school when an attendant got up and commented on the answers that he was giving to questions being asked ... the student stated: "It... Continue Reading Posted at 5:19 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 12 Gary Bourgeault March 24, 2007 'Make me feel important!'Mary Kay had a powerful but simple philosophy when it came to dealing with people, she said: "I have learned to imagine an invisible sign around each person’s neck that says, 'Make me feel important!' I respond... Continue Reading Posted at 4:34 PM \| Permalink \| Comments
Mar23	Richard Branson - Lessons in Business, Management and Life - 69 Gary Bourgeault March 23, 2007 He Likes the Challenge of SurprisesLast post we talked about Branson's over-intrusiveness at times, but there's another side of him that many of his managers say more than make up for those moments.One manager said that one of the key... Continue Reading Posted at 11:10 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 68 Gary Bourgeault March 23, 2007 He Can be Intrusive at TimesWith Branson penchant for fun and hilarity, and the image he represents as the Virgin brand, you would think that he would be considered an extremely hands-off manager that simply let things go. On the... Continue Reading Posted at 11:02 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 66 Gary Bourgeault March 23, 2007 Sam Walton Changed the Way Business Was Done for the BetterWe've been talking a little about some of the bogus charges that have been made against Sam Walton and Wal-Mart, and how they've been handled. This post let's talk some... Continue Reading Posted at 8:26 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 96 Gary Bourgeault March 23, 2007 The Occasional Use of ArbitrageAlthough Buffett dislikes partaking in arbitrage positions, there are times when the company is so flush with money that he must put it to use in a way that will provide his goal of providing superior... Continue Reading Posted at 8:07 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 19 Gary Bourgeault March 23, 2007 Why Nimbleness is so Important to Jack WelchWhat's the answer to the question: What makes a big company? A little company. Every company starts off from the beginning and grows from there. What makes a little company able to compete with... Continue Reading Posted at 4:10 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 53 Gary Bourgeault March 23, 2007 "People who emphasize too strongly the fact that they're professionals usually are not very good at what they do."When Kelleher made the statement that those that overly emphasize that they're professionals usually are not very good at what they do,... Continue Reading Posted at 12:54 AM \| Permalink \| Comments
Mar22	Mary Kay Ash: She Never Wavered - 11 Gary Bourgeault March 22, 2007 "We need leaders who follow a moral compass that points in the right direction regardless of the trends."Considering the comment the Mary Kay said above, she definitely lived what she spoke. Even to this day, many people that were her... Continue Reading Posted at 11:26 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 65 Gary Bourgeault March 22, 2007 He Gave America What it WantedEven back when Sam Walton was still running Wal-Mart (WMT), he was faced with some of the baseless arguments that he was somehow having some type of negative effect upon the small-town landscape. He considered... Continue Reading Posted at 8:04 PM \| Permalink \| Comments
	Proctor & Gamble and Managing Satanic Associations Gary Bourgeault March 22, 2007 For a dozen years Proctor & Gamble (PG) had the unenviable task of pursuing a lawsuit to stamp out rumors that it had satanic associations; not your typical management problem.The story actually goes back much further than that to the... Continue Reading Posted at 6:55 PM \| Permalink \| Comments
	Wal-Mart Rewards Employees with over $500 Million in Bonuses Gary Bourgeault March 22, 2007 Saying they wanted to show off the accomplishments of their employees, Wal-Mart (WMT) announced the amount of bonuses that their associates would be receiving this year; a huge amount equalling over a half-billion dollars. They said the reason for letting... Continue Reading Posted at 4:08 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 95 Gary Bourgeault March 22, 2007 Buffett Believes in a Principled Approach to Executive PayBuffett has talked at times about how easy it can be to be misled by a management's return on capital. He said it this way: “Just quadruple the capital you commit to... Continue Reading Posted at 12:22 AM \| Permalink \| Comments
