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INSIDE THE MIND OF THE HIGH-TECH CEO TECH2002. Stewart Cheifet COMPUTER CHRONICLES & Net Cafe. OBJECTIVES. 1. Understand CEOs of Major High-Tech Companies CEOs of Companies Dependant on High-Tech 2. Learn How to Be a Better CEO How to Deal with CEOs 3. Realize

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INSIDE THE MIND OF THE HIGH-TECH CEOTECH2002

Stewart Cheifet

COMPUTERCHRONICLES & Net Cafe


OBJECTIVES

  • 1. Understand

    • CEOs of Major High-Tech Companies

    • CEOs of Companies Dependant on High-Tech

  • 2. Learn

    • How to Be a Better CEO

    • How to Deal with CEOs

  • 3. Realize

    • High-Tech CEOs are People Too

    • CEO Mythology is Just That


THE CEO PERSONALITY

  • CEO Drives Company Style & Culture

    • Apple: Jobs vs Sculley vs Amelio vs Jobs

  • Where Did CEO Come From?

    • Founder

    • Sales & Marketing

    • Engineering

    • Finance

    • Legal


THE CEO PERSONALITY

  • What is CEO’s Agenda?

    • First Time CEO

    • Merger Survivor

    • Designated Adult

    • Hired Gun

    • Disciplinarian

    • Feel Good

  • The Company is the CEO !


AMAZON.COMPURCHASE CIRCLES

Oracle - Larry Ellison

Microsoft - Bill Gates

IBM - Lou Gerstner

Apple - Steve Jobs


E-Business or Out of Business: Oracle’s New Economy Roadmap

The Oracle Edge: Take No Prisoners Strategy Made an $8 Million Software Powerhouse

Oracle Applications Performance Tuning Handbook

Implementing Oracle Financial Analyzer by John Cunningham

Oracle Advanced PL/SQL Programming Manual

The Difference Between God and Larry Ellison: Inside Oracle

THE CEO PERSONALITYORACLE: LARRY ELLISON


Yookoso! An Invitation to Contemporary Japanese

Workbook/Lab Manual to Yookoso Contemporary Japanese

All I Really Need to Know in Business I Learned at Microsoft

The Microsoft Edge: Insider Strategies for Building Success

Trust on Trial: How the Microsoft Case is Reframing Competition

Proudly Serving My Corporate Master: What I Learned in Ten Years at Microsoft

THE CEO PERSONALITYMICROSOFT: BILL GATES


Complete Baseball Record Book: 2002 Edition

Learning How to Learn: Psychology and Spirituality the Sufi Way

The Quantum Brain: The Search for Freedom and the Next Generation of Man

The Constant Gardener

Time Lord: The Creation of Standard Time

Schaum’s Guide to Advanced Calculus

IBM and the Holocaust: The Strategic Alliance between Nazi Germany and America’s Most Powerful Corporation

THE CEO PERSONALITYIBM: LOU GERSTNER


Harry Potter and the Goblet of Fire

Harry Potter and the Chamber of Secrets

Harry Potter and the Sorcerer’s Stone

Harry Potter and the Prisoner of Azkaban

Harry Potter: Quidditch Through the Ages

The Second Coming of Steve Jobs

THE CEO PERSONALITYAPPLE: STEVE JOBS


THE CEO PERSONALITY

  • Top CEO Drivers

    • Survival

    • Image of Leadership

    • Maintaining Control but Delegating

    • Loyalty of Staff

    • Growing the Business

    • Fending off Competitors

    • Dealing with Crises


THE CEO PERSONALITY

  • Top CEO Concerns

    • Do I really know what’s going on inside my company?

    • How can I handle high level tasks while still staying in touch with the trenches?

    • Am I being blindsided – what have I forgotten to think about?

    • How do I stay popular while still pursuing long-term goals?


THE CEO PERSONALITY

  • Dominant Characteristic of the CEO?

    • Insecure

    • Paranoid

    • Bi-Polar

  • Key Insight into CEO Personality?

    • What Sport Did CEO Play?

    • What Position Did CEO Play?


