Nissan and Renault CEO Carlos Ghosn has a new mission: to rescue Mitsubishi Motors, which is scheduled to sell a controlling stake to Nissan. Mitsubishi's fuel-economy scandal has led it to restate earnings and expect sales declines along with $3.4 billion in costs. Ghosn has a reputation for turning around automakers, and he'll have to cut costs while trusting Mitsubishi isn't hiding anything else.
Ensuring open communication between the CEO and other top executives is vital, say members of the Young Entrepreneur Council. Christopher Kelly of Convene likes to kick off meetings by asking people to share their "win of the week," ensuring an upbeat atmosphere that "creates the trust and energy that allows everyone to subsequently dig into more sensitive topics."
Your presentation or speech can be disrupted in several ways, such as an earlier speaker covering similar material, new information that supplants yours or simply poor time management by the organizers. Stephanie Scotti offers tips for salvaging your presentation, including the need for a backup speech or story.
Nathan's Famous has high profit margins and is easy to franchise, thanks in part to a longstanding commitment to avoiding unnecessary expenses, says recently retired President Wayne Norbitz. "We realized about 25 years ago that you don't need to build a building to sell a hot dog," Norbitz says.
Har Parkash Rishi set his first Guinness world record in 1990 when he was part of a three-person team riding a scooter for more than 1,000 hours. Since then, Rishi has used his body as a platform for experimentation, getting 366 flags tattooed on his body and having all of his teeth removed for a separate record attempt.
72% of American adults have used sharing or on-demand services, according to a Pew survey, but not everyone is taking Uber or booking Airbnb. For instance, that 72% includes ticket resellers and sellers of used goods, and most adults are unfamiliar with terminology like "gig economy." China's young middle class might have to mainstream the sector, says author Arun Sundararajan. "They don't have to readjust from decades of ownership-based consumption. Instead, they'll simply adopt sharing behaviors more naturally," he says.
Leadership starts with understanding the rules, but it's truly on display when knowing when a situation merits action outside the lines, says retired UPS executive Ron Wallace. Be careful. "If there's doubt, ask somebody else," he says.
It's always a good idea to look for opportunities to lead, even if you aren't officially in charge, writes Tangerine Bank CEO Peter Aceto. One possibility: Take the lead in regular update meetings, perhaps by stepping up and taking charge of creating the agenda. "It demonstrates that you have excellent judgment, that you have the ability to take charge, and the ability to be strategic as opposed to simply following others," Aceto writes.
Mercedes-Benz had a reputation for customer service as bad as its vehicles were good, biographer Joseph Michelli says. To persuade dealers to improve, Mercedes helped dealerships save money in other areas to offset the costs. "Once money was freed up, the company started to see the derivative benefit of engaging customers. And then the profits started to align for those dealers too," Michelli says.
Chef Ronaldo Linares has teamed up with the American Diabetes Association to create a cookbook that offers healthy takes on traditional Cuban dishes and new Cuban-inspired cuisine. "As for Cuban cooking evolving, I have seen a lot of the Cuban chefs take it in their own direction but still stick to the flavors that made up Cuban food like citrus, cumin and bay leaf," Linares said.
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