Mar21	The Jack Welch Management Mystique - 18 Gary Bourgeault March 21, 2007 You Never Know What a Few Hours Conversation Will DoLast post on Jack Welch we talked about the time that he quit General Electric and had already accepted an offer from another company.The determining factor in Welch staying with GE... Continue Reading Posted at 8:28 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 52 Gary Bourgeault March 21, 2007 Kelleher's Penchant for Laughter and fun is Part of Southwest's Culture With Kelleher we hear again how humor and fun play such a big role in the culture and success of a company. With Kelleher and Southwest, it was even... Continue Reading Posted at 3:18 PM \| Permalink \| Comments
Mar20	Richard Branson - Lessons in Business, Management and Life - 67 Gary Bourgeault March 20, 2007 He Can Work From Anywhere and Keep His FocusOn the surface, you could look at the comment above and say, "big deal," how could that be of any competitive advantage. On the contrary, in many ways it is.But first of... Continue Reading Posted at 11:00 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 10 Gary Bourgeault March 20, 2007 We need leaders who inspire and motivate rather than intimidate and manipulate; who live with people to know their problems and live with God in order to solve them.There has always been something that puzzles me about certain types of... Continue Reading Posted at 10:32 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 64 Gary Bourgeault March 20, 2007 The One Thing Wal-Mart isn't Good atWhile Wal-Mart (WMT) has pretty much found a tremendous balance between its systems, pricing and predictability, there is one area that they continually fall behind in, that could potentially cause them big problems in... Continue Reading Posted at 9:21 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 94 Gary Bourgeault March 20, 2007 Buffett is Skeptical About the Virtue of Most MergersWarren Buffett has always felt that many of the reasons given for mergers are less forthright than told by management or possibly even self-deception.He says that the majority of mergers are usually... Continue Reading Posted at 7:47 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 17 Gary Bourgeault March 20, 2007 Why Jack Welch Quit GE One TimeWhen Jack Welch had worked for General Electric (GE) for little more than a year back in 1961, the decided to quit his job as a junior engineer. He had even accepted a job... Continue Reading Posted at 6:46 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 51 Gary Bourgeault March 20, 2007 Make it Easy for People to Like YouThere was a time when Kelleher was in front of the board of the National Civil Aviation Review Commission, and he said this to them: "Because I am unable to perform competently any... Continue Reading Posted at 4:49 PM \| Permalink \| Comments
Mar19	Richard Branson - Lessons in Business, Management and Life - 66 Gary Bourgeault March 19, 2007 He has an Insatiable CuriosityWe've already talked about Richard Branson and how easily bored he gets and how that's a competitive advantage in his case. The other side of that is his insatiable curiosity; probably a reason he gets bored. When... Continue Reading Posted at 9:16 PM \| Permalink \| Comments
	First Superjumbo Jets Land in America Gary Bourgeault March 19, 2007 The troubled company European Aeronautic Defense and Space Co., maker of the largest passenger airplane in the world, the Airbus 380, landed its first planes in America to show it to the country and perform some tests.The plane was highly... Continue Reading Posted at 5:30 PM \| Permalink \| Comments
Mar18	Mary Kay Ash: She Never Wavered - 9 Gary Bourgeault March 18, 2007 "We need leaders who add value to the people and the organization they lead; who work for the benefit of others and not just for their own personal gain."This is one of those statements that are so simple and easy... Continue Reading Posted at 6:48 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 63 Gary Bourgeault March 18, 2007 The Extraordinary Charisma of Sam WaltonSam Walton may have seemed like a laid back country boy, and he was, but that didn't mean he didn't know how to motivate his people - he did.When Walton made it on the media... Continue Reading Posted at 6:28 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 94 Gary Bourgeault March 18, 2007 A Tale of Two Annual Company ReportsWarren Buffett has always said that candor is one of the key assets that great managment will have. But he's always spoken against some of the nonsense in annual reports that is passed off... Continue Reading Posted at 5:59 