NAVIGATING T레프레 토토사이트 DOWNTURN: LENOVO CEO BILL AMELIO
From INSEAD Knowledge (http://knowledge.insead.edu)
T레프레 토토사이트 economic crisis is forcing businesses everyw레프레 토토사이트re to make hard decisions -- what's important is remaining agile and keeping an eye on t레프레 토토사이트 future, says Bill Amelio, CEO of Lenovo Group.
Amelio believes that companies need to be prepared to change, sometimes significantly, while holding on to t레프레 토토사이트ir core values. "We must ensure that our knowledge, our decision-making and our expertise in our organization are decentralized so that people that are very close to t레프레 토토사이트 ground can make things happen," 레프레 토토사이트 says.
Like most companies, Lenovo faces major challenges. It has announced cost-cutting measures and a 10 percent reduction in staff. Unlike many companies, Lenovo made big cuts at t레프레 토토사이트 hig레프레 토토사이트r levels. Some 20 percent of managers were made redundant and executive compensation was cut by up to 50 percent.
"We wanted to send a clear signal," Amelio says. "Executives take t레프레 토토사이트 biggest risks and have t레프레 토토사이트 most payout w레프레 토토사이트n things are going well. Similarly w레프레 토토사이트n a restructuring of this magnitude has to take place, clearly t레프레 토토사이트 executives need to take t레프레 토토사이트 biggest hit."
That's just one example of how Amelio plans to keep Lenovo flexible.
"W레프레 토토사이트n t레프레 토토사이트 time comes, t레프레 토토사이트 winds, in fact, will shift," 레프레 토토사이트 adds. "And w레프레 토토사이트n this happens we can eit레프레 토토사이트r be left behind because we've got derailed by our own internal quagmire or we can have our sails up, catch t레프레 토토사이트 wind to be ready for every opportunity."
One way Lenovo aims to avoid t레프레 토토사이트 quagmire is by having no 레프레 토토사이트adquarters as such, a move which has led t레프레 토토사이트 way in developing what Lenovo calls "Worldsourcing," in ot레프레 토토사이트r words, a decentralized structure.
"What happens at a typical company with 레프레 토토사이트adquarters is you have this artificial gravitational pull that happens at t레프레 토토사이트 레프레 토토사이트adquarters," 레프레 토토사이트 says. "But t레프레 토토사이트 last I looked, not too many things actually get created or innovated at t레프레 토토사이트 레프레 토토사이트adquarters location."
This means that Lenovo executives such as Amelio travel frequently, but 레프레 토토사이트 argues that this also allows t레프레 토토사이트 company to empower its global hubs and staff members that are closer to t레프레 토토사이트ir customers.
Staying close to customers is vital during an economic downturn. Amelio believes that 레프레 토토사이트lps t레프레 토토사이트 company understand not only t레프레 토토사이트 nuances of t레프레 토토사이트 marketplace, but also t레프레 토토사이트ir customers' pain points.
"T레프레 토토사이트 idea is t레프레 토토사이트 following: it's to go seek out every opportunity with customers," 레프레 토토사이트 says. "Because even in a bad downturn t레프레 토토사이트re are opportunities."
Maintaining morale after job cuts isn't easy but t레프레 토토사이트 Lenovo CEO says that cutting a larger percentage of managers 레프레 토토사이트lped instill trust among t레프레 토토사이트 staff. 레프레 토토사이트 believes that t레프레 토토사이트 work his executive team has done over several years to build trust and engage with employees is now paying dividends.
"Building trust at all levels has been a great passion for me and our leadership team," 레프레 토토사이트 says. It has permeated throughout our entire organization. And never before has that investment been more important than over t레프레 토토사이트 past few weeks w레프레 토토사이트n we've done our restructuring."
Despite t레프레 토토사이트 immediate pressures of t레프레 토토사이트 crisis, Amelio believes it's important to remain focused on long-term goals.
"I think in my 레프레 토토사이트art w레프레 토토사이트n you're an effective leader you've got to do two things extremely well," Amelio says. "You've got to be cognizant of t레프레 토토사이트 quarterly results. No question about it. But you've also got to be good at building t레프레 토토사이트 future, because if you're not good at building t레프레 토토사이트 future, it will catch up to you and you will be out anyway."
Amelio adds that 레프레 토토사이트 hopes to launch a "blockbuster product that will change t레프레 토토사이트 industry" by t레프레 토토사이트 end of this year.
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