Corporate Case Digital Sampler

8/18/2019 Corporate Case Digital Sampler

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CORPORATE

CASE STUDIESFeaturing

Toyota, GE, and Disney


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pgs. 3-17 pgs. 18-30

pgs. 31-37

http://www.amazon.com/Toyota-Talent-Jeffrey-Liker/dp/0071477454/ref=pd_bbs_sr_1/002-3558968-4600863?ie=UTF8&s=books&qid=1178892103&sr=1-1http://www.amazon.com/Secret-GEs-Success-William-Rothschild/dp/0071475931/ref=pd_bbs_sr_1/002-3558968-4600863?ie=UTF8&s=books&qid=1178892056&sr=8-1http://www.amazon.com/Disney-Way-Revised-Bill-Capodagli/dp/0071478159/ref=pd_bbs_sr_1/002-3558968-4600863?ie=UTF8&s=books&qid=1178891665&sr=1-1


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McGraw-Hill

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London Madrid Mexico City Milan New Delhi

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J E F F R E Y K . L I K E R

D AV I D P. M E I E R

TALENT

TOYOTA

TALENTDEVELOPING YOUR PEOPLE

THE TOYOTA WAY


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If you want one year of prosperity, grow seeds.

If you want ten years of prosperity, grow trees.

If you want one hundred years of prosperity, grow people.

Chinese proverb

The Philosophy of Training andDevelopment within Toyota

A

common expression heard around Toyota is, “We do not just

build cars; we build people.” Every new product development

program, every prototype, every quality defect in the factory,and every kaizen activity is an opportunity to develop people. When

former Toyota Motor Manufacturing North American president

Atushi (Art) Niimi was asked about his greatest challenge when trying

to teach the Toyota Way to his American managers, he responded:

“They want to be managers, not teachers.” He explained that every

manager at Toyota must be a teacher. Developing exceptional people

is Toyota’s number one priority. This has become ingrained through-out the company as a cultural value of the Toyota Way. It is a concept

frequently talked about in other companies, but it is one that is

rarely practiced.

What Can We Learn

from Toyota about

Developing Talent?

Chapter 1

3


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It is challenging to think of many major corporations aside from

Toyota and a select group of Japanese companies that do a great job of

developing exceptional people. On the other hand many countries are

able to develop world-class athletes and musicians and master chefs

and artists and surgeons. There are many professions where top-

quality skill is a prerequisite for success. The professional skill is the

commodity to be traded in the market, so people make enormous

investments in time and energy to develop exceptional talent. For hos-

pitals, having consistently outstanding surgeons can mean the differ-

ence between thriving and fighting lengthy legal battles. It seems that

it is not so obvious to leaders of most modern corporations that devel-oping exceptional talent is worth the investment. The talented engi-

neer or quality inspector or machine operator or supervisor is not out

in front and center for all to see. They are somewhat hidden, and large

companies seem to believe it’s possible to get by without developing

world-class talent.

It is never satisfactory within Toyota to just get by . Toyota’s many

accomplishments and its rise from a small rural-based company toa global powerhouse can be credited to the exceptional talent of its

leaders, engineers, team associates, and supplier partners. Toyota’s lead-

ers truly believe that the company’s only source of competitive differ-

entiation is the exceptional people they develop; that has been their

top priority.

Some might debate whether people are born with talent, or

whether their talent is developed. Toyota’s stance is clear—give us theseeds of talent, and we will plant them, tend the soil, water and

nurture the seedlings, and eventually harvest the fruits of our labor.

This analogy of planting seeds and growing people is a common one

within Toyota, possibly tracing back to the founding of the company

in a farming community. Of course the wise farmer selects only the

best seeds, but even with careful selection there is no guarantee that the

seeds will grow or that the fruits they yield will be sweet. Yet the effortmust be made because it provides the best chance of developing

a strong crop. Even the best seeds untended will probably not turn

out well.

Toyota Talent 4


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We consider people’s native-born gifts to be only about 10 percent

of the total talent picture (or less). In other words, natural talent gifts

account for only 10 percent of the full capability of an individual.1

Fully 90 percent or more of what we consider talent in the life of

company employees is actually learned through effort and repeated

practice. This is the essence of Toyota’s success. Begin with a good

foundation—a person who has the capacity and desire to learn—and

then develop specific talents through repeated effort and practice.

Perhaps the idea that with a basic capability any person can

become, if not the greatest, at least great, is not the stuff of legends. It’s

true that we are all in awe of the greats—Babe Ruth, Michael Jordan,Tiger Woods—the few who are also blessed with pure talent and abili-

ty. It’s not nearly as exciting to watch the middle-of-the-pack players—

the athletes who just work hard and perform well but never have

the buzz of greatness. In 2002 to 2005, championship teams like the

Detroit Pistons and the New England Patriots were known for having

great teams without having the standout stars of their competition.

It is hard to find the ideal people who have exactly the skills that you want. What Toyota has been able to do is gather competent and trainable

people from around the world and, with considerable time and effort,

develop high levels of talent within the masses . It is not a few star perform-

ers who make up a strong team. It is a collection of many players

with good capability working in unison that makes an exceptional team.

Toyota does not hope for the lucky draw of finding the natural talent—

it is a rare find. Instead, Toyota leaders work on the known entity—thelatent talent in each person who has the desire for personal growth.

In this book we explore the process used by Toyota as the primary

tool for teaching and developing this talent. It is not glamorous.

It requires dedicated long-term commitment and effort. It will be

hard work. It is important to see this process as much more than mere

What Can We Learn from Toyota about Developing Talent? 5

1 Obviously there are exceptions to this, such as Tiger Woods who was doing miraculousthings hitting golf balls when he was barely a toddler. But rarely do jobs in companies requiresuperstar talent like the world’s best athletes possess. For the more typical talent pool ofindividuals working for companies and the typical demands of the jobs, we believe the largemajority of talent can be developed.


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training. Training for job skills is a starting point, but the development

of true talent extends well beyond this level. Understand that the foun-

dational tool used for teaching job skills may also be applied to all

other aspects of developing talent. It is the core concept for teaching

and learning and thus can be applied to any situation.

