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DECIDING IN THE MIDDLE OF ECONOMIC TURMOIL

DECIDING IN THE MIDDLE OF ECONOMIC TURMOIL. 27-MAY-2013 UPF - BARCELONA. D.Cabero M. Le Menestrel. WHY COMING TO SHARE THOUGHTS WITH YOU?. INSPIRING. BEING INSPIRED. D.Cabero M. Le Menestrel.

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DECIDING IN THE MIDDLE OF ECONOMIC TURMOIL

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  1. DECIDING IN THE MIDDLE OF ECONOMIC TURMOIL 27-MAY-2013 UPF - BARCELONA D.Cabero M. Le Menestrel

  2. WHY COMING TO SHARE THOUGHTSWITH YOU? INSPIRING BEING INSPIRED D.Cabero M. Le Menestrel

  3. DECIDING IN THE MIDDLE OF ECONOMIC TURMOIL Defining 1- “the question” / “the problem” 2- the priorities & constraintsDeciding3- Creating alternatives4- The solution that was implementedLearnings

  4. Defining 1- “the question” / “the problem” 2- the priorities & constraints Learning STRATEGY F.O.C. S.A. VISION MARKET VALUES OBJECTIVES COMPETITORS

  5. Deciding3- Creating alternativesLearning 1a Look forotherproductcategoriestoboost sales 1b Reduce headcount 1c Findcustomersforexporttoincrease output & productivity in pantyhosefactory 1d Closedownthepantyhosefactory 1e Others….?

  6. Deciding3- Creating alternativesLearning • DECISION MAKING PROCESS IS ALSO AN “INTERNAL PROCESS” forthepersondeciding • FEELINGS / EMOTIONS: • THE FEAR & INSECURITY • SENSE OF HAVING TOO MUCH RESPONSIBILITY • SENSE OF FAIRNESS/ETHICAL vs UNFAIRNESS/UNETHICAL GREY Whatyou ARE readyto do Whatyou ARE NOT readyto do Learningtolive & to decide in the grey zone

  7. Deciding 4- The solution that was implemented Learning • Wetooktwokind of decisions: • SALES : orientedtogrowmarket shares & open otherbusinesses • - COSTS : orientedto reduce costs & get more flexible organization

  8. Twokind of decisions: • SALES : orientedtogrowmarket shares & open otherbusinesses • 1) FOCUS whereyou can growyourmarket share : • - shavers: “MADE IN GREECE” • - stationerytraditionalchannel • 2) Create a teamtofind NEW BUSINESSES: • => distribution of Smoking Paper & condoms • withsinergies in “lighters” channel Deciding 4- The solution that was implemented Learning

  9. Twokind of decisions: • SALES : orientedtogrowmarket shares & open otherbusinesses • 3) PROTECT yourstrenghts (distributionnetwork) and yourpeople: • - CLOSED pantyhosefactory => italianmanufacturers • - BIC workerswere moved tothe BIC shaversfactory (20 Km away) • As a result: • => weremainedcompetitive in cost • weavoided sales forcerestructuring • whilesavingmanufacturingjobs Deciding 4- The solution that was implemented Learning

  10. COSTS : orientedto reduce costs & get more flexible organization • DECISION in 3 STEPS, adaptingittotheevolution of theeconomic • situation: • 1) takeanyopportunityto reduce headcount: do notreplacevacancies • 2) focused in mainregions (Athens, Salonica, Crete) and leftallthe • otherregionsto exclusive distributors: • - part of the sales teamwas moved toourdistributors • - fixedcosts (salaries) to variable (commissionon sales) • => inventing WIN-WIN Deciding 4- The solution that was implemented Learning

  11. COSTS : orientedto reduce costs & get more flexible organization • DECISION in 3 STEPS, adaptingittotheevolution of theeconomic • situation: • 3) Specialeconomicproposaltoencourage pre-retirement • 4) Talentedyoung managers senttoother BIC countries • 5) All non-labor costsreduced • 6) Lastdecisionweredismissals • => number of dismissals & weresmallcompared • to total exits, and social costreduced Deciding 4- The solution that was implemented Learning

  12. Deciding 4- The solution that was implemented Learning SALES Look for NEW BUSINESSES Dismissal Pre-retirement Focus in opportunities shavers & stationery Talentedpeopleto BIC countries Italianprocurement pantyhose COST Sales peoplewithdistributors No replacement 2007 2011

  13. LearningsLearning • BUSINESS LEARNINGS: • - Anticipationiskey = predicting and movingbeforethingshappen • Biggerfocus in generatingadditional sales (80%) than in cost-cutting (20%) • Do not try tosolveeverything at thebeginning / keepflexibilitytochangedirection • ONE THING I WOULD HAVE CHANGED: LOOK for NEW BUSINESSES from DAY 1 • Do notforget: • tothink “also” longtermacrossalldecisions • PLAY TO WIN

  14. LearningsLearning • PERSONAL LEARNINGS: • - Takecare of yourteam • Be consciousthatemotionswillinfluenceyourdecisions • Set theprinciplesthat are goingto drive yourdecisions at thebeginning • Do notgoaheadwith “tough” decisionsifyoubeleivethey are notthe • rightones => firstconvinceyourself

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