Tag: CEO

Career Building, According to Bob

Bob Seelert, non-executive chairman of global advertising agency Saatchi & Saatchi, has been CEO of five companies in three different industries, and a member of the boards of directors of nine companies in the U.S., England and France. In 2009, he wrote a book titled, Start with the Answer: And Other Wisdom for Aspiring Leaders.

During a recent presentation at Wharton, he saved his audience the expense of buying the book by passing out a pamphlet that summarized its key points into what he calls “Bob’s Wisdom for Building a Successful Career.”

During his talk, he elaborated on several of those points:

For example:

When interviewing for a job, know more about the company than the person who is interviewing you does. “It’s easier today than it was in my time because of the search tools on the Internet,” he said, adding that you should also perform a self-assessment of what your strengths are, and then articulate why you will be a great contributor to the company’s future.

Not that this will prepare you for every situation. Seelert remembers interviewing early on with a product manager at General Foods. “He looked puzzled and was shaking his head and finally said, ‘I just don’t understand how someone like you is going to compete with a hot [shot] like me.’ That wasn’t what I expected the opening line of the interview to be. But I was ready.”

In a separate interview during that time, another product manager “started out saying, ‘I could ask you a lot of questions, or we could do it where you ask me a lot of questions. So why don’t you ask me a lot of questions?’ He then took out the world’s largest cigar, lit it up and just sat there. But because I knew more about the company than he did, I kept talking for the next hour. I got hired.” The lesson, Seelert said: “Be well prepared; be ready for anything.”

 Once he was on the job, Seelert was assigned to write a memo about the performance of a new product that was scheduled to go national in three months. “I worked away,” he said. “The memo came back to me all marked up in red.” When he went into his boss’s office to discuss this, he was told: “I know you’re a smart guy, Bob. And I want you in my group. But I also want you to realize that this memo will be seen by a lot of people who don’t know who you are. This memo will form an impression of you, and we want that impression to be the best it can be.” Or, as Seelert put it, “Every memo you write is an ad about you.”  

Time: There never seems to be enough of it. “But the interesting thing about time is that we all have the same amount,” he noted. At Saatchi & Saatchi, “we ask our people every three months to put together their 100-day plan, the six to eight things they want to get accomplished in the next 100 days. Start with a verb, such as ‘Win the XYZ account,’ or ‘Complete the XYZ analysis.’ It’s because we view success in the long term as the result of a series of short-term accomplishments.” The takeaway, he added, is: “Focus on the important instead of getting distracted by the urgent.”

Make your own luck by getting ready to take advantage of opportunities when they come along. Seelert pointed to a story told by Woody Hayes, coach of the Ohio State football team from 1951 to 1978, about a fumble that Ohio State recovered in the other team’s end zone when there were only minutes left to play. Ohio State, which at that point was behind, then went on to score a touchdown and win the game. Reporters were coming up to Hayes and telling him how lucky he was. “He looked at them and said, ‘Lucky, my ass. There was nothing lucky about it. We practiced stripping the ball out of the other guys’ hands. We practiced recovering fumbles.’”

“Ever since then, I have never believed in luck,” said Seelert. “You have to think to yourself: ‘How can I make my own luck?’ Maybe you develop some rudimentary language skills for when an opportunity to work abroad comes up.” Whatever it is, “you need to think about how you can be selected at the moment an opportunity becomes available.”

The difference between management and leadership: “Management is all about planning, directing, controlling and measuring. Leadership is all about standing for something and then going into the fray under that banner,” according to Seelert. “So the big question to ask yourself is, what is it that you are going to stand for? What will people see in you that [means] they will reliably know who you are and what you stand for?” What are the values that will carry you through in your career?

