Throughout history, people had little need to manage their careers-they were born into their stations in life or, in the recent past, they relied on their companies to chart their career paths. But times have drastically changed. Today we must all learn to manage ourselves. What does that mean? As Peter Drucker tells us in this seminal article first published in 1999, it means we have to learn to develop ourselves. We have to place ourselves where we can make the greatest contribution to our organizations and communities. And we have to stay mentally alert and engaged during a 50-year working life, which means knowing how and when to change the work we do. It may seem obvious that people achieve results by doing what they are good at and by working in ways that fit their abilities. But, Drucker says, very few people actually know-let alone take advantage of-their fundamental strengths. He challenges each of us to ask ourselves: What are my strengths? How do I perform? What are my values? Where do I belong? What should my contribution be? Don't try to change yourself, Drucker cautions. Instead, concentrate on improving the skills you have and accepting assignments that are tailored to your individual way of working. If you do that, you can transform yourself from an ordinary worker into an outstanding performer. Today's successful careers are not planned out in advance. They develop when people are prepared for opportunities because they have asked themselves those questions and have rigorously assessed their unique characteristics. This article challenges readers to take responsibility for managing their futures, both in and out of the office.
Talk of cost cutting and layoffs was already in the air in the New York offices of international beverage company Legrand SA. But now everyone is imagining the worst after the sudden and mysterious resignation of Lucien Beaumont, the company's president of U.S. operations. The rumors are flying fast and furious about what prompted his departure and, just as important, who will get Lucien's job. Michael Feldstein is confident that he's a top contender for Lucien's job. Michael, the global category director for rums, believes his stellar brand results and strong track record might earn him the position. Then, with a slight sense of paranoia, he notices Danielle Harcourt--the global category director for vodka and liqueurs and Michael's chief competitor for Lucien's job--networking with some of the Paris executives at a launch party for one of Michael's brands. She has also reached out to at least one of his direct reports. Before he can confront her, Michael gets a call from CEO Pierre Hoffman and a proposition--but not the one he's looking for. In this fictional case study, Michael must weigh the advantages of taking an unexpected post in China against holding his ground in the politically charged New York offices of Legrand. Commenting on this fictional case study in R0501A and R0501Z are Nancy Clifford Widmann, an executive coach, and Amy Dorn Kopelan, the CEO of Bedlam Entertainment, a conference management company; Fred Hassan, the chairman and CEO of Schering-Plough; Allan Cohen, the Edward A. Madden Distinguished Professor in Global Leadership at Babson College; and Gary B. Rhodes, a senior fellow at the Center for Creative Leadership.
Talk of cost cutting and layoffs was already in the air in the New York offices of international beverage company Legrand SA. But now everyone is imagining the worst after the sudden and mysterious resignation of Lucien Beaumont, the company's president of U.S. operations. The rumors are flying fast and furious about what prompted his departure and, just as important, who will get Lucien's job. Michael Feldstein is confident that he's a top contender for Lucien's job. Michael, the global category director for rums, believes his stellar brand results and strong track record might earn him the position. Then, with a slight sense of paranoia, he notices Danielle Harcourt--the global category director for vodka and liqueurs and Michael's chief competitor for Lucien's job--networking with some of the Paris executives at a launch party for one of Michael's brands. She has also reached out to at least one of his direct reports. Before he can confront her, Michael gets a call from CEO Pierre Hoffman and a proposition--but not the one he's looking for. In this fictional case study, Michael must weigh the advantages of taking an unexpected post in China against holding his ground in the politically charged New York offices of Legrand. Commenting on this fictional case study are Nancy Clifford Widmann, an executive coach, and Amy Dorn Kopelan, the CEO of Bedlam Entertainment, a conference management company; Fred Hassan, the chairman and CEO of Schering-Plough; Allan Cohen, the Edward A. Madden Distinguished Professor in Global Leadership at Babson College; and Gary B. Rhodes, a senior fellow at the Center for Creative Leadership.
