Memo to the CEO – serie

Private equity firms are snapping up brand-name companies and assembling portfolios that make them immense global conglomerates. They're often able to maximize investor value far more successfully than traditional public companies. How do PE firms become such powerhouses? Learn how, in Lessons from Private Equity Any Company Can Use. Bain chairman Orit Gadiesh and partner Hugh MacArthur use the concise, actionable format of a memo to lay out the five disciplines that PE firms use to attain their edge: * Invest with a thesis using a specific, appropriate 3-5-year goal * Create a blueprint for change--a road map for initiatives that will generate the most value for your company within that time frame * Measure only what matters--such as cash, key market intelligence, and critical operating data * Hire, motivate, and retain hungry managers--people who think like owners * Make equity sweat--by making cash scarce, and forcing managers to redeploy underperforming capital in productive directions This is the PE formulate for unleashing a company's true potential.

A leader's greatest challenge can be knowing when it's time to step aside. A great deal has been written for corporate boards on the issue of succession planning. But most executives have few resources to help guide them through the process. How do you start preparing yourself--and your successor--for your inevitable leadership transition? In this concise book, leading executive coach and bestselling author Marshall Goldsmith offers candid advice on succession from the outgoing executive's perspective. From choosing and grooming a successor while sidestepping political minefields, to finally handing over responsibility, Goldsmith walks you through each step in the succession process. Done right, your successor can enter to applause while you gracefully bow out and start the next chapter of your life.

Our free-market capitalist system is the world's greatest driver of prosperity, but it has a dark side. Under intense pressure to make the numbers, executives and employees face temptation to cut corners, fudge accounts, or worse. And in today's unforgiving environment, such lapses can be catastrophic. Fines and settlements have amounted to billions of dollars. Careers and companies have imploded. In High Performance with High Integrity, Ben Heineman argues that there is only one way for companies to avoid such failures: CEOs must create a culture of integrity through exemplary leadership, transparency, incentives, and processes, not just rules and penalties. Heineman, GE's chief legal officer and a member of both Jack Welch's and Jeff Immelt's senior management teams for nearly twenty years, reveals crucial "performance with integrity" principles and practices that you can begin applying immediately, and shows how you can drive performance by integrating integrity systems and processes deep into company operations. Such principles and practices also create affirmative benefits: inside the corporation, in the marketplace and in society.Concise and insightful, this book provides a much-needed corporate blueprint for doing well while doing good in the high-pressure global economy. From our new Memo to the CEO series--solutions-focused advice from today's leading practitioners.

It's one of the thorniest management problems around: dealing with unmotivated, low-performing employees. It's easy to point the finger of blame at them. But in most companies, it's the reward system, not the workforce, that's causing poor attitudes and performance: many reward systems actually discourage desired behaviors while rewarding the very actions that drive executives crazy. In Reward Systems: Does Yours Deliver? Steve Kerr describes the steps you must take to create an effective reward system: - Clarify what you mean by "performance" -- in ways that help employees understand how they can support what you're trying to accomplish - Devise an effective performance-measurement system that distinguishes between metrics used for control and those used for employees' development - Design a reward system that motivates people to do what you want them to do while also meeting their needs To get the most from employees, you don't need to add headcount, upgrade your IT capabilities, or hire consultants. You do need to develop the right reward system. This book shows you how. From our new Memo to the CEO series -- solutions-focused advice from today's leading practitioners.

Climate change is one of the most pressing challenges facing the world today. And increasingly, it's become a crucial business issue. How will you and your company respond? In Climate Change: What's Your Business Strategy? Andrew Hoffman and John Woody provide concise and reliable advice to help you answer this question. Drawing from their extensive experience working with organizations to address issues of environmental sustainability, the authors explain the impact of climate change on businesses and present a three-step process for developing an effective climate-change strategy: * Determine your company's "carbon footprint" and the ways in which potential changes in policy and markets will affect how you position your products and services. * Reduce your carbon footprint in ways that create new strategic advantages. * Gain a seat at the policy-development table so you can begin influencing policy decisions that will affect your company. Packed with cogent advice and examples of how organizations in a wide range of industries are adopting this process, Climate Change is your playbook for strategically addressing a complex problem that no company can afford to ignore.From our Memo to the CEO series -- solutions-focused advice from today's leading practitioners.

