Can’t help it–I am fascinated with Gregory Meyer’s challenge to the Blockbuster board. For all I know, Meyer is a total flake, but why would anyone have confidence in the CURRENT board of directors who, by the way, are strongly fighting Meyer’s bid?
Click here for details from my earlier post.
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The board meeting is June 24th… am eager to see whether Meyer gets elected.
One of the headlines today in the New York Times reads, “In Gulf, It Was Unclear Who Was in Charge of Oil Rig.”
If “who was in charge” was, in fact, unclear, it is scary, but, in my experience, too often the case.
Example one: Several years ago, in the process of considering whether to accept a family-owned business client, I interviewed 7 family members, most of whom were in the upper echelons of the business. Because the company had no organization chart, I asked each person to draw one for me. No two charts were the same. The mother-in-law thought the son-in-law was running the company; the son-in-law thought the mother-in-law was running the company. No wonder the company was on the brink of bankruptcy.
Example two: A 25-year-old, FDA-regulated company with operations in both the US and Canada had been cited for FDA infractions before my arrival. Unlike the company in example one, this company had a detailed organization chart and job descriptions for every position, so when I met with the Director of Government Compliance and the Director of Quality Assurance, I asked which one was in charge of ensuring FDA compliance. The two looked at each other. Neither could answer.
You will not be surprised to learn that I solved the non-compliance problem by simply designating one person who had both the responsibility and authority for compliance. As a result, during the first FDA inspection following my departure, the company received its first-ever absolutely “clean” bill of health.
The lesson: Imagine a ship with two captains, each issuing different orders—a symphony, in which the conductor is “conducting,” while the concertmaster is directing the strings. No one would ever consider creating either of those scenarios. That’s Management 101. Why, then, do companies, from small to gigantic, allow that to happen?
Renee’s Rule: You can’t have two captains on the same ship.
One of the great things about having a blog is that I get to choose my topics, and today, I choose David Pogue–far and away my favorite technology writer–whose columns I follow in the New York Times. There is a link to his website on my blogroll in the bottom right-hand corner of my blog.
I am an unabashed fan and read David’s columns because I love them. Clearly, David is bright, articulate, practical and, above all, conveys a contagious exuberance in his writing. His columns are a delight, and I am guessing that he, personally, is a delight.
He also has a background in theater and is musically gifted. His intellect and exuberance are on display in that arena, as well. (See this youtube post, an impromptu production recorded in Times Square–be sure you watch the whole thing.)
Last week, The Deal quoted me as saying that technology just might give Borders a second lease on life. Links to the article are available only to The Deal subscribers, so let me explain.
As you may know, financier Bennett LeBow recently invested $25 million in Borders and became its Chairman. That $25 million infusion will buy Borders some time, and a combination of savvy marketing and the savvy use of technology may dramatically improve the company’s prospects.
I, personally, would not invest in Borders now, but it’s premature to count them out.
