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What Can We Learn from the Remedy Case?

What Can We Learn from the Remedy Case?. Tom Byers E140A - 2004. Lesson #1.

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What Can We Learn from the Remedy Case?

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  1. What Can We Learn from the Remedy Case? Tom Byers E140A - 2004

  2. Lesson #1 People “issues” in start-ups are just as critical as those strategies related to technologies, products, marketing, and finance/administration. It is worthy of attention and study. It could provide another source of competitive advantage and insure survival during tough times.

  3. Lesson #2 The founders, CEO, and senior management team in a new venture have many challenges and decisions to make regarding people -- how to recruit outstanding people, build an effective team, create a compelling reward system, and establish a winning culture. For example, they have a choice regarding culture. On one extreme, the company can be a “cult of the personality” … often based upon the CEO or technical founder (e.g., Apple). On the other, a consensus-driven, harmonious culture may be centered around the idea of teamwork (e.g., HP). What are the trade-offs?

  4. Lesson #3 A start-up’s leadership may allow the culture to evolve naturally or may choose to proactively establish one. It may selectively use tools such as off-sites, devices such as plaques or “signature” walls, and rituals like Remedy’s tenets to do this. Everything has consequences, and the CEO is ultimately responsible for them.

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