Greg Priest Smart Force

Football Lineman

Kathy Levinson E-Trade

Basketball & Soccer

George Bell, Excite@Home

Triathlete

Tony Ridder Knight-Ridder

Skier

Eric Spivey NetCom

Cross Country Cyclist

Steve Jurvetson Fisher, Draper, Jurvetson

Ultimate Frisbee

Kim Polese Marimba

Ballet Dancer

Steve Young Found

NFL Quarterback

THE CEO PERSONALITY


CEO CHALLENGESTHE VISION

  • Vision

    • What Does Company Stand For ?

      • Profits and What Else?

    • How to Maintain Corporate Vision ?

      • Need for Constant Strategy Change

    • What Business Are We In ?

      • Manufacturing, Services, Internet


CEO CHALLENGESEXECUTING THE VISION

  • Execution

    • Competitive Strategy

      • Offensive vs Defensive

      • Innovation vs Barriers

    • Control vs Delegation

      • The Gurus Say “Give it Up”

    • Authority vs Power

      • “I’ve never had so many bosses!”


CEO CHALLENGESTHE BALANCING ACT

  • Vision & Execution

    • Cannibalization

      • Ability to Redefine the Company

        • DEC

        • IBM

        • Apple

        • Hewlett Packard

    • “You may have to eat your own children because if you don’t reinvent yourself, someone else will do it for you.”


CEO CHALLENGESORGANIZATIONAL STRUCTURE

  • Regions vs Products

    • Proctor & Gamble

      • Country Units to Business Units

  • Big vs Small

    • Nokia

      • From 28 Product Lines to 4 Product Lines

  • “If you are in a broad sweep of businesses you tend to fall into a mediocre way of running things and you don’t and can’t understand all the businesses you’re in.”


  • CEO CHALLENGESORGANIZATIONAL STRUCTURE

    • Centralized vs Localized

      • Coca Cola’s New “New Coke”

    • “The world was demanding greater flexibility, responsiveness and local sensitivity while we were further centralizing decision making and standardizing our practices.”


    CEO CHALLENGESTECHNOLOGY

    • Dealing with New Technology

      • Era of “Frictionless” Commerce

        • But There is Profit in Friction

      • Internet Enabled Direct Distribution

        • Hurting Long-Term Partners

        • Balance between Sales Force & Web Direct

        • Encyclopedia Britannica

        • Hewlett Packard & Dell

        • Tower Records


    CEO CHALLENGESMANAGING CHANGE

    • The Rate of Change & Managing Change

      • People Change Jobs Faster

      • Customers Change Vendors Faster

      • Shareholders Churn Portfolios Faster

      • From Linear to Multi-Tasking

        • The Car Wash vs the Pit Stop

        • Balancing vs Juggling

      • Taking Risks without All the Facts


    CEO CHALLENGESMANAGING THE NUMBERS

    • The Numbers

      • Budget Issues

      • Reducing Waste & Lowering Costs

      • Increasing Revenue

      • CRM & ERP

      • Setting Priorities when Resource Restrained

      • Defining & Using Appropriate Metrics

        • Self Performance Analysis


    CONFLICTING GOALSLONG TERM vs SHORT TERM

    • Setting Goals

      • Realistic or Rosy

        • Look Good Now vs Look Good Later

    • The Right Business Model Amid Change

      • “This is not a place for five-year plans. We don’t know what will happen 9 months from now.”

      • “You can’t have a long-term strategy anymore because with it you’re going to be confined and you won’t be able to move fast enough.”


    CONFLICTING GOALSLONG TERM vs SHORT TERM

    • Major Goal Conflicts:

      • Shareholder Value vs Other Values

      • CEO Looking over Shoulder toward Board

      • Differing Stakeholder Interests

        • Shareholders, Customers, Employees, Partners, Suppliers, Communities

      • Need for Speed vs Approval Layers


    CONFLICTING GOALSLONG TERM vs SHORT TERM

    • Good Data vs Necessary Speed

      • “I don’t know how we’re going to make money over the Internet but if I wait to have a business model in place I’ll be the last guy in the market.”

      • “We’re going to have to make decisions with 75% of the facts. If you wait for 95% you are going to be a follower.”