In The Toyota Way Fieldbook 2 we attempted to demonstrate the

consistent applicability of the core concepts and philosophies of the

Toyota Production System (building on the 14 guiding principles

detailed in The Toyota Way 3) regardless of the workplace in which they

are applied. This same idea holds true for the core concepts of teach-

ing and developing people. In Good to Great , Jim Collins describes thisphenomenon as being similar to the laws of physics relative to scien-

tific application of the physical laws. Collins points out that the gen-

eral laws haven’t really changed much but that our understanding of

how they operate and how to apply them has.4 This is a fundamental

element of Toyota’s success—don’t mess with the basic principle.

Rather, deeply understand how to apply the principle in any situation.

We do our best to present the core concepts and demonstrate them insome common applications. With some practice you will be able to

apply them to any situation that involves teaching and learning.

The philosophy of developing people is so pivotal to Toyota that six

of the fourteen principles outlined in The Toyota Way are related to it:

Principle 1. Base management decisions on a long-term philosophy,

even at the expense of short-term financial goals: Perhaps the most

important long-term investment Toyota makes is in its people and

the passion to keep team associates employed for their careers

reflects that value.

Principle 6. Standardized processes are the foundation for continuous

improvement: As we will see, standardized work and job instruction

training go hand in hand, and long-term team associates need to

learn to see waste and make improvements.

Toyota Talent 6

2 J. Liker and D. Meier, The Toyota Way Fieldbook (New York: McGraw-Hill, 2005).3 J. Liker, The Toyota Way (New York: McGraw-Hill, 2004).4 J. Collins, Good to Great (New York: HarperCollins, 2001).


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Principle 9. Grow leaders who thoroughly understand the work and

who live the philosophy and teach it to others: Teaching is the most

highly valued skill of leaders, and leaders have to deeply under-

stand the work to teach and coach others.

Principle 10. Develop exceptional people and teams who follow your

company’s philosophy: Teams depend on well-trained people, and

part of individual development is learning to work in teams.

Principle 11. Respect your suppliers by challenging them and helping

them improve: Suppliers need to have the same talent level as

Toyota team associates and are developed in similar ways.

Principle 14. Become a learning organization through relentless

reflection and continuous improvement: This was intentionally at the

top of the hierarchy of the Toyota Way pyramid because becoming

a learning organization is viewed as the highest level of organiza-

tional effectiveness.

At Toyota teaching is considered the central part of any manager’s job. There is no direct monetary benefit for working to develop peo-

ple or a formal line on a performance appraisal, but the evidence of

this effort is reflected in nearly all aspects of the performance of a man-

ager’s group. If the manager does not foster a teaching environment,

the group’s performance will surely suffer. Toyota has worked to create

a culture in which teaching others is highly valued and viewed as the

key to long-term success. In fact, as we will see, if people are notadequately developed, the entire system will grind to a screeching halt.

The Unfortunate Reality

For the past few decades it has become a general management trend to

talk about the importance of developing people within organizations.

“People are our most valuable resource” has become part of the mission

statement—a guiding principle for many companies. Human resourcesmanagement has gained prominence and has become an important

entity within most companies (often the vice president of the human

resources department is a powerful person in the company). Yet when

we visit companies and talk to employees, we find a different reality. We



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find people who are ill-equipped to perform their jobs, and we can see

people struggling to perform even the most basic tasks. We try to work

with supervisors to lead lean manufacturing transformations and find

that they were promoted because of hard work and company loyalty,

but they lack basic skills in the daily management of their work teams.

We find managers and leaders who don’t have development plans or

the ability to create them, let alone have specific methods for develop-

ing people. And we are constantly frustrated by companies that see

lean as a tool kit and do not understand that the main value of lean

projects is in developing people who can solve problems and make

daily improvements.If people are truly the most important resource, why has so little

been done to improve that asset? Could it be that managers believe they

are doing much more than they really are? Or is the statement that

“people are our most important resource” intended to be a morale

booster to make people feel as though they are a valued part of the com-

pany? If it is lip service without action, people in the company soon

understand that it is just another attempt by management to get peo-ple to feel good about their work and hopefully work harder. “A happy

cow gives more milk” is a truism, but in reality there is much more to

high performance organizations than gimmicks to boost morale.

Something that is clearly lacking in many companies is an effective

method for training people. We work with numerous companies and

with people at all levels within these organizations. Every large compa-

ny has some type of training program in a large variety of areas, fromtechnical to human resources, and many of them have “lean” and “Six

Sigma” programs. Often the training is well delivered by competent

professionals who have good materials and know what they are doing.

Yet, go where the actual work is being done and ask people how they

learned their jobs and you get a different picture. People have learned

their jobs over time in a relatively unorganized way, and the training

courses are interesting but often do not have a direct bearing on theday-to-day job.

One manager explained how he had to “learn the ropes the hard

way,” and he felt that everyone else should have to do so as well.

Toyota Talent 8


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Instead of his bad experience becoming a motivation to improve, it

became a model for future behavior. Not until he looked at the results

of his thinking and behavior—high turnover, mistakes leading to cus-

tomer complaints, daily firefighting, and a general sense of apathy

(indicated by high absenteeism)—did he have an epiphany. By work-

ing with all workers as individuals to ensure their success, providing

them with the skills needed for the job, and increasing their ability, he

found the path to greater success for himself. All great leaders know

that they are successful only through the success of those they lead.

Everyone, it seems, understands the need and can see the deficien-

cy, but too few are willing to step up to the situation and do something about it. Why is this? Why is it so easy to recognize the importance of

a well-trained workforce, but so difficult to act upon this knowledge?

Perhaps there was no effective tool (the Job Instruction method out-

lined in this book is that tool), or perhaps there are no “trainer types”

in the group (unlikely). What is more likely and is highly probable, is

that doing a more effective job of training and development is not crit-

ical to survival in the short term, and thus it is not emphasized. Thecurrent process, as limited and ineffective as it might be, “works.”

Team members are able to get by. The work happens, jobs get done,

and short-term goals are met.

Unfortunately, for most companies, managing their human assets

has for years been secondary to the primary interest of the company—

manufacturing, health care, banking, construction, or transportation.

Certainly people were a necessary part of the company, but in many cases they were viewed as simply a means to achieve an end. Henry

Ford is reported to have said: “Why is it that when I want to hire a pair

of hands, a brain comes attached to them?” People were necessary for

what they could do , not for what they could contribute beyond that.

