Business

Plot your direction, make it clear, then go for it

December 3, 2014
Randall Hogan, chairman and chief executive of Pentair, says “thinking right to left” is a key to succeeding as CEO. He defines it as identifying where you are now as a starting point and then articulating a clear goal to reach a different point.

Millennials try Burger King turnaround

November 26, 2014
Daniel Schwartz, 33, is one of the youngest chief executives of a major global enterprise. A former Wall Street analyst, he brought a cost-cutting mindset to Burger King.

His Barbie makeover boosted a tired brand

November 26, 2014
When Mattel hired Richard Dickson as general manager of its Barbie brand in 2008, the famous doll was in a lull. After hitting a high of $1.52 billion in ­Barbie sales in 2002, Mattel had struggled through a six-year decline. Dickson hit the ground running to put an end to “brand goulash.”

CEO of Domino’s stared bad pizza in the face

November 19, 2014
In late 2008, Domino’s market share was plummeting. Instead of blaming collapsing sales on the nation’s economic downturn, executives chose a surprising strategy: They admitted their main product—pizza—wasn’t very good. Then Patrick Doyle took it a step further.

Wise questions get answers

November 12, 2014
“Self-awareness,” is what entrepreneur Joel Trammell says is the most important skill a CEO needs. “It’s hard to get authentic information from your employees. CEOs are constantly worried that they’re not hearing the full story.”

Honeywell’s David Cote drafts top 12 behaviors

October 30, 2014
When David Cote became Honeywell’s CEO in 2002, it was in disarray. And so he listed 12 behaviors that he wanted everyone to follow. He felt that unifying the company around the be­­haviors would work better than articulating vague, hard-to-measure values.

The ‘father of containerization’ mastered the art of the long wait

October 15, 2014

Malcom McLean didn’t like to waste time, but in 1937, he had to spend most of a day waiting for his truckload of cotton to be loaded onto a ship in Hoboken, N.J. It gave him a bold idea. He saw what needed to be done to streamline shipping—but it would take him 20 years to make it happen.

Build a great idea, block by block

October 8, 2014
As a young child in northern Sweden, Yngve Bergqvist spent much of his time shoveling snow. Years later, he was so accustomed to snow and ice that he built a thriving business around it. Bergqvist decided to create a hotel made entirely of ice. It seemed crazy, but the concept worked.

Try ‘co-opetition’ with rival firms

September 29, 2014
A public-relations whiz, Sam Calagione of Dogfish Head Brewery does not view competing breweries as enemies. He rightly concluded that any positive publicity for rival brands would benefit his business.

Sealing deals with a handshake and a taco

September 24, 2014
After more than two years of testing a Doritos-flavored taco shell, Taco Bell still had not signed a contract to partner with the company that made Doritos. So as the date neared for a major launch, CEO Greg Creed invited Frito-Lay’s CEO to a meeting where they forged a handshake deal. Creed’s eagerness to forge ahead without an official contract paid off.