5 Tips From Philp Schoonover in the WSJ

This comes out of the Wall Street Journal. The Monday, February 11th 2008 edition, on the Front page of Market Place section is an article entitled "Can Circuit City Survive Boss's Cure?" The article is about a man by the name of Philip Schoonover who took over as chief executive in 2006. He has made some major changes to the company including a $200 million annual budget cut, and layoffs of 3000 employees. The company he says is headed for a long progress turn around, but is still reporting losses, and talk on Wall Street wonders if the company will actually be able to get itself back on its feet. On page B3 the article continues and Schoonover gives 5 Tips for Managing in a Turnaround. "#1: Listen to employees. The best strategies come from the bottom up, not the top down. #2: Refresh management. Different stages of the a turnaround require different skill sets. 3#: Embrace your heritage. Play to and upgrade your company's historic strengths. #4: Protect the future. A CEO must make decisions that protect the company after a turnaround. #5: Stay the course. There will be bumps along the way; stay focused on the big picture." (from the WSJ, pg B3 from the cover of the Market Place section. Monday February 11th 2008)

I think these are great tips. I think that even in other situation, not turnarounds, these tips can be useful. If you play to your companies historic strengths all the time your bound to build those strengths even stronger. Same with any of these tips, Ford during the Hybrid SUV development even played out one of these, "refresh management, by bringing in Mary Ann Wright.

Jonathan Fairbank

Experience; the Effective and Efficient Teacher

The books says that some where between 50 and 80% of all the knowledge gained by an accomplished manager comes from experience. I truly think there is no other way to learn how to be a manager. Especially one that is effective, and efficient manager. I believe this applies to the ability to handle ethical and social responsibilities. Like i have said before, "As a person you can not expect to understand a situation fully, unless you are part of the situation and also have a little hind sight pertaining to that situation. Which is probably close to the definition of experience. I could then apply this to the law makers, and government authorities. The people that we elect to government, must be experience in real world business, and relationships, and live as part of society. Instead in America we are in love with the career politicians, that say the have 35 years of experience in gov, or 20 years in congress, or 8 years as president, and 3 terms as mayor. That means to me, yes they know how to work politics, they know how to follow the procedures of holding office, and doing the duties of those positions. The questions you have to ask yourselves, is not "do they know how to work in and with government, and other officials", but instead ask yourself what experience out side of gov't do they bring to improve to processes, and make what already exists more effective and/or more efficient.

Social responsibility applies to all citizens, young and old. I believe that we are all slacking, not doing our part, we need to step up and do 110% and be selfless. It is not just up to government officials, and CEOs of large companies. These are the people that help society to organize, plan, and develop to the processes in which
we a citizens of the world uphold our civic duties.

Thank you Jon