Thinking, creating, improving, and developing were activities relegat-

ed to the select few with a specific job title—engineer, manager, or vice

president in charge of strategic initiatives, for example. Interestingly those engineers and managers were assumed to get most of their

knowledge and skills from engineering schools or MBA programs, and

rigorous on-the-job training was not much of a focus for them.



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The Cycle of Struggle and Firefighting

What we see in most organizations is a struggle of problems, firefight-

ing, some short-lived relief, and on to more problems. It is a viciouscycle—there is never a new outcome. Issues are not resolved; they are

simply patched for the moment. As with most cycles, it is difficult to

determine where the cycle begins and how to intercede to make a

change. We believe that this cycle begins with an ineffective training

process, which leads to variable and ineffective results, which is then

followed by firefighting (which is totally time-consuming). This leaves

little time for effective training. The circle then begins again with anineffective training process.5 Figure 1–1 shows this cycle.

Toyota Talent 10

Ineffective

training

Ineffective

and varied

results

Firefighting

(time consuming)

No time for

training

Figure 1–1. The cycle of struggle and f iref ighting leads to more struggle and

f iref ighting

5 We believe this to be a bit of an exaggeration. There is time left to do effective training, butfirefighting is a convenient excuse to avoid the situation. This may be because people do notknow how to do a better job with training.


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Breaking the Cycle of Defeat to Create aCycle of Success

Of course, to break this perpetual cycle, it will be necessary to cut inat some point. We believe that lack of time is not the real issue,

although it may seem that way to people in the cycle of struggle. The

reality is, “You make time for the things you want to do in life.”6 So,

if time is lacking, you are simply choosing to do other things, which

you are ranking as more important uses of your time. The only way we

can see to get off the perpetual wheel is to step off. You must take the

time (or find others who can) and invest in your future. We believe there are three factors that ultimately lead to a deficien-

cy in information sharing and learning, which must be targeted in

order to break the cycle.

Defining Critical Knowledge—There is a lack of an effective

method for defining the critical requirements of a job. It is not clear

what is truly important for the successful completion of the work

versus what is personal preference, which may vary from person toperson. For many years, engineers and other staff members have

attempted to identify work requirements and document them,

only to discover later that people will perform the actual work dif-

ferently from what has been prescribed. Knowledge of a particular

job is based on “tribal” information, and many workers seem to

have their own way of doing the work.

Transferring the Critical Knowledge—Whether the work is well

defined or not, the subsequent step of transferring the critical

knowledge to others is mainly the luck of the draw. If new learners

are lucky, they are placed with skilled and competent trainers. This

often depends on the particular job opening and availability of

preferred trainers. It is often the “best” worker who is relegated to

the training responsibility, but very frequently the best worker is

not the best trainer and vice versa.


6 An important lesson from Dr. Donald Hudson, Department of Industrial Technology, Berea College, Berea, KY.


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Follow-Up—Perhaps because of the previous two shortcomings,

there is generally limited or no follow up to verify the results of the

training effort . Without well-defined requirements for a job, how

would it be possible to determine the effectiveness of the transfer

of knowledge? Since there is no systematic and defined method to

ensure that the training process is sufficient, the results are unpre-

dictable, inconsistent, and thus cannot be accurately measured.

The cumulative effects of these three factors are similar to a

calculation of rolled throughput yield. This is the yield attained from

several processes in series when each one produces some quality defects. Suppose that you are 80 percent effective at each element.

Multiplying the factor three times (.8 .8 .8) would yield an over-

all effectiveness of the process of only 51 percent! It is imperative that

all three elements be perfected in order to support an effective training

process. For example, achieving a 96 percent level on the three

elements will yield a 90 percent overall result, which will give you great

performance.

If People Are the Answer, Selecting QualityPeople Must Be the Key

In the 1980s when it became clear that Japanese auto companies were

producing products superior in quality to those made by American

automakers, a common excuse delivered by Ford, GM, and Chrysler

was the “superiority” of the Japanese worker. The story line was thatthe average Japanese worker was somehow more dedicated, more intel-

ligent, and harder working than the average American worker. As with

any excuse, there is a fine line between the truth and the “whole truth.”

This excuse might have been partially true, but the fallacy lay in the

avoidance of the whole truth. The Japanese workers did not become

more dedicated and hard working by luck, or even by cultural differ-

ence. There was a strong concerted effort to develop the Japanese workforce.

Now, 20 years later we often hear a similar excuse with a twist.

Now the secret of Toyota’s success is attributed to the fact that it hires

Toyota Talent 12


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only the best workers. Because of other extenuating circumstances,

Toyota is able to pay higher wages and benefits and thus attract and

retain exceptional employees. Again, there is an element of truth in

this excuse. Toyota does pay good wages, but not the highest in the

industry or across the nation.

The problem with these excuses is that they avoid some realities.

Toyota has taken one of the worst performing plants in the General

Motors system (NUMMI) and turned it into a successful operation.

This was done with 80 percent of the original workforce from GM.

Toyota has also located manufacturing facilities in Kentucky, Alabama,

West Virginia, Indiana, and most recently in Texas. These states rank 35th, 43rd, 34th, 26th, and 24th, respectively, in Morgan Quinto

Press’s 2005–2006 rankings of the 50 “smartest states.”7 Toyota has

taken people from some of the lowest-performing states in the United

States and produced incredible results (no offense to any of the states

listed). In fact, in Japan, Toyota is mainly located in rural areas of the

country where indigent farmers made up the workforce during the

early years. Toyota is primarily interested in hiring people with a strong work ethic. It prefers to locate in areas where people are familiar with

hard work and have the motivation necessary to learn and perform.

Develop People to Ensure Prosperity

The continuing cycle of firefighting and failing to solve the root cause

of the problems must stop. The only way for it to stop is for compa-nies to let go of the excuses and face the reality. In order for change to

happen and for that change to lead to the desired result, it is necessary

to change our motivation. The development of highly capable people

must be a genuine desire. It is not sufficient to state the desire in a

vision statement or on a banner over the door. It must be a genuine

interest, and the motive cannot be tied directly to an ulterior motive

such as short-term financial reward. You must truly have a passion for

developing a workforce with the highest skills and know that in doing


7 Source: www.morganquitno.com


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so the financial gain will take care of itself. This is a difficult leap for

many executives, and even supervisors, who do not see the perform-

ance of their people as being directly linked to their own success. It is

much easier to complain about what is lacking and not working rather

than to make the investment in change. Change forces us to confront

the unknown. It is risky. In many cases past attempts and failures have

led us to believe that future attempts will also end with the same result,

so we don’t try.