Compania Cervecerias Unidas S.A. (CCU), the leading player in the beer and beverage business in Chile ,is evaluating the feasibility of entering the Pisco (hard liquor from special grapes) business in Chile. The market is very competitive and divided between two very large traditional cooperatives. These two companies, with their broad brand portfolios, control over 90% of the market. In recent years, the Chilean market has started to change. Consumers are becoming more sophisticated and are opening up to new lifestyle beverages. The retail industry is going through a process of fast transformation with the appearance of new formats (e.g., Internet, kiosks, and hypermarkets) and consolidation through mergers and acquisitions. CCU is a powerful player in the beverage industry. It has strong brands, channel access, and merchandising power.
This technical note illustrates the fundamentals of lease vs. buy decisions in technology and how they differ from the typical capital equipment lease vs. buy decision. This note is designed for instructors, and provides them with a background for an introductory lecture on information technology (IT) leasing. It can also function as a companion to the Kellogg cases "AMG, Inc. & Forsythe Solutions: Lease vs. Buy Decisions" and "Shilling & Smith Acquisition of Xteria Inc.: Data Center Technology Leasing."
The case is set in June 1999 as Marcel Telles, Chairman and Chief Executive Officer of Companhia Cervejaria Brahma (Brahma) - the largest brewer in Brazil - considers a possible merger with the Antarctica Group (Antarctica), the second-largest Brazilian brewer. If the merger were to be completed, the combined firm would control 75% of Brazil's beer market and forecast pro forma revenues of over $US2.8 billion. The case provides a concise overview of the Brazilian beer market and Brazil's volatile macroeconomic and regulatory context, and summarises the century-long rivalry between Brahma and Antarctica. For a century after their founding, Antarctica led Brahma in terms of market share, profitability, new product introductions and management innovations, although the two brewers were roughly comparable in size. Under Telles' leadership, however, Brahma pulled ahead of its rival in the span of a decade. The case explores the reasons for this dramatic reversal of fortune and describes in detail the actions Telles and his top management team took to change Brahma's culture, set and execute operational improvements, and create real options for future revenue streams
Richard Townsend has recently been elected CEO of Liberty Medical Foundation (LMF), a nonprofit HMO. Due in part to a rapidly changing competitive environment, LMF has faced serious financial problems over the past two years. Confounding the problem are low morale among physicians and staff and declining patient satisfaction. Townsend will present to the board of directors the two strategic choices that he sees for keeping LMF alive. One choice involves LMF regaining its low-cost position that originally attracted so many of its members. LMF's low-cost, high-efficiency positioning has historically been its competitive advantage. Regaining the low-cost position would mean implementing prior authorization requirements, drastically cutting the number of physicians and staff, and copying other cost savings measures that for-profit HMOs use. The other option is to change radically LMF's positioning so that it is the quality and service leader. This option assumes that customers will be willing to pay a premium for excellent service. Either option will require drastic changes to LMF's culture.
In December 2003, the management teams at the automotive and steel businesses of The Timken Corp., headquartered in Canton, Ohio, were principally in agreement that market price was the appropriate instrument for valuing internal steel transfers. At the same time, both management teams had reservations about details of the implementation of market-based transfer pricing as it stood. Asks students to assess whether the transfer pricing policy for steel transfers inhibited the automotive division from exercising its market power as a purchaser of bearings quality steel. Also asks students to comment on the usefulness of the Minimum Rule, assess Timken's policy of market-based transfer pricing rules for steel, and compare cost-based transfer prices to market-based prices.
Provides basic economic and social indicators for 145 countries, drawn from the World Bank's World Development Indicators (2004). The data include: population, land area, GNP per capita, real GDP growth, life expectancy, adult illiteracy, fertility rate, access to sanitation, and income inequality. Reports data from 2000 whenever possible and is largely based on Basic Statistics from World Bank's World Development Report 2002 (9-703-030).