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 16 Gary Bourgeault March 18, 2007 "We're pebbles in an ocean, but he knows about us"Those were the words of Brian Nailor, a marketing manager of industrial products who attended a Croton-on-Hudson conference.The words he says are a tremendous testimony to the reach that welch had... Continue Reading Posted at 5:23 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 50 Gary Bourgeault March 18, 2007 Kelleher Didn't Make Long-range PlansThis is a really great insight into a little talked about area. From the beginning, let's make sure that we don't mistake long-range plans from a long-term outlook; they're two different things.A long-term outlook deals with... Continue Reading Posted at 12:31 AM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 65 Gary Bourgeault March 18, 2007 He Gets Bored Easily; with Virgin he can Constantly Reinvent HimselfWhen talking about the great managers and some of the unique things that have made them stand out over the years, one that is somewhat surprising is Richard Branson and... Continue Reading Posted at 12:06 AM \| Permalink \| Comments
Mar17	Mary Kay Ash: She Never Wavered - 8 Gary Bourgeault March 17, 2007 "People are definitely a company’s greatest asset"Along with all the great business leaders, Mary Kay understood that a company was only as good as the people it kept. I would just add a little change to that and say it's... Continue Reading Posted at 9:12 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 62 Gary Bourgeault March 17, 2007 Walton spent much of his career largely unnoticed by the public or the pressWith so much being written about Wal-Mart in the press, you'd think that Sam Walton had coverage all his life and was a huge business celebrity. On... Continue Reading Posted at 5:33 PM \| Permalink \| Comments
Mar16	The Jack Welch Management Mystique - 15 Gary Bourgeault March 16, 2007 Welch Understands Better Than Most the Value of SurpriseAnother one of Welch's strategies and habits he had for General Electric (GE) was his to do the unexpected. He would arrive at various businesses and offices unexpectedly to look at what was... Continue Reading Posted at 11:12 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 49 Gary Bourgeault March 16, 2007 Make your company extremely openHas the question even crossed your mind on how some of the great managers and companies - which are some of the most open ones as far as talking about what it is that makes them... Continue Reading Posted at 10:58 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 64 Gary Bourgeault March 16, 2007 He has trouble with authority, so the brand he came up with demands that he mock it.One thing that continually amazes me about the great managers is how much who they are ends up being expressed throughout the company. In... Continue Reading Posted at 8:02 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 92 Gary Bourgeault March 16, 2007 An Amazing Comment by Warren Buffett on ManagementFor those of you who may be thinking about getting into managment, or are wondering why you may not be as effective as you'd like to be, it would be good to look... Continue Reading Posted at 5:07 PM \| Permalink \| Comments
Mar15	The Jack Welch Management Mystique - 14 Gary Bourgeault March 15, 2007 He Took Corporate Events and Changed ThemThis particular story about Welch I particularly like because he took something that he couldn't really get out of and totally changed it around to use for his purposes.I'm referring to the corporate events that... Continue Reading Posted at 9:43 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 7 Gary Bourgeault March 15, 2007 "Dare to grow into your dreams and claim this as your motto: Let it be me."When Mary Kay Ash started her company, she understood that to reach her goals, she had to be a constant motivator and cheerleader. For people... Continue Reading Posted at 6:18 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 61 Gary Bourgeault March 15, 2007 Walton may have been the first true information-age CEOFor years Sam Walton operated under the radar of the vast majority of competitors, analysts and writers. Nobody took him too seriously (if they heard of him at all) until Forbes started... Continue Reading Posted at 2:24 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 60 Gary Bourgeault March 15, 2007 Walton Managing Growth Sam Walton was always flying underneath the radar, and when you finally noticed him, it was too late. This was the same in how he managed the growth of the company.Last post we talked about Walton's ability... Continue Reading Posted at 1:23 AM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 59 Gary Bourgeault March 15, 2007 Walton's Legendary Focus on Moving MerchandiseA lot of attention is put upon Walton's ability and determination to cut prices down to the lowest level he was able to. But there was another side of Walton that was the exact opposite,... Continue Reading Posted at 12:42 AM \| Permalink \| Comments