There is no doubt that working with people can be extremely

challenging and at times frustrating. It may seem that the process of

change would be easy if not for the people. The fact is that the processof change would be impossible without people. People are harder to

deal with than machines or spreadsheets. They have their own opin-

ions and feelings. What allows Toyota to persist in spite of the chal-

lenges is the overriding philosophy that only people are able to think,

to solve problems, and to improve. People are seen as the key to

expanding and strengthening the company. What is needed is a full

and unflinching belief that people are the key to success, acting as if that is true, and then developing a system to support people in their

efforts. If you say, “People are the most important asset,” and then ask,

“How many heads can I cut out of the process and send packing for

the unemployment line?” you are not practicing what you preach.

The world is becoming hypercompetitive, and managers are strug-

gling to keep up. Companies and smart managers are now realizing

that there is an enormous pool of talent waiting to be tapped to aid inthe struggle. Some are discovering that without the connection to the

talent, it is impossible to survive. As with all things, nothing comes

without a price. Companies are finding out about the challenges of

“getting people involved.” They are discovering that it is difficult to

shift their thinking. Furthermore, when people are involved, their feel-

ings, opinions, and perceptions are involved as well. Companies attack

this with various human resource programs focused on communica-tion methods and time management methods and ways to improve the

work environment, but they miss the core issue: People are not in an

environment every day in which they are actively developing skills to

be better workers and problem solvers.

Toyota Talent 14


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Other companies and some managers still harbor the belief that

people are interchangeable, need to learn only enough to “get the job

done,” and are “a cost of doing business.” People are not viewed as an

asset to grow; they are thought of as a piece of machinery—necessary

to perform a function. If only people would behave like machines and

not talk back or threaten to strike, things would be easier.

It is in this range of perceptions that we work. On one end are the

organizations and individuals who understand the importance of peo-

ple and want to put into practice new methods, but struggle with

changing old ways of thinking and behaving and are not sure exactly

what to do to develop true, deep competence in their people. On theother end are the companies and managers who do not even see

the need for change. The idea of developing people beyond the base

requirement has not entered their minds. A business is a business,

and people are a necessary evil to run the business and should be elim-

inated when possible! This book is intended to provide some guidance

for both ends of the range. We can’t change your mind or perception,

but perhaps we can influence one or the other or both. Our focus is onassisting you to develop your people to be skilled in doing their assigned

jobs so they do exceptional work and continually improve their work.

In Chapter 4 we will briefly touch on native talent or how to select peo-

ple who have the natural abilities needed for a particular job. We will

not be speaking about the natural inclinations that make people better

suited for some jobs compared to others. Certainly we are all different,

and some of those differences are hard-wired. Some people will be nat-urally passionate about going out and meeting people and selling, and

others will be passionate about debugging computer programs and

working in relative isolation. There are different personal inclinations

and personalities and temperaments, and we will not be getting into

how to find the best person-job match to maximize the potential of the

person. To get the most out of people you must consider the whole per-

son. Our focus is more basic—how can we teach people the core skillsneeded to do their jobs so they can become comfortable enough with

the basics to begin to innovate and grow in their jobs?

It seems as though Toyota is in the news every day, and the news

is generally related to some new achievement and the success of the



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company. It has certainly had some serious stumbles that are given

great publicity, but these are minimal in the long term considering

Toyota’s ability to sustain growth and profitability and recover from

stumbles quickly. Few can deny the immense success Toyota has had

and appears ready to continue having. It is our intent to explore the

connection between Toyota’s relentless pursuit of people development

and the resulting successes.

Toyota Talent 16


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THE SECRET TO

GE’s SUCCESS

William E. Rothschild


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TH I S B O O K is intended to acquaint you with the leaders andadaptable strategies that have enabled this 126-year-old institution to

become a managerial, technological, and financial leader—and as a

result, to boast of having one of the most valued stocks in the world.

This book will teach you how and when to:

• Create a succession system that identifies the right leader for the

right time.

• Recognize when even seemingly successful strategies need to be

adapted and changed. Forget the old adage “If it ain’t broke, don’t

fix it!”

• Develop a farm system to create a deep, skilled, and loyal man-

agerial and professional bench.• Take a stand against social, political, and economic policies that

can prevent your company from controlling its own destiny.

The Five Ingredients of

GE’s 126-Year Success

v

I N T R O D U C T I O N


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• Establish, adapt, and use systems—in finance, strategic planning,

and human resource management—that lend stability to the

organization and help it make progress toward its overall goals.

In short, this book moves beyond folklore and platitudes and clearly

describes and explains why GE has been one of the best-led companies

over its century and a quarter of operations and why it is likely to con-

tinue to be a leader.

Over the past two decades, there have been dozens of books written

about the magic of General Electric, especially during the Welch years.

Many of these books, unfortunately, have ignored or downplayed thecompany’s previous 100 years of significant achievements and occasional

failures. But this is a mistake. We can learn a great deal from this com-

pany’s long history and see how its present and recent successes have

grown naturally out of the contributions of generations who have built

this unique corporation into one of the world’s most venerable brands.

vi Introduct ion

Exhibit I-1 The five key ingredients that have combined to make

GE successful: leadership, adaptability, talent, influence, networks.


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General Electric, the oldest company tracked by the Dow Jones

Industrial Average, continues to grow and prosper, even as its peers

have either been driven out of business or are presently operating as

mere shells of their former selves. This book identifies and explains the

five key reasons for GE’s success over its near-126-year existence.

Exhibit I-1 summarizes some of the key elements included in each

of these five success factors. This type of exhibit will be used often

throughout the book to show what was unique about the company in

each of the key stages in its development.

The book will demonstrate that even though GE was strong in each

of these areas, it was the integration of all five, over a sustained period of time, that made the company different. It is this difference that has con-

tributed to GE’s unique 126-year winning streak.

LATIN

General Electric’s success can be summarized by the acronym LATIN,

which stands for these five success factors:

• Leadership

• Adaptability

• Talent

• Influence

• Networks

SUCCESS FACTOR 1: LEADERSHIP

Over the years, GE has been able to select leaders who have been will-

ing to share both power and rewards. All of its 10 leaders, each with an

average tenure of 12.6 years, have had very different personalities,

skills, and abilities, which have meshed with the unique needs of the

company at the time. In fact, since its inception, GE has had a shared-

leadership team approach. It has actively and systematically sought out

the insights and recommendations of its management team members.