It's easy to miss many innovations in strategy until they appear on the front page of a major business publication. But by then everyone--including all your competitors--is using them. As a CEO or senior executive, your job is to detect these strategies?and implement them--before your competitors. That's where this book comes in. Author George Stalk has often been called a guru of business strategy. In the 1980s, before anyone else saw its importance, he and his colleagues at The Boston Consulting Group developed the concept of time-based competition: how meeting the needs of your customers faster than your competitors can give you an unassailable advantage. In this Memo to the CEO, Stalk discusses five strategies that have not yet become widely practiced but are nonetheless worthy of your attention now. He offers advice on how to identify and manage them while they still present opportunities to jump ahead of the competition. They are: Addressing supply chain deficiencies One example of a supply chain crisis is the growing lack of West Coast port capacity. Stalk reviews the strategic implications of this problem, reveals its impact, and recommends specific courses of action.Sidestepping economies of scale Many business leaders are reexamining their assumptions about the benefits of scale. Scaling down, not up, and building "disposable factories" and even "disposable strategies" are becoming new keys to lowering costs and boosting performance. Profiting from dynamic pricing Today, using real-time data, it is increasingly possible to match the price of your product or service with the immediate, second-by-second needs of the customer. Embracing complexity Simplicity is the mantra of the day. But with examples from a few leading-edge companies, Stalk shows that embracing complexity can achieve competitive advantage. Utilizing infinite bandwidth In a world of infinite bandwidth, companies that know how to take advantage of it become more productive, efficient, and profitable, and create entirely new businesses along the way. Written in a refreshingly clear, concise format, Five Future Strategies You Need Right Now is filled with actionable ideas for seizing these emerging strategic opportunities.

Today's CEOs are facing a major communications problem: they're getting shellacked by the media. And this is costing companies more than lost reputations--it is costing them lost revenue. In Manage the Media (Don't Let the Media Manage You), veteran business reporter William J. Holstein explains how you can enhance your company's communications skills, strengthen ties to the press, and manage media relationships effectively over the long-term. The incisive insights and practical suggestions in this book will help you take charge of any crisis situation. You can learn to repair your company's public image, and maintain goodwill with the community. Holstein offers you seasoned advice, including how to: - Make sure that your message is always heard - Work with coalitions of labor, environmental, religious, and shareholder groups more effectively - Put press relations first - Establish and maintain positive relationships with the media - Manage the explosion of social media Manage the Media (Don't Let the Media Manage You) is the resource you need now. Your reputation--and your company's--are depending on it.From our new Memo to the CEO series--solutions-focused advice from today's leading practitioners.

As a top executive, you've almost certainly forged strategic alliances with other companies. Some of these deals have worked--but many others have likely failed. In fact, companies worldwide launch more than two thousand strategic alliances every year, and more than half never deliver as promised. In Strategic Alliances, Steve Steinhilber proves that, despite the odds, alliances are critical to the business strategy for companies competing globally: customers want integrated solutions to their problems, and that's pushing companies to work together to create differentiated offerings. Equally crucial, well-managed alliances generate important forms of business value, including new products and accelerated growth. Drawing on his experience as the head of Cisco's Strategic Alliances group, Steinhilber has created tools and guidelines that will help you forge alliances that work.He describes the three essential building blocks of successful alliances and explains how to establish: The right framework--by articulating how an alliance will help you achieve your company's strategic business goals and identifying potential partners The right organization--by staffing your alliance organization with the right people and constantly honing their skills The right relationships--by cultivating trust among the many key internal contacts in your organization and your alliance partners Engaging and authoritative, Strategic Alliances shows you how to manage strategic partnerships more effectively and maximize their value in a complex and changing business environment. From our new Memo to the CEO series--solutions-focused advice from today's leading practitioners.

The current downturn may prove more brutal than most previous recessions. It's already hammering companies in markets around the globe. It will test businesses to their fullest-many won't survive. But downturns present strategic opportunities, too. In fact, many more companies achieve dramatic gains during recessions than in normal times. How to ensure your company emerges successful? In Winning in Turbulence, a new volume in the Memo to the CEO series, Bain & Company downturn strategist Darrell Rigby provides the playbook. He presents a powerful framework and diagnostic tool (available in the book and online) for assessing three dimensions of your situation: - Your industry's sensitivity: How hard is it hit by this downturn? - Your company's strategic position: Are you an industry leader or follower? - Your firm's financial position, including cash reserves.The author then explains how to craft an action plan tailored to the situation you've diagnosed, providing tools for: - Cutting costs intelligently-sustaining your margins and brand - Boosting revenue by refocusing your sales force on the right customers - Channeling resources into your core businesses - Preparing for bold moves, such as game-changing acquisitions Timely and practical, this book positions you to survive a downturn and emerge stronger once the recovery begins.