Word: ceos
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Dates: during 1990-1999
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Even New Age companies formed around feel-good management can't avoid it. In Portland, Oregon, Hanna Andersson, a mail-order retailer and maker of children's clothing revered for its mother-friendly workplace, recently let go 25% of its work force. CEO Gun Denhart had also won kudos for her "Hannadowns" program, in which used Hanna clothing could be returned for a 20% credit toward the next purchase. The used clothing was then donated to homeless children. But rising postal and paper costs took a toll on this company, which last year had chalked up $52 million in sales...
...that these same companies have been able to embrace the leading management trends of the past decade: flat organizations; bottom-up management; empowerment; customer-focused, just-in-time manufacturing, and total quality. These philosophies demand a flexible and dedicated work force not locked in battle with management. As a CEO put it, "This is not do-good stuff. This is the way you make money...
Having plopped down a reported $20 million only a year ago, Ronald Perelman, chairman of Revlon and New World Communications Group, and David Pecker, CEO of Hachette Filipacchi Magazines, were understandably interested in what their new property, Premiere magazine, had in store for its 600,000-some circulation. But interest quickly turned to interference that has now led to the resignation of two top editors and near rebellion by the staff...
Until last week that looked to be the case for Prodigy, the country's pioneer consumer online service. Frozen by a billion-dollar debt, the company watched helplessly as America Online and CompuServe blew past in an online explosion. By the time CEO Edward Bennett arrived last spring, he was left with a simple choice: reinvent the company or fold...
When Louis Gerstner arrived as CEO of IBM nearly three years ago, industry insiders saw the company's also-ran computer-operating system, called OS/2 Warp, as a likely target for the corporate ax. With just 13 million users, far behind Microsoft Windows' 120 million, OS/2 seemed doomed. But instead of killing the project, Gerstner beatified it, assigning the company's top engineers to it and giving V.P. Wally Casey a blank check for development. The results of the effort, code-named Merlin, will begin shipping to beta testers in the next month...