The value of this approach may sound obvious—but many companies

fail to use it.

Introduct ion vii


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Further, when GE’s leaders have retired, they have left the com-

pany and stepped down from its board of directors—thereby allowing

their respective successors to lead the company without any inter-

ference. Again, this may sound like Management 101—but history

provides countless examples of clouded successions in which succes-

sors have been overshadowed by their predecessors, which has prevented

them from putting their own stamp on the company and leading . GE has

consistently been out front on this important management practice.

SUCCESS FACTOR 2: ADAPTABILITY

GE’s management has anticipated and responded successfully to major

market shifts. Drawing on its inherent strengths and resources, the com-

pany moved from being a leading electrical systems and products com-

pany to being a highly diversified, multi-industry global corporation.

When its ability to grow profitably and meet investor expectations

was challenged, it adopted its current “strategic portfolio” management

and decision-making approach, which has enabled the company to pur-

sue the most attractive opportunities open to it and to discard those that

didn’t fit.

The book will discuss and assess how the current leader, Jeff Im-

melt, is following the same tradition of systematic change in the com-

pany’s focus and portfolio.

SUCCESS FACTOR 3: TALENT

General Electric has had a very simple, consistent philosophy about

people and talent. The company has recognized from its inception that

people are a valuable resource and asset rather than an entry on the

expense side of the ledger. Its leaders have consistently invested in a

continuing effort to develop the skills of talented people on a career-

long basis in all of the key business functions.

This has given GE a very strong and deep bench, which has pro-

vided the company the great luxury of having the right talent at the

right time in sufficient depth. In the early 1930s, this philosophy was

expanded to include management. In the 1950s, GE institutionalized

the concept of “professional management”—an approach that had both

viii Introduct ion


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strengths and weaknesses but certainly served the company well in

important ways.

But GE went well beyond simple training in its approach to talent.

It also developed the ability and willingness to adopt what I call a

“human-resources-portfolio” approach that evaluated all of the com-

pany’s key professionals and managers and focused on only those who

made the cut. In short, one of the real keys to GE’s success has been

selectivity in all aspects of the business, including its human resources.

GE’s leaders also have demonstrated that they cared about their

employees and other key stakeholders and were willing to share the

wealth while providing programs and benefits to help its key con-stituents in good times and bad. This unique and consistent concern

about people is truly a unique part of GE’s success and is one that will

be discussed in great depth throughout the book.

SUCCESS FACTOR 4: INFLUENCE

The fourth success factor is influencing key stakeholders. All organiza-tions have multiple stakeholder groups, including investors, stockhold-

ers, management, employees, customers, suppliers, governments,

unions, and communities. Each of these groups has power and can

impact the organization’s ability to execute its strategies. Some stake-

holder groups are stronger than others. Some are supportive of the

company’s leadership; others are adversarial.

Over its long history, GE has acknowledged the power of stake-

holders and has ranked some of them higher or lower, depending on thespecific circumstances of the time and place. Investors, stockholders,

customers, and employees have been consistently high on the corporate

priority list, and GE’s leaders have been consistent in trying to ensure

that their interests have been satisfied.

But GE’s leaders have taken different stands with other stake-

holder groups. During the joint tenure of Gerard Swope and Owen

Young, for example, in the early decades of the twentieth century, GE

was a strong ally with Big Government and Big Labor. But during the

Ralph Cordiner era and subsequent decades in the twentieth century,

these groups were considered adversaries, and the company took steps

to minimize or even negate their power.

Introduct ion ix


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GE’s long experience underscores not only the critical importance

of recognizing the different expectations and needs of key stakeholder

organizations, but also being selective in how they are addressed. The

company has learned—sometimes the hard way—that you can’t be all

things to all people and succeed. Sometimes you have to take a stand

and meet the expectations of those stakeholders who appear to be most

important to your company’s current health and future prospects even

if that means that you will frustrate (and possibly energize) other

groups. In short, I believe that GE has demonstrated that it is okay to

be politically incorrect at times.

SUCCESS FACTOR 5: NETWORKS

From its inception, GE has pursued highly conservative, disciplined

financial policies that have earned the company a AAA credit rating. It

has implemented those policies through an integrated set of manage-

ment systems, which I will refer to as “networks.” These networks have

been remarkably robust and disciplined. They have enabled the com-

pany—which has grown increasingly complex over the years—to con-sistently meet its promises and its key stakeholder expectations. These

networks will be discussed through each stage of the company’s history.

x Introduct ion

Exhibit I-2 The four stages of GE’s 126-year history from the

beginning to the present.


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THE FOUR STAGES OF GE’S STRATEGIC HISTORY

This book covers GE’s successes and failures over its four major stages

(see Exhibit I-2). I will describe the five success factors in each stage andprovide an objective assessment of what was done in each realm—both

positive and negative.

Stage One: “Living Better Electrically”

During this period, GE developed and led the electrical industry with a

series of unique strategies and an unusual willingness to recruit a diverse

group of talented professionals and managers. The company also demon-strated a surprising willingness to take stands on major socioeconomic

and political issues, even if those stands were not necessarily popular.

This period begins in the late 1870s with the original Edison Gen-

eral Electric Company, founded and led by Thomas Alva Edison. The

book describes Edison’s “failed strategies” and explains how the com-

pany’s key investors—under the leadership of Henry Villard and J. P.

Morgan—took control and merged the company with Thomson-Houston to form the General Electric Company.

The next phase in this first stage was led by Charles Coffin and

Edwin Rice. They were able to grow the company and at the same time

defend and enhance its strong technological portfolio.

Swope and Young were the successors to Coffin and Rice, and they

were able to jumpstart what was called the “Benign Cycle”: a system

whereby GE used its consumer and industrial application innovations

to stimulate demand for electrical generation, transmission, and distri-bution systems. It was an economic engine of astonishing power.

GE became dominant—in fact, the world leader—in every phase of

the entire electrical cycle. Meanwhile, Swope and Young joined with

their key competitor, Westinghouse, to form a new venture, RCA, in an

effort to break into (and ultimately, control) the infant broadcasting

industry. This was the same strategy that they had successfully used in

the electrical industry; in this case, as it turned out, Swope and Young

were outmaneuvered by the legendary David Sarnoff, and they there-fore lost control of this very attractive new venture.