Mar14	Herb Kelleher: The Method Behind His Madness - 48 Gary Bourgeault March 14, 2007 Lasting Speaks for ItselfEvery great business and business leader will be challenged in every area to make the purpose of the company become a reality.In the airline business it's not only the same, but is so competitive that few have... Continue Reading Posted at 8:20 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 63 Gary Bourgeault March 14, 2007 Branson loves adventure, and his job provides plenty of it: from his quixotic attempt to save the high-speed Concorde to his dangerous transoceanic hot-air balloon races (he's been rescued four times by helicopter).One unique, underlying theme to many of the great... Continue Reading Posted at 6:37 PM \| Permalink \| Comments
	Patricia Dunn Has All Criminal Charges Dismissed by Judge Gary Bourgeault March 14, 2007 Patricia Dunn, formerly of Hewlett Packard (HPQ) has breathed as sigh of relief as a California judge dismissed all criminal charges against her. Along with that, the other co-defendents will plead guilty to lesser charges and may not get any... Continue Reading Posted at 4:27 PM \| Permalink \| Comments
Mar13	Warren Buffett and Secrets of Management - 91 Gary Bourgeault March 13, 2007 Boards and Managers The one thing about Buffett that never changes is his consistency in outlook. When it comes to his thoughts on boards and managers in the company his consistency comes through again.He's mentioned that concerning CEO performance that... Continue Reading Posted at 11:02 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 13 Gary Bourgeault March 13, 2007 Making the company "informal" means violating the chain of command, communicating across layers, paying people as if they worked ... for a demanding entrepreneur where nearly everyone knows the boss. The strength of Jack Welch's personality and charisma sometimes hid... Continue Reading Posted at 8:05 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 6 Gary Bourgeault March 13, 2007 If you act enthusiastic, you become enthusiastic – and it spreads like wildfire!Many years ago, if I would have heard the statement above, I would have cringed and been extremely skeptical about it being workable. Over the years I've found... Continue Reading Posted at 5:43 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 58 Gary Bourgeault March 13, 2007 Walton Was on a CrusadeSam Walton knew that he wanted to be a retail discounter from early in his career. Once the decided on that he was like a crusader looking for ways to drive costs out of the merchandising... Continue Reading Posted at 12:15 AM \| Permalink \| Comments
Mar12	Herb Kelleher: The Method Behind His Madness - 47 Gary Bourgeault March 12, 2007 Constantly Talk to CustomersWhen it comes to truly understanding how we are doing in our businesses, there's nothing better than asking our customers. Kelleher was almost fanatical about it. He is legendary for boarding airplanes all the time and talking... Continue Reading Posted at 9:14 PM \| Permalink \| Comments
	Study Shows that Office Workers Most at Risk for Blood Clots Gary Bourgeault March 12, 2007 A study by New Zealand Professor Richard Beasley of the Medical Research Institute in Wellington found that office workers sitting for long hours at their desk may be more apt to have fatal blood clots than passengers that travel on... Continue Reading Posted at 6:14 PM \| Permalink \| Comments
	Google's Commitment to its People Gary Bourgeault March 12, 2007 When we talk about the various things we can do to make our workplaces better for our people, this story about Google (GOOG) comes to the forefront as an excellent example.What I like especially about this isn't simply that they... Continue Reading Posted at 5:03 PM \| Permalink \| Comments
