Tag Archives

5 Articles

Four Critical Functions of an Effective CEO

Posted by Felix Assivo on
0
Business
Four Critical Functions of an Effective CEO

To receive these weekly articles, subscribe here.

This blog is a modified version of the Introduction to Robert Rosenberg’s new book Around The Corner To Around The World. Robert served as the CEO of Dunkin’ Donuts for 35 years. It is a companion to his interview on Innovating Leadership, Co-creating Our Future titled A Dozen Lessons Learned Running Dunkin’ Donuts that aired on Tuesday, March 16th, 2021.

Every morning, five million people around the world start their day with a cup of Dunkin’ Donuts coffee. Thirsty customers in search of their favorite pick-me-up can find their fix in more than eleven thousand stores and in more than forty countries. In the United States, the brand enjoys a 95 percent recognition rate among consumers. In head-to-head taste comparisons between Dunkin’s original brew and Starbucks blend, Dunkin’ was preferred 58 percent to 42 percent.1 In part due to these achievements, Wall Street has placed a market value of nearly $6.5 billion on the enterprise known as Dunkin’ Brands.2

This was not always the case. From humble beginnings—a single shop in Quincy, Massachusetts, in 1950—Dunkin’ Donuts grew over the years into one of the world’s most beloved brands through sheer perseverance and grit, talent, and a little bit of luck. This memoir chronicles the trials and tribulations, the dizzying highs when we got it right and the heart-thumping near-death lows of when I got it wrong.

This is a story of a family business transforming from a small, regional diversified food service company into the worldwide, iconic brand it is today. More than anything else, it is a story of change. Sometimes it was a pivotal switch-up in management that affected all levels of the business, or merely a refinement in the menu that sent sales skyrocketing. Deceptively simple adjustments in the service delivery system transformed our retail concept in fundamental ways. A more sophisticated location and marketing strategy increased sales dramatically, while a new purchasing system saved our franchisees tens of millions of dollars. The fact is that our team— both franchise owners and management together—continually adapted to an ever-changing consumer and competitive landscape. This adaptability enabled us to build this world-renowned brand that I had the good fortune to shepherd for more than thirty-five years.

Since my time and exposure with this company parallels the mind-blowing growth of the fast-food business, as well as the franchise system of distribution, business readers are sure to find value in this tale as well.

Growing any business is not for the faint of heart; not in 1950 when Dunkin’ began, not during the years I was at the helm, 1963– 98, and certainly not today. So to all those entrepreneurs building their own businesses today or contemplating buying a franchise, I would hope our successes and failures would be a valuable springboard and provide important lessons and helpful insights—or cautionary tales—for your own ventures.

Thousands of executives, staff, and franchise owners past and present who have built this wonderful business. It was their adaptability, courage, and genius that made Dunkin’ Donuts a legendary and dominant global brand around the world.

In my experience, these are the four critical functions of an effective CEO.

  • The first is strategy. Strategy is the controlling plan that sets out what an enterprise wishes to be, what it wishes to achieve, and the most important action steps it needs to take to marshal scarce resources in the achievement of its mission and objectives.
  • The second lens is organization, which deals with the recruitment, retention, and motivation of the appropriate staff to achieve the strategy.
  • The third is communication, the aim of which is to align all constituents enthusiastically behind the achievement of the strategy.
  • The fourth and final category I call crisis management, where I parse the issues that posed either a threat or opportunity to the enterprise, requiring the attention of the CEO.

After due reflection on three-and-a-half decades at the helm of a dynamically growing business, six years teaching as an adjunct in the graduate program of a leading entrepreneurial college, and decades as a board member of several well-known food service companies, I’ve become convinced of the worth of this counsel.

Taken from Around the Corner to Around the World by Robert Rosenberg. Copyright © 2020 by Robert Rosenberg. Used by permission of HarperCollins Leadership.  www.harpercollinsleadership.com

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music and iHeartRADIO. Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

 

About the Author

Robert Rosenberg served as chief executive officer of Dunkin Donuts from 1963 until his retirement in 1998. Under his leadership, the company grew from a regional family business to one of America’s best-known and loved brands. Rosenberg received his MBA from Harvard Business School, and in just weeks after graduating at the age of 25, assumed the position of chief executive officer. After retiring from Dunkin, Rosenberg taught in the Graduate School at Babson College and served many years on the boards of directors of other leading foodservice companies, including Domino‘s Pizza and Sonic Restaurants

Self Realization at Work

Posted by Editor on
0
7th Wave
Self Realization at Work

ask2014-cropped-web-nobg-ariel-shya kane

8/12/15 – Self Realization at Work

Do you view the workplace as somewhere you look forward to leaving, even though you spend most of your week there? Join Ariel and Shya in Being Here and rediscover how to have work be a highly satisfying experience.