Beginning with Coffin, but later pushed by Swope and Young, GE

instituted very powerful human resource systems that permitted the

Introduct ion xi


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company to develop a “strong, loyal, and trained” bench of profession-

als and leaders. Both Swope and Young made major contributions to

solving the social, political, and economic issues facing the United

States in the Great Depression. These included being architects of

Social Security and the National Recovery Administration, as well as

inviting the Congress of Industrial Organizations (CIO), which today is

the Congress of Industrial Unions, to organize and represent GE

employees. This provided GE with labor peace from the mid-1930s to

the late 1940s, while other major companies were afflicted with violent

and bloody labor strikes.

Stage Two: Diversification and Decentralization

Using its unique technological prowess, its money, and its deep man-

agerial strengths, GE moved from being a “pure” electrical company to

a highly complex and diversified company, and it instituted unique

management systems and human resource programs to make it work.

World War II transformed GE from a single-industry giant to a

highly diversified, complex organization. Although this stage started with the war, it continued through the quarter century following the

end of the global conflict. Throughout this period, GE was able to

build on its inherent strengths to create many successful businesses.

The focus was on internal development, rather than acquisitions or

mergers, and GE was single-minded in its pursuit of organic growth.

Beginning in the early 1950s, GE’s leader, Ralph Cordiner, decided

that if the company was to remain a successful, diversified company, it

would need to train managers who could manage any business, regard-

less of its industry or size. He therefore instituted a very innovative pro-

fessional management training program that came to underpin both the

company’s diversity and—arguably—its success. Cordiner strongly

believed that both organized labor and Big Government were major

threats to the company’s ability to control its own destiny, so he insti-

tuted a very aggressive and adversarial antilabor and anti–Big Govern-

ment program called “Boulwarism.” Cordiner hired a declining actornamed Ronald Reagan to serve as the company’s corporate spokesman.

As many commentators have observed, this corporate relationship was

the watershed event in Reagan’s conversion from liberal to conserva-

tive, and it eventually contributed to his election as president.

xii Introduct ion


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Cordiner’s record was marred—and his successes obscured—by the

price-fixing scandal known as the “Great Electrical Conspiracy.” I call

this event “GE’s Watergate,” and I think the analogy is apt. The unrav-

eling of the industrywide scandal, involving GE and 28 other manufac-

turers, forced a change in GE’s succession plan and slowed the growth

of the company. To GE’s credit, rather than just trying to “fix what was

broken”—that is, define the problem narrowly—the company made

major changes in how it operated, and it embarked on a risky business

development approach. The key lesson? Although a partial solution was

appealing, it probably wouldn’t have been sufficient.

Fred Borch took over from Cordiner. His major challenge, he soonrealized, was that the company’s revenues had hit a $5 billion plateau and

wouldn’t move. In response, he initiated a “Growth Council” to identify

major growth opportunities that (1) related to GE’s strengths and (2)

were growing faster than the GNP. As an outgrowth of the council’s

work, GE elected to simultaneously pursue nine major new growth areas.

These included four product-oriented ventures (nuclear, comput-

ers, plastics, and aircraft engines) and five service opportunities (enter-

tainment, community development, education, financial and personalservices, and medical services). At the same time, many of the business

units embarked on major global growth initiatives.

In retrospect, we can see that these multiple initiatives—new prod-

ucts, new services, new venues—collectively represented a “bridge too

far” for GE. The company clearly had begun to believe its own press

clippings about its abilities: that it could “be all things to all people” and

that a “GE manager could manage anything.” But the propaganda

turned out to be wrong, and the company’s overreaching had serious

negative impacts on its bottom line. This was called the period of “prof-

itless growth,” and it was the major reason why the company embarked

on its next stage of development.

Stage Three: Portfolio Leadership

This was the period when GE demonstrated the willingness to contin-ually challenge its business portfolio and force itself to (1) focus on

specific markets and industries that were best suited to it and (2) dis-

card those that presented a bad strategic and financial fit. In this

stage, GE changed its core business from technology to financial ser-

Introduct ion xiii


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vices, and it used the resulting financial clout to enhance all of its major

businesses.

The failure of five of his nine new ventures compelled Borch to

rethink the company’s strategies and portfolio mix. He instituted a

strategic-thinking and decision-making process that forced all of the

company’s business units to systematically and critically assess their

portfolios. For the first time in the company’s history, pruning and

restructuring existing businesses became possible—even laudable. GE

disposed of many “losers,” and it aggressively redeployed its resources

into more attractive businesses.

Reginald Jones, a finance-oriented executive who was appointed tosucceed Borch, was even more demanding in terms of financial perfor-

mance. He forced the company’s leaders to continually evaluate its portfo-

lio and—based on that evaluation—allocate resources to those businesses

that were most attractive and profitable and dump those that weren’t.

Jones made one of the most expensive acquisitions in U.S. history—

Utah International, in 1976—in an effort to push GE into the interna-

tional mining sector. But the acquisition failed to meet the company’s

expectations, and ultimately it was divested by Jack Welch. During hisfinal five years at the helm, Jones focused on succession planning, a

process leading to the appointment of Welch as his successor.

The Welch era is probably one of the most publicized and promoted

periods in any company’s history. There have been literally hundreds of

books, articles, and case studies written about how Welch was able to

turn an old, tired, bureaucratic company into a dynamic and entrepre-

neurial organization. Welch reigned for 20 years: a remarkable feat in

itself. He took major steps to restructure the company, initially concen-

trating on pruning and exiting businesses. This earned him the unflat-

tering nickname of “Neutron Jack”—which he loathed—since it was

said he killed the people and preserved the buildings.

Under Welch’s leadership, GE became the most highly capitalized

company in the world. It successfully transitioned from being a prod-

uct-oriented company to being an integrated service organization, with

the largest share of its revenues generated by financial services. This book will put Welch and his 20-year tenure in a historical perspec-

tive. It will show how he continued to build on the foundations and strengths

of the organization he inherited while also emphasizing the new contribu-

tions he made to the strategic leadership and systems of the company.

xiv Introduct ion


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The key lesson of this period is that all organizations must be will-

ing to challenge the status quo—both good and bad—and make the

appropriate changes. Remarkably, GE was willing to make these kinds

of far-reaching changes while it still had options, and it didn’t wait until

it was too late. This is a major difference between GE and other com-

panies: Most organizations refuse to change when things are going well.