Mar11	Starbucks and Former Beatle Paul MCCartney? Gary Bourgeault March 11, 2007 I'm starting to wonder what it is that Starbucks (SBUX) is trying to accomplish and how it connects to their core purpose. Just about a week ago their CEO sent them a letter calling them to go back to the... Continue Reading Posted at 10:05 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 62 Gary Bourgeault March 11, 2007 Branson's Career Feeds His Passions, Holds His Interest, Incorporates His Family, Allows For His QuirksLast post on Branson we talked about the greatest accomplishment for Branson was in creating the type of life he did for himself. I wanted to... Continue Reading Posted at 7:36 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 90 Gary Bourgeault March 11, 2007 We Would Rather See Berkshire’s Stock Price at a Fair Level Than a High LevelThose of us that have followed Warren Buffett and his way of looking at and running things, know that he really doesn't like the Berkshire Hathaway... Continue Reading Posted at 7:16 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 12 Gary Bourgeault March 11, 2007 Manage it Like a Small OrganizationWelch used to use a metaphor for General Electric (GE), calling it the "grocery store." Even though it may sound odd or even silly, it helped Welch to wrap his mind around the colossus in... Continue Reading Posted at 5:04 PM \| Permalink \| Comments
Mar10	Mary Kay Ash: She Never Wavered - 5 Gary Bourgeault March 10, 2007 The greatest pollution problem we face today is negativityMary Kay Ash had a seemingly endless amount of postive enthusiasm. She didn't seem to let anything get in her way of getting what she wanted done.In addition to saying that "The... Continue Reading Posted at 9:52 PM \| Permalink \| Comments
	U.S. Labor Market Still Healthy - 97,000 Jobs Added Gary Bourgeault March 10, 2007 The unemployment rate dropped last month from 4.6 percent to 4.5 percent according to the Bureau of Labor Statistics, as jobs increased by 97,000 for the month. The Bureau also reported that hourly wages rose as well, evidence the the... Continue Reading Posted at 6:33 PM \| Permalink \| Comments
Mar 9	The Common Sense Management of Sam Walton - 57 Gary Bourgeault March 9, 2007 Walton was too Far Off the Beaten Path to Attract the Attention of Competitors or SuppliersSam Walton didn't open his first Wal-Mart (WMT) store until he was 44, on July 2, 1962. In an amazing year, the industry came from... Continue Reading Posted at 11:10 PM \| Permalink \| Comments
	Why Open Communication is so Important Gary Bourgeault March 9, 2007 When eBay (EBAY) implied that cable executives had been obstacles to the new Media Marketplace they've created and been pushing, it didn't fly too well with those hearing they were being pointed out as the problem.A lot of the problem... Continue Reading Posted at 8:55 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 46 Gary Bourgeault March 9, 2007 If you Look at the Numbers, Southwest is Doing Things RightWhen we consider looking at numbers, there's one great thing about them: they tell an objective story of the subjective work being done on a daily basis within a company.It's... Continue Reading Posted at 4:17 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 61 Gary Bourgeault March 9, 2007 Branson's Greatest Business Feat, Perhaps, has been to Engineer a Breathtaking Life for Himself Some people have commented on Branson saying that perhaps his greatest accomplishment was to "engineer a breathtaking life for himself."While I don't disagree that he's done... Continue Reading Posted at 3:31 PM \| Permalink \| Comments
Mar 8	Warren Buffett and Secrets of Management - 89 Gary Bourgeault March 8, 2007 “The CEO who misleads others in public may eventually mislead himself in private.”In the last post we talked about Jack Welch and the power of informality that was one of the secrets of the great success of General Electric. Along... Continue Reading Posted at 11:30 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 11 Gary Bourgeault March 8, 2007 He Created Something Unique at a Big Company: Informality There are still a lot of people that scratch their heads and look surprised that informality had such a big impact at General Electric (GE).Jack Welch lived to nuke the nine... Continue Reading Posted at 9:41 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 4 Gary Bourgeault March 8, 2007 "Every failure, obstacle or hardship is an opportunity in disguise."Many times in our business or management careers, we face obstacles that seem to be insurmountable. But in the vast majority of cases, if not all of them, they can be... Continue Reading Posted at 9:23 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 56 Gary Bourgeault March 8, 2007 Believe it or not, Discount Retailing was Controversial in the 1950sSomething that's hard to understand in today's competitive marketplace, is that in the 1950s, discount retailing was considered controversial and a disruptor in the marketplace.It threatened all the existing powers... Continue