Listen Live this Wednesday, June 12th at 9am PST / 12pm EST on the VoiceAmerica 7th Wave Network.

After this Wednesday, you can stream or download this episode and over 400 episodes on a wide variety of topics from our archives HERE.

You can also subscribe to BEING HERE on iTunes!

Stepping Stones In Life…

Posted by Editor on
0
7th Wave
Stepping Stones In Life…

SteppingStones---Michael-Lott

You can only reach so far with each step in your life.  Embrace each step as a mini destination on the journey to many larger destinations.    Each individual step has its own unique view and vantage point and is necessary before the next will be revealed.  Sometimes you can see a few ahead, but you will never actually know the experience of it until your standing from that place.

 

Tune in 6/4 @ 11am PT for the FIRST episode of ‘Exploring the Full Spectrum Life‘ with Michael Lott.

Being Loved and Knowing It

Posted by Editor on
0
7th Wave

Maria Danly

The Legendary Leaders Radio Show focuses today on ‘LOVE’. What is it? How do you know when you are loved? How do you know when you are being loving? You’ll learn today what the ‘7 Components of Love’ really are. Then you’ll return to your inner sanctuary and deepen your experience of being loved by your Higher Self. We are opening up the phones lines to take calls where Maria will channel direct answers to your most burning questions from your Higher Self. Listening to these conversations is life changing. Please join us. Tune into ‘Legendary Leaders: Answering the Higher Calling‘ Radio Show this Tuesday at 1:00 pm PST, 4:00 pm EST.

Creating a Culture of Integrity By Marcia Zidle

Posted by Editor on
0
Categories
Creating a Culture of Integrity By Marcia Zidle

marciazidle

Recently I asked a leader on The Business Edge what are some of the lessons learned from your years of experience. He answered this:

The Lesson:
You need a high level of personal integrity. As you move higher up in the organization, your actions gain more meaning and impact, so you need to be true to your core, which is shaped by your values, upbringing and business experiences. You’ve got to stick to that core and when you don’t, you can get negative or undesirable outcomes.

My whole philosophy centers on the impact I have on others. I believe it’s important to be honest and to establish trust between management and employees. People follow leaders and if you violate their trust, people won’t follow you anymore.

 How I Learned It:
I once asked a respected leader what advice he’d give to young executives. He said, “Always do what’s right for the company first, what’s right for the work group second and what’s right for you third.” If you practice this, people will never challenge your motives. It all comes back to staying true to your core and having a high level of personal credibility.

How I Pass It On:
Role models need to walk the talk. Many of our jobs have stressful moments where you have to make decisions and sometimes the right decision is more challenging. People are expecting you to do the right thing; you absolutely have to, even if it’s difficult.

Leaders must be accountable and take responsibility for their actions. There might be cases where I am at fault, and at these times more than ever, I have to be transparent and truthful. This neutralizes the situation so that we can focus on finding solutions to the problem.

Smart Moves Tip:
Actions of the leadership will have more effect on how employees behave than any vision statement or corporate policy which tells them how they are ‘supposed’ to behave. Chances are they already know how they are ‘supposed’ to behave. Create a culture of integrity by way of your own actions will have more effect on your people to behave in the way you want them to.

Marcia Zidle, the smart moves executive coach and speaker, is host of The Business Edge  on the Voice America Business Network. The show features the Smart Growth System providing small to medium sized businesses the proper foundation for expansion: a Growth Agenda that becomes their roadmap, a Growth Engine that attracts and engages the best talent and Growth Leaders that make it happen. Marcia, the CEO of Leaders At All Levels, brings street smarts to help businesses get on the right track and not get sidetracked on their path to higher performance and profitability.


Enjoy this blog? Please spread the word :)

RSS
Follow by Email