And finally: Consider doing self-evaluations. “I call it footprints in the snow. It’s the things that wouldn’t be happening as well if you weren’t there,” Seelert said. For example, in 1997, he was recruited by Saatchi & Saatchi following the board’s ouster of the founding brothers, who then went on to set up a rival agency. “Saatchi & Saatchi was losing money, burning through cash. Employees were thinking about leaving. I turned the company around in five years. How did I do it? By stabilizing the clients and the staff, refinancing the company, coming up with a strategy for de-merging the company, and hiring a person — Kevin Roberts — to work alongside me. We became great partners.” In 2000, the agency joined the Publicis Groupe, a Paris-based global marketing company. 

“You don’t need many footprints,” says Seelert, “but you do have to be leaving them behind if you want to make it to the CEO job.”

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Apple Without Steve Jobs: How the New CEO Can ‘Think Different’

When people think of Apple, in addition to thinking of now-iconic products like the iPhone, iMac and iPad, they think of Steve Jobs, standing on a stage in his ubiquitous black turtleneck and jeans unveiling the latest in a string of innovative products from the company he co-founded in 1976.

On Wednesday, Jobs announced his resignation as CEO, ending a 14-year run that brought the company back from the brink of bankruptcy and reshaped the personal technology industry. Although Jobs, who has been on medical leave since January, will remain as chairman of the board, Apple chief operating officer Tim Cook will take over the day-to-day running of the company — and the daunting task of becoming the new face of Apple.

“There are few companies where the top person has had as much of an impact [as Jobs has had] at Apple,” Wharton management professor Michael Useem told Knowledge@Wharton for a 2009 story about Apple’s succession planning strategy.

But Apple’s success is due to more than Jobs alone, says Wharton operations and information management professor Eric Clemons. “Apple leadership has been brilliant,” he notes. “The team, clearly led by Jobs, but clearly more than Jobs alone, has become the best technology style house in the world. We pay a premium for Apple products because of how they look and how they feel foremost, and then how easy they are to use and to integrate into the rest of our technology and into our lives.”

Among Jobs’s biggest strengths were the ability to determine what the customer wanted and the will to force through “bold decisions that ultimately proved to be correct,” Clemons says. “In some ways he was indispensible. But he was never the whole story.”

Cook, who joined Apple in 1998 after stints at Compaq and IBM, also ran Apple during Jobs’s previous medical leaves. As COO, he oversaw the launch of Apple’s online store, fine-tuned its manufacturing process and revamped its customer support arm. Although Cook has appeared at least once in Jobs’s trademark black turtleneck and jeans, Wharton management professor Peter Cappelli says it would be a mistake for him to adopt a leadership style that copies Jobs. “A copy of anyone is going to come off looking bad. It will never be as good as the original, and people will spend their time focusing on the differences,” Cappelli notes. “I think [Cook] should be himself.”

But when it comes to Apple’s business strategy, Cappelli says it would be unwise to depart in any significant way from the path set under Jobs. “I think a ‘steady as she goes’ approach is a good idea, and also about the only option at this point.”

Apple shares fell 7% when news of Jobs’s departure broke Wednesday night, but the drop had narrowed to 2% by this morning. Most analysts expected the company to remain strong in the post-Jobs era, although Deutsche Bank cautioned that “risk is more likely to be centered around Apple’s three-to five-plus year product plans if/when Jobs permanently departs,” the Wall Street Journal reported.

And JMP analysts put a rare “hold” rating on the stock, noting that “it is not immediately evident to us how Apple replaces the irreplaceable and we are maintaining our neutral stance on the stock until it becomes clear — either that innovation and operational efficiencies will continue unabated under new management or that they are breaking down.”

According to Clemons, Cook must emphasize that, although Jobs is no longer at the helm, the design and strategic teams behind Apple’s success will remain intact. He says Cook could also buy back stock if the price drops temporarily. “The fundamentals of Apple as the premier high-tech design house and the premier integrated consumer technology company have not altered.”

For more on the evolution of Jobs’s career at Apple, see:

Encounters with Steve

Job-less: Steve Jobs’s Succession Plan Should Be a Top Priority for Apple

The Succession Question at Tech Firms: When’s the Right Time to Go?

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