Reading Posted at 7:49 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 45 Gary Bourgeault March 8, 2007 Sticking With ItHerb Kelleher was no different than anyone else when it came to making a business successful. When the company took its first order for a Boeing 737, it began a four-year legal battle to get the company off... Continue Reading Posted at 5:21 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 60 Gary Bourgeault March 8, 2007 But if you were able to trade places with any corporate chieftain, wouldn't it be Richard Branson?The above question asked by a writer is interesting in that it points to the fun part of business and life. Like Branson said,... Continue Reading Posted at 2:52 PM \| Permalink \| Comments
Mar 7	Warren Buffett and Secrets of Management - 88 Gary Bourgeault March 7, 2007 If a Business Generates Some Cash Berkshire Won't Sell ItEverything that Warren Buffett does is related to balance. Not in the negative sense of the word where some nothing is ever tried or a risk never taken, but in the... Continue Reading Posted at 10:12 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 10 Gary Bourgeault March 7, 2007 He Knew the Company and Those Who Work for it Like No OtherWe've talked a little about Jack Welch and a major reason how he was able to keep such a strong handle on the vast empire that was General... Continue Reading Posted at 8:10 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 3 Gary Bourgeault March 7, 2007 I believe that each of us has God-given talents within us waiting to be brought to fruitionThe thing I like about Mary Kay's belief that everyone has talents within them, is that it creates the atmosphere and business culture which... Continue Reading Posted at 7:51 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 55 Gary Bourgeault March 7, 2007 He's been accused of pitting people against each otherFor the most part, Sam Walton has been admired by the vast majority of people the new him and what he had accomplished. One of the few spots that are on his... Continue Reading Posted at 4:27 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 44 Gary Bourgeault March 7, 2007 He Knew How to Get PublicityThere's one thing that occurs over and over again with some of the great business leaders that are presented on managersrealm, and that is that they knew how to get free publicity. It wasn't only... Continue Reading Posted at 4:07 PM \| Permalink \| Comments
Mar 6	Richard Branson - Lessons in Business, Management and Life - 59 Gary Bourgeault March 6, 2007 Richard Branson: What a LifeWhen Richard Branson looks at life, he doesn't look at it in compartments or divided, he looks at it as a whole. When asked about work and leisure he responded saying, "I don't think of work... Continue Reading Posted at 11:00 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 87 Gary Bourgeault March 6, 2007 Acquisitions are not made for reasons other than boosting long-term performanceWarren Buffett never did a thing or made a move that wasn't related to increasing the long-term performance of the company. If you follow a number of companies and watch... Continue Reading Posted at 7:31 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 9 Gary Bourgeault March 6, 2007 The most talent-rich management bench in the worldNo company leader could ever boast that they are the only reason for the overall success of the company. No great leader denies that it is the great people with them that make... Continue Reading Posted at 6:59 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 2 Gary Bourgeault March 6, 2007 Don’t Limit YourselfPart of the strategy of Mary Kay was to help people remove barriers so they could achieve success. Of course her company was built around sales, and in light of that, she had many things she said to... Continue Reading Posted at 3:33 PM \| Permalink \| Comments
Mar 5	The Common Sense Management of Sam Walton - 54 Gary Bourgeault March 5, 2007 Technology Can Only Do So MuchWhile anyone that knows Wal-Mart (WMT) understands that they have a strong technological base and have one of most up-to-date merchandising systems in the world. Interestingly enough though, this never impressed Sam Walton at all.He... Continue Reading Posted at 11:21 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 43 Gary Bourgeault March 5, 2007 A Leader is the Business CultureThere has never been a question concerning Herb Kelleher, that he was the one that set the tone of the unique business culture of Southwest Airlines (LUV). He never had to teach verbally what the... Continue Reading Posted at 11:03 