They wait so long that by the time drastic change affects them, they go

into a reactive mode that usually involves massive, gut-wrenching

maneuvers.

Another lesson is that it is critical for a company’s leaders to under-

stand why they believe that one sector is more attractive (or less attrac-tive) than another. It’s important for companies to see that these kinds

of judgments include both quantitative and qualitative elements. In

other words, there are judgments that lie behind the numbers, and those

judgments have to be surfaced and understood.

Stage Four: Immelt’s “Back-to-the-Future” Strategy

This is the current period of GE’s evolution, and the book offers a pre-liminary assessment of how its current CEO is refocusing the company

while trying to grow it bigger and bigger.

This stage begins with the selection of Jeff Immelt to succeed Jack

Welch. I titled this stage “Back to the Future” because I believe that Jeff

is trying to build on the successes of the pre-Welch era while continu-

ing to build on Welch’s financially based strategies. An alternative title

could be “What Do You Do When You Succeed a Legend?”

Immelt took over a company that had become inextricably identi-

fied with Welch himself. It seemed unlikely that the company’s financial

performance could continue indefinitely; therefore, a correction—

perhaps a major one—was overdue. But Immelt’s timing was terrible:

Three days after he took office, the country and the world were

changed forever by the horrific terrorist attacks of 9/11.

I will examine and evaluate what Immelt has done to date and how

it compares with both Welch and the 100 years before Immelt took over. I will highlight some of the similarities and differences with past

successful and unsuccessful strategies and policies. Since it is impossible

to predict how successful Immelt will be, the book will focus on placing

his moves in a historical perspective. I will use my personal experiences

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as a basis to identify the positives and potential pitfalls of some of his

strategic and tactical moves.

Making Use of the Success Factors

The final chapter highlights GE’s specific, actionable success factors to

enable you to determine what might work for you.

Although I strongly believe that we can learn from the past and

adapt some of these lessons to fit our own situations, it is important to

continually ask “So what?” What does this really mean, and is it rele-

vant to me? Where it is appropriate, I will highlight some of these “so what’s” in a section entitled “Takeaways” and ask that you take some

time to think about what you have read and determine its relevance to

you. It is vital to recognize that just because something worked in the

past for GE, it may not work in the future for you.

The last chapter, entitled “Success Factors,” summarizes what I

believe to be the most useful lessons to be derived from GE’s experience—

and therefore, from this book. These include the following:

• Avoid cookie-cutter succession planning.

• Create and meet realistic expectations.

• Share power and rewards—avoid being greedy!

• Let your successor take over and lead without interference from

you when you retire.

• Avoid trying to be all things to all people—take your shots selec-

tively.

• Know what you like and be willing to exit and prune even your

core businesses.

• Admit your mistakes and move on.

• Build your own farm system for key positions.

• Seek out the insights and recommendations of your team, but

remember that the buck stops with you.

• Take public stands when needed to control your own destiny.

• Build strong financial, strategic, operational, and human resourcesystems, but be willing to periodically adapt and modify them if

required—without succumbing to fads, of course.

What follows are the trials, triumphs, and lessons of GE, starting

with a remarkable individual named Thomas Alva Edison.

xvi Introduct ion


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McGraw-Hill

New York Chicago San Francisco Lisbon LondonMadrid Mexico City Milan New Delhi

San Juan Seoul SingaporeSydney Toronto

REVISED AND FULLY UPDATED

TheDisneyWay

Harnessing the ManagementSecrets of Disneyin Your Company

Bill Capodagli and Lynn JacksonForeword by John Christensen,

coauthor of the best-selling book FISH!


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ix

Foreword

I can still remember the feeling of excitement that came over me everySunday evening—the great anticipation of getting my grilled cheesesandwich and tomato soup on a TV tray and awaiting the start of myfavorite show.

Then, on the screen it would begin. The beautiful castle would appear,

Tinker Bell would wave her wand and the “pixie dust” would drop, and the

“Wonderful World of Disney” would begin. Wow! All those feelings comeback like it was just last night. For me, that was over 40 years ago, but that

feeling still excites me every time I have a Disney experience.

What is the magic ? Part of me wants to know, while the other part of

me just wants to keep on experiencing it, like wanting and not wanting to

know how a magic trick is performed. Bill and Lynn have cracked open the

curtain so we can all have access to some of the insights into the Wonderful

World of Disney.

It was the Disney standard of imagination and engagement that inspiredme so many years ago, and with that “pixie dust” in my heart I discovered

the FISH! Philosophy, a group of daily practices that reflects the ideals Walt

Disney shared with the world. Now, Bill and Lynn bring these ideals and

practices into practical use, with something for any dreamer to use.

We have all heard of the Disney secrets: customers are called “guests”; theme

parks are called the “show”; and behind the scenes is called “backstage.” But the

real magic that Bill and Lynn share with us is Walt’s underlying philosophy of

“I dream, I test my dreams against my beliefs, I dare to take risks, and I executemy vision to make those dreams come true: Dream, Believe, Dare, Do.”


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The Disney Way x

The Walt Disney Company has seen many changes over the years and is

going through change now, but what keeps on guiding this great big Dream

are Walt’s values and beliefs. Few people have had the chance to see the true

magic behind the curtain, but learning about these guiding principles opens

the magic for so many of us.

In this book, Bill and Lynn give you practical applications of how these

principles Dream, Believe, Dare, Do are lived, not only in Disney’s worldwide

locations, but also in organizations as wonderful as The Cheesecake Factory,

Men’s Wearhouse, and the incredible experiences of Four Seasons Hotels &

Resorts.

Walt gave the world so many gifts—the gifts of dreaming big, believing

in your dreams, daring to take risks, and doing it (executing it)—and you

can share in those dreams too.

Make your dreams come true.

John Christensen

Playground Director, coauthor of FISH!