    CONFLICTING GOALSLONG TERM vs SHORT TERM

    • Good Data vs Necessary Speed

      • “The effort to create a 100% accurate solution insures that a decision will come too late because the market will change by the time you’re done.”

      • “A bad decision on Monday is better than a good decision on Friday.”


    GLOBAL PRESSURES

    • Opportunity vs Competition

      • Opportunity

        • Goldman Sachs

        • 1980: 3 % Employees Overseas

          3 Overseas Offices

        • 2000: 50 % Employees Overseas

          25 Overseas Offices

      • Competition

        • Automobiles, Aerospace, Entertainment, Electronics

        • Internet and Web

        • Fed Ex Buys New Planes from Czech Republic


    GLOBAL PRESSURES

    • Management Challenges

      • Travel

        • John D. Rockefeller – United States

        • Today’s CEO – U.S., Europe, Asia, Latin America

      • Corporate Culture

        • Diversity of Talent vs Cohesive Corporate Culture

      • Multinational Supervision

        • International Team vs Closely Knit Team

        • National Differences & Management Styles


    GLOBAL PRESSURES

    • Globalism vs Localism - Marketing

      • “Everything is local.”

      • “International mergers are essential.”

    • Globalism vs Localism - Managing

      • “We must be flexible enough to move with rapidly changing currents.”

      • “We must have strong central controls to be a credible global player.”


    GLOBAL PRESSURES

    • Globalism vs Localism - Customers

      • “Corporations are moving globally but the customer tendency is moving locally.”

      • “Businesses are moving to a global scale while customers are moving to a local scale, driven by language and culture.”

      • “There is a renaissance of nationalism and localism which is growing faster than globalism.”


    GLOBAL PRESSURES

    • Globalism vs Localism – Strategic Location

      • Philips

        • California: Set Top Boxes

        • Hong Kong: Audio Equipment

        • Amsterdam: Headquarters

      • Sony

        • New York: Music

        • California: Movies

        • Japan: Headquarters


    MERGERS & ACQUISITIONS

    • The Urge to Merge

      • 19 of the 20 Largest Mergers in History Occurred in 1998 - 2001

      • “Can a mere ten billion dollar company survive in this decade?”

        • Daimler & Chrysler

        • Boeing & McDonnell Douglas

        • Exxon & Mobile


    MERGERS & ACQUISITIONS

    • Offensive vs Defensive M&A

    • Most Mergers Fail!

      • Distraction… of Post Merger Consolidation Issues from Main Business Issues

        • Aetna

      • Tension… between Centralized Management and Need for Decentralized Specialization

        • Cultural Compatibility

        • Integration of Systems & Philosophies


    MERGERS & ACQUISITIONS

    • Challenges

      • Leverage Size While Maintaining Flexibility and Responsiveness

        • “Like Turning Around an Aircraft Carrier”

      • How Much is Too Much for a CEO to Effectively Manage

      • Fear of New Government Regulation

      • Burden of Social Responsibility


    MERGERS & ACQUISTIONS

    • Alternatives to M & A

      • Organic Growth

        • Internal Growth

        • Small Acquisitions

          • GE

          • Merrill Lynch

          • Nokia

      • Maintains Corporate Culture

      • But Slower Growth


    TECHNOLOGY & THE INTERNET

    • Pace of Technology Change

      • Radio: 50 Years to Reach 50 Million Users

      • TV: 40 Years to Reach 50 Million Users

      • Web: 6 Years to Reach 100 Million Users

    • Pace of Corporate Growth in Tech Sector

      • Priceline: $0 - $500 Million in Two Years!

    • Concentration in Retail E-Commerce

      • EBay, Amazon & Priceline = 90% Mkt Value


    TECHNOLOGY & THE INTERNET

    • Shrinking of Decision Time-Line

      • Decide with Limited Data

      • Slow-Pitch Softball to Fastball Baseball

      • Execution vs Vision

    • Different from other Market Changes

      • Not New Products but New Way to Buy Same Products

        • Amazon, Ticketmaster, Priceline


    TECHNOLOGY & THE INTERNET

    • Click Loyalty

      • Harder to Hold on to Customer

    • Frictionless Commerce

      • More Power to the Customer

    • Revenge of Old Economy Dangers

      • Complacency

    • Role of Internet Inside the Company

      • Intranets & Extranets


    MANAGING KNOWLEDGECOMMUNICATION

    • Controlling Corporate Knowledge

      • How to Get the Whole Company Thinking Alike ?