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 58 Gary Bourgeault March 5, 2007 Let's Not Take Ourselves too SeriouslyBranson wrote a hilarious letter to a competitor one time because he was getting very vocal and negative about Branson and Virgin Airlines. An excerpt from the letter said this: "Even if some of your... Continue Reading Posted at 9:56 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 86 Gary Bourgeault March 5, 2007 The Berkshire ContradictionsWhen you read about Warren Buffett and Berkshire Hathaway (BRK-A), there are times when everything seems to be a contradiction. You read about the strategy of understanding companies and being able to project long-term profits based upon that... Continue Reading Posted at 6:36 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 8 Gary Bourgeault March 5, 2007 "I don't give a damn if we get a little bureaucracy as long as we get the results. If it bothers you, yell at it. Kick it. Scream at it. Break it!"All of the above quote was from when Welch's... Continue Reading Posted at 6:18 PM \| Permalink \| Comments
	Mary Kay Ash: She Never Wavered - 1 Gary Bourgeault March 5, 2007 Put God first, family second and career thirdMary Kay Ash was one of the great examples of someone believing in something and never moving off of it. She built her company based upon several simple principles that she repeated over... Continue Reading Posted at 3:37 PM \| Permalink \| Comments
Mar 4	The Common Sense Management of Sam Walton - 53 Gary Bourgeault March 4, 2007 Whoever said 'Retail is Detail' is absolutely 100 percent right I've managed some very large retail companies in the past, and when contrasted against service businesses and sales companies, retail is by far the most detailed business a person can... Continue Reading Posted at 7:45 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 42 Gary Bourgeault March 4, 2007 They'll Try to Stop You Before You're BornIf you have competitors that you can potentially make big inroads to their businesses, there is a very good chance that they'll try to choke off your business; eithe before it births, or right... Continue Reading Posted at 7:16 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 57 Gary Bourgeault March 4, 2007 Branson Loves His New BabyAt the edge of the Mojave Airport lies Hangar 78, part of a bunch of buildings that are clean and lit up like a hospital surgery room. Even though the proprietor of the business and airport... Continue Reading Posted at 6:45 PM \| Permalink \| Comments
	Has Starbucks Lost its Way? Gary Bourgeault March 4, 2007 We talk all the time at ManagersRealm about remaining true to the purpose of our company. The story of Starbucks is one that shows what can happen to a dynamic powerhouse when they take their eyes off of what makes... Continue Reading Posted at 5:39 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 85 Gary Bourgeault March 4, 2007 General accounting practices don’t always accurately represent Berkshire’s consolidated earnings statement.Here's one of those areas that can get someone going, but we'll look at it objectively. When considering accounting practices, it is something that must be carefully scrutinized by leaders.... Continue Reading Posted at 4:31 PM \| Permalink \| Comments
Mar 3	The Jack Welch Management Mystique - 7 Gary Bourgeault March 3, 2007 Above all else, he's a fierce believer in the power of his peopleThere is nothing that Jack Welch did half way. When it came to his people, he had a strong, fierce belief in their power to do the job... Continue Reading Posted at 10:34 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 52 Gary Bourgeault March 3, 2007 Negotiate hard with your vendors/suppliersAn area that has had some negative comments concerning Walton and Wal-Mart (WMT) has been in relationship to their vendors. To this day some people complain that Wal-Mart asks too much of them in reference to... Continue Reading Posted at 10:20 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 41 Gary Bourgeault March 3, 2007 Credited Employees for Southwest's Great SuccessThere are always two different ways of looking at what the management at a company says. They do it because it's true and right to say, or they say things as a strategy because someone... Continue Reading Posted at 8:51 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 56 Gary Bourgeault March 3, 2007 Branson is a billionaire with a missionAnybody that has followed Richard Branson through the years, knows that he's gone through some type of change recently. It's not so much that he's necessarily changed himself, he's still going after things like... Continue Reading Posted at 7:11 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 84 Gary Bourgeault March 3, 2007 Back to SimplicityThis is a topic that I never tire of talking about as so many in management and business attempt to complicate things to make it look like everyone needs their services so badly. But look at Warren Buffett... Continue Reading Posted at 5:37 PM \| Permalink \| Comments
