the ceo magazine, ceo salary,

St. Louis Cardinal Matt Holliday makes $17 Million a year. A hot dog vendor at Busch stadium makes a little above minimum wage, or about $10 an hour. 

A professional baseball player and hot dog vendor both work in the same stadium for the same number of hours addressing the needs of ticket holders. However, it would take the hot dog guy a thousand years to match the one-year salary of a top player, yet no one complains.  In fact, most ardent fans would scoff at a comparison, pointing out that Matt Holliday and those of his ilk have practiced thousands of hours to hone the skills that make them the hometown favorites that can fill a stadium with fans who hope to see evidence of the player’s skills and past performance. If a top ranking player strikes out, throws balls instead of strikes, or generally performs badly, no one docks his pay.

the ceo magazine, strategy,

I used to do strategic planning year-by-year looking at the previous year and then thinking of an incremental improvement over the previous year. This worked, but we missed many opportunities because we didn’t start with a vision of the future.

High growth companies look out at least 3-5 years into the future. They decide when they will double their growth and what markets they will dominate. Starting with the end in mind, you work backwards from your end goal to determine what has to be done this year and then this quarter.

I really like Dilbert— Scott Adams’ dry take on the ins and outs of corporate life always makes me laugh. Not long ago Adams did a series on mentoring, where engineer Wally seeks out the company’s CEO and asks him to be his mentor. “Yes I will!” the CEO replies. “You are wise to ask because it shows you have the drive to succeed.”

     Today’s marketplace teems with both opportunities and competition. The way to succeed amid continuously changing circumstances, in my view, is to pursue a strategy for growth. My firm, Spector Group, which is celebrating its 50th anniversary this year, has for years followed three distinct, but interconnected elements for strategic growth:
• Deepening relationships with current customers
• Identifying and prioritizing market opportunities
• Adopting a differentiated brand position

The strategic planning review meeting started on a downbeat note. “We just lost Acme, our biggest customer. How could this happen?” Fred, the CEO of what I’ll call Precision Manufacturing, was more sad than angry. “Acme always gave us a positive review in our annual survey. We visit them at least monthly. How could this possibly happen?”

Since there are only four reasons an established, satisfied customer will switch vendors, I said, “Let’s see if we can figure it out.”

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