Charthouse Learning—Home of the FISH! Philosophy


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xi

Preface

Peter Drucker once said, “When you see a successful business, someoneonce made a courageous decision.” Those who have prospered despitea pathway of obstacles have done so with an inner compass that steerstheir course: deeply held values that have crystallized and led them to achieve

tangible results. Walt Disney, the great storyteller and innovator, had such a

compass that defined his enviable empire. His four steps were simple:

1. Dream beyond the boundaries of today.

2. Believe in sound values.

3. Dare to make a difference.

4. And then just go out and do it: Dream, Believe, Dare, Do.

For the past 10 years, Capodagli and Jackson have inspired and led

thousands of leaders, employees, and conference attendees to adopt these

four principles, the success formula that worked for Walt. The Disney Way:Harnessing the Management Secrets of Disney in Your Company was anointed

by Fortune magazine as a “1999 Best Business Book” and “so useful, you may

whistle while you work.” Translated into eight languages, the magic is work-

ing in the lives of countless individuals, teams, and organizations.

The Disney Way is still a popular choice among readers, evidenced by the

Los Angeles Times : “There is still magic in Disney’s words.”

For the past five years, Capodagli and Jackson have been unveiling a col-

lection of unique organizational stories of triumph. You will get to know howthese seven featured organizations have uniquely applied Walt Disney’s Dream,

Believe, Dare, Do principles. Some of the players are widely recognizable; others


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The Disney Way xii

are known only to those to whose lives they have brought meaning. One is a

quiet visionary named David Overton, CEO of The Cheesecake Factory. David

is the classic embodiment of perfectionism, having launched the now legend-

ary mega-menu, themed restaurants characterized by seemingly endless lines of

people anticipating a divine culinary experience. Another is Patrick Charmel,

the so-called “community savior” of Griffin Hospital, who transformed this

ill-reputed facility rapidly approaching bankruptcy to a cutting-edge profit-

able provider of healthcare, now the envy of its esteemed southern neighbor,

Yale Medical Center. Rounding out the list of the featured organizations are

Downtown School of Des Moines, Ernst & Young, Four Seasons Hotels &

Resorts, John Robert’s Spa (Cleveland area), and Men’s Wearhouse.

The revised edition of The Disney Way will captivate readers by these real-

world stories of Dream, Believe, Dare, Do passion that testify to the importance

of holding dear a set of self-evident and unwavering values. These four simple

principles have been practiced by great leaders for decades, standing against the

proliferation of fads and so-called new economy success principles that quickly

fade from view. The industry and community leaders in these inspiring tales are

dedicated to the long term, building their futures one step at a time.

At the end of each chapter is a riveting example of how one of the featured

organizations has put into action the lessons of the chapter. Adherence to The

Disney Way principles of Dream, Believe, Dare, Do has sparked these leaders

and their teams to achieve great things together. How each of these seven

leaders applied Walt’s four principles is the subject of Chapter 13.

At the time of the original writing of The Disney Way , the Disney organi-

zation was the envy of every CEO. Disney had it all: a decade of stock increases

beating the S&P average tenfold; growing theme-park attendance; animation

blockbusters that ruled the box office, rivaling Walt’s earlier classics; and a

culture of innovation, mutual respect, and trust.

With the 2000 recession, the horrific acts of 9/11, and stock prices plum-

meting, suddenly everyone had it in for the Mouse. In 2004, Roy Disney

(Walt’s nephew) rallied stockholders to oust Eisner: Pixar severed its ties with

the company; and Wall Street demanded loftier results. The stage was set for

the death of Disney’s image as “the happiest place on earth.”

In 1984, when Michael Eisner and Frank Wells were respectively named

CEO and president, they demonstrated the leadership to launch the Disney

organization from status quo to the iconic international organization it argu-

ably remains today. For a multitude of reasons (one being the tragic death of

Wells in 1994), by the late 1990s Michael had lost the “pixie dust” that had


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xiii

created one of the most recognizable brands in the world. It was high time for

the new chairman, Bob Iger, to reawaken this sleeping princess of a company

using Walt’s legacy as a compass. Chapter 12, “Re-Creating the Magic,” pro-

vides our recommendations for restoring the magic relished under Walt.

Nothing was ever really easy for Walt Disney. From the early days of

teetering on the edge of bankruptcy after dumping his entire savings into his

“dream,” to being viewed as small time by Hollywood insiders who refused

to view cartoons as candidates for Academy Awards, Walt lived his credo: an

unwavering commitment to Dream, Believe, Dare, Do. These four sound

principles are essential to reaching desirable outcomes in personal and busi-

ness endeavors alike. Yet, there is never any real “pixie dust” for making things

happen. It’s simply about stepping up to the plate and being willing to swing

the bat. The great nineteenth-century Swiss writer, Henri-Frederic Amiel, said,

“The man who insists upon seeing with perfect clearness before he decides,

never decides.”

Every business has two choices:

1. Wait to see if competing on price alone will generate a profit, or

2. Exercise the passion required to produce truly “magical moments” that

keep guests coming back for more.

Thriving in the new economy will never happen without strong values

that are embraced by all employees. With these values as an internal compass,

employees will provide their customers with a unique experience that is not

easily duplicated by others in the marketplace. Similarly, every individual

has two choices:

1. Wait and hope that something or someone will provide the motivation

needed to act, or

2. Take control of your own dream and work to see it through.

This book tells the inside story of just how Disney’s success was achieved—

not by epiphanic flashes of creative insight that produced a Pinocchio or a

Dumbo, but by the force of a much considered, carefully wrought process of

managing innovation and creativity by the adherence to a firmly held system

of beliefs. The succeeding chapters will bring to life how passion for people,

product, and service translated into immeasurable success for Walt Disney

and other great role models. Their stories come to life through examples of

Preface


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The Disney Way xiv

real drive, courage, humanity, and a compelling thirst to make a difference.

Their values allow them to make decisions that are best for their people and

their businesses—in that order. These leaders possess a charismatic quality

that naturally inspires others to challenge themselves. In the same vein, they

rely on the power of everyone on their teams to journey together and unlock

the future possibilities that they believe are endless.

At the conclusion of each chapter, “Questions to Ask” and “Actions to

Take” will provide readers with a roadmap to living the Dream, Believe,

Dare, Do principles and sustaining outstanding rewards in doing so. Readers

will also be enlightened as to how a diverse array of leaders and teams chose a

course to prosperity by exercising Walt’s credo, and, in turn, created “magic”

for their customers.

The inspirational stories in the revised edition of The Disney Way will

challenge the original readers to examine their Dream, Believe, Dare, Do

results and provide new readers with a framework to soar beyond the limits

of traditional management through these four powerful principles. From

entry-level recruits to CEOs, from private companies to public agencies, the

Disney principles are redefining the nature of business in our age and revo-

lutionizing the art of management.

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