	The Jack Welch Management Mystique - 6 Gary Bourgeault March 3, 2007 He encourages near-brutal candor in the meetings he holds to guide the company through each work year.As I've studied many of the great managers, I'm still amazed at how many times the way they do things is adopted, while not... Continue Reading Posted at 3:41 PM \| Permalink \| Comments
Mar 2	A Company That Can Meet All Your Posting Compliance Needs Gary Bourgeault March 2, 2007 Sponsored ReviewThe constantly changing federal workplace regulations and rules are at minimum, hard to keep up with, and require constant vigilance and posting to comply with current laws that are being passed or recently passed. A company which has made... Continue Reading Posted at 5:37 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 51 Gary Bourgeault March 2, 2007 Trial And ErrorWhen you think of some of the foibles that people in business make, it's funny to see those types of things happen again and again. Sometimes we don't understand the consequences of what we think a great idea... Continue Reading Posted at 5:17 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 40 Gary Bourgeault March 2, 2007 Hindsight Always Makes Things Look EasierLike a number of the managers we talk about here, when you look at the businesses they started or ran, many times talking about their impact and successes can make the process look easy and... Continue Reading Posted at 4:59 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 55 Gary Bourgeault March 2, 2007 You Never Know Where Things Will LeadConcerning the upcoming Virgin Galactic venture, there's some interesting things concerning its potential that we can look at. For the venture itself, Branson said that "If we can make space fun, the rest will... Continue Reading Posted at 4:12 PM \| Permalink \| Comments
	Warren Buffett and Secrets of Management - 83 Gary Bourgeault March 2, 2007 Managing ExpectationsTo me, one of the most under-appreciated and misunderstood management skills is in managing expectations. I'm not talking about using the old under-promise and over-perform strategy ... although that's legitimate. I'm talking about truly understanding the marketplace, growth and... Continue Reading Posted at 3:33 PM \| Permalink \| Comments
Mar 1	The Jack Welch Management Mystique - 5 Gary Bourgeault March 1, 2007 He had an Amazing Attention to DetailWhen I was a lot younger, I had a good friend that was a very good artist. I remember him talking one time about some of what he considered the most important aspect to... Continue Reading Posted at 11:58 PM \| Permalink \| Comments
	The Common Sense Management of Sam Walton - 50 Gary Bourgeault March 1, 2007 Study and Question the Management of the BusinessSam Walton was asked one time on whether there could ever be another Wal-Mart (WMT) type story that could happen in the business world again. His answer was not only was there a great... Continue Reading Posted at 11:12 PM \| Permalink \| Comments
	Herb Kelleher: The Method Behind His Madness - 39 Gary Bourgeault March 1, 2007 Kelleher Walked the TalkWhen Southwest Airlines (LUV) began, they only had four planes and less than 70 employees. It didn't take them long to run into financial trouble, which brought forth a dilemma that would challenge the beliefs of Kelleher and... Continue Reading Posted at 7:49 PM \| Permalink \| Comments
	Richard Branson - Lessons in Business, Management and Life - 54 Gary Bourgeault March 1, 2007 Spies Hiding ... to Find out Why We're so SuccessfulOne of the most fascinating parts of business and management to me is seeing excellent companies and business leaders emerge, and then all the copycats come out thinking that they can... Continue Reading Posted at 5:36 PM \| Permalink \| Comments
	Warren Buffett Looking for Investment Protégé Gary Bourgeault March 1, 2007 In the eagerly awaited annual report of Warren Buffett concerning Berkshire Hathaway (BRK-A), he announced that he would be looking for a person or two to train and raise up to succeed him when the time arises concerning the investment... Continue Reading Posted at 4:09 PM \| Permalink \| Comments

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