Describes the evolution of General Motors' strategy, organizational structure, and management processes from its founding to the present day. Focuses on the role of GM's management committee--the senior-decision-making body at the company, now called the Automotive Strategy Board (ASB)--and how it operates under Rick Wagoner, its current CEO. In October 2004, Wagoner and the ASB are wrestling with recent changes in GM's planning and budgeting processes and how they will affect the balance between global and local needs.
Mo Ibrahim, chairman of Celtel International, the largest provider of cellular services in sub-Saharan Africa, must decide on his company's future. After an amazing six years that took it from minority positions in three countries to nearly $1 billion in revenues and 14 operations in 13 countries, the company has three options: to attempt an IPO, to find a merger partner, or to continue as an independent entity. Ibrahim must consider the company's track record, its current situation, and the implications of each option.
Explores the role of the U.S. military in facilitating the establishment of a spectacularly successful free trade area in one of the most devastated areas of Bosnia. NATO's imposition of law and order, plus protection from local political protection rackets, led to spontaneous growth of a market with over $100 million in annual sales.
This case is a sequel to "WLR Foods and Tyson Foods" (UV2529), which presents the attempted acquisition of WLR by Tyson Foods in 1994. Over the ensuing six years, WLR's stock price slides consistently downhill until 2000, when it is trading at a fraction of its 1994 value. When WLR's share price hits $4.59, Pilgrim's Pride Corporation (PPC) views the company as an attractive acquisition. This case asks the student to determine how much of a premium PPC should offer and whether WLR management will resist a takeover in 2000 as it did in 1994. Financial information is provided to allow students to compute both stand-alone and with-synergies valuations. The case is best taught immediately following UVA-F-1465. It is designed to be taught as a firm-valuation exercise in a first-year or second-year MBA finance course. It is also suitable for executive and undergraduate audiences. Student (F-1466 WLR-Pilgrims Pride.xls) and instructor (F-1466 TN.xls) spreadsheets are available.
Hasbro's newest toy is so unique it requires a unique launch strategy. Comparing traditional media (TV, print) with a non-traditional viral campaign, Matt Collins must weigh the risks and benefits of doing things the way they've always been done or blazing a new path in the marketing of toys.
PepsiCo is a large international soft drink manufacturer. The company has decided to split its worldwide bottling company from its concentrate business and is pursuing the initial public offering of the Pepsi Bottling Group. The president of PepsiCo Inc will become the chief executive officer of the newly formed bottling division and must create a system of corporate governance, and decide how to structure the new board of directors for the Pepsi Bottling Group.
Digital Economy was founded in 1994 as a private think tank focused on researching the effects of emerging technologies on competitive strategies and high performance organizations. By the late 1990s, clients demanded consulting services to compliment previously purchased research services. The company's business model and offerings flourished in the technology boom. In the first quarter of 2001, the technology boom began to deflate. Digital Economy's decision makers were confident that the changes in the environment would be short lived and that the company's business model and offerings were infallible. Unfortunately, this assessment and subsequent decisions lead to substantial losses in the next two years. The parent firm pressured Digital Economy to realize a profit by the following fiscal year or be completely shut down or consolidated. Digital Economy was in a state of crisis yet the management team did not see the need for change. This case illustrates how biased environmental analysis and personal beliefs can affect decision making and lead to and sustain organizational crisis.
Sun Life Financial is a large insurance conglomerate with $14.7 billion in annual revenues. The vice-president for China must formulate an approach for his company's entrance into China. Sun Life has achieved two important milestones: the right to apply for license and the signing of a Memorandum of Understanding for Joint Venture with China Everbright, a local securities company. The financial vice-president must consider strategic options for entry and choose a city in which to focus his efforts in getting a license. In doing so, he needs to consider Sun Life's overall priorities, strategic direction and how he will sell the concept to senior management in Canada. Intended for use in an introduction to international business course, the case includes assessing internal capabilities against an environmental scan, formulating strategy and making operational decisions relating to city selection. It also introduces the idea of joint venture management and government relations.