      • How to Engage Every Employee ?

      • Whispering Down the Lane ?

        • Direct vs Indirect Communication

    • “You have to get every mind into the game.”

    • “Half of the corporate knowledge in this company is in the heads of the employees and will go out the door with them if they leave.”


    MANAGING KNOWLEDGE COMMUNICATION

    • Accessing & Sharing Corporate Knowledge

      • Good Execution Requires Good Information

        • How to Get the Data?

    • Balanced Communication at Microsoft

      • “Does this company only have good news, isn’t there ever any bad news?”

    • Communicating Change at 3M

      • “You can’t order change. There’s only one of me and 75,000 of them.”


    THE TECH EFFECT:ORGANIZATIONAL STRUCTURE

    • Getting Horizontal

      • Lines Blurring between Producer, Supplier, Partner, and Customer

      • Broadening Definition of Stakeholder

        • Dealing with Multiple Constituencies

      • Defining Core Competencies

        • Buy or Build

    • “No company, no matter how successful, can go it alone in this new world.”


    THE TECH EFFECT:ORGANIZATIONAL STRUCTURE

    • Takes Time to Develop Horizontal Relationships

      • Pressure of Quarterly Referendum on CEO

      • Managing the “Octopus” of Partnerships

    • Successful Horizontal Partnership

      • FedEx and Fujitsu

        • PCs Assembled in Fed Ex Memphis Warehouse

    • Failed Horizontal Partnership

      • Ford and Firestone

        • Hedging against Brand Damage from Partner


    THE TECH EFFECT: THE CUSTOMER

    • How Customers Buy

      • Technology & The Internet Effect

        • Buying On-Line vs In-Store

    • What Customers Buy

      • Technology - New Products

        • Cell Phones, Cable TV, Computers


    THE TECH EFFECT: THE CUSTOMER

    • “We hoped we never heard from the customer because if we did, that meant something was wrong.”

      • Old Ford

  • “Our customers are the most valuable resource of knowledge in this company.”

    • New Ford


  • THE TECH EFFECT: THE CUSTOMER

    • Future Customer Behavior Trends

      • Global vs Local

        • Pepsi in India and China

      • Customer Design Control

        • Shipping, Computers, Shoes, Next?

      • Internet vs Bricks & Mortar

        • Physical Assets vs Digital Assets

      • “If it’s the Net, then I have too many people and too much real estate, but if I’m wrong and get rid of them, then I lose customers and market position.”


    MAINTAINING CONTROL

    • “We’d have a meeting and at the end we would all agree to one course of action and then after the meeting the managers would ignore it all and do their own thing.”


    MAINTAINING CONTROL

    • Theory: Leadership Flows from Bottom Up

    • Practice: CEO Wants to Lead From Top

    • Theory: CEO Sets A Strong Compass and Direction for the Company

    • Practice: Business Climate Changes and CEO Must Constantly Change Direction


    MAINTAINING CONTROL

    • Theory: Define Corporate Commitments and Work to Develop Staff Confidence and Trust

    • Practice: Staff Doesn’t Trust CEO When Market Pressure Makes CEO Tenure Volatile

      • Investor Capitalism vs Managerial Capitalism

    • Theory: CEO Should Share the Risk with the Staff

    • Practice: Huge CEO Severance Packages Despite Corporate Failure

      • Mattel, Coca Cola, Procter & Gamble


    MAINTAINING CONTROL

    • “People within the company now have so much data and access to data that they can easily challenge the CEO’s decision.”

    • “If you are taking comfort in the fact that you have finally put the right organizational structure in place and you are feeling secure, you are probably in serious trouble.”


    MAINTAINING PERSPECTIVE

    “When they put you in the ground and they throw dirt on your coffin, there won’t be shareholders standing around the grave, it will be your family. Never forget that.”


    INSIDE THE MIND OF THE HIGH-TECH CEOTECH2002

    Stewart Cheifet

    COMPUTERCHRONICLES & Net Cafe


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