how great companies achieve extraordinary results with ordinary people how great companies achieve...
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How Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeople
How Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeople
Presented by: “Ning” Jidapa Ittipong “Mink” Pinyarat
Sirisomboonsuk “Peggy” Sirikanya
Buranabunpot
Presented by: “Ning” Jidapa Ittipong “Mink” Pinyarat
Sirisomboonsuk “Peggy” Sirikanya
Buranabunpot
The Men’s WearhouseThe Men’s Wearhouse
Started operation in 1973Company-based in Houston, TexasOne of the North America’s largest
specialty retailers of men’s apparel with over 500 locations
A full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentals
Started operation in 1973Company-based in Houston, TexasOne of the North America’s largest
specialty retailers of men’s apparel with over 500 locations
A full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentals
Company’s PhilosophyCompany’s Philosophy
Servant leadership
Take advantage of people’s strengths
Employees are customers too
Look for win-win opportunities
Celebrate individual and team success
Servant leadership
Take advantage of people’s strengths
Employees are customers too
Look for win-win opportunities
Celebrate individual and team success
People Resource Management
People Resource Management
This Retailer’s Program
Affects the Employees
Ultimate Outcomes
Training & Development
Rewarding & Motivation
Feedbacks
Skill
Effort
Morale
Employee Performance
Training & DevelopmentTraining & Development
Workers not always from the best pool but have potential to develop
Suit University
Servant leadership
Development of teamwork
Workers not always from the best pool but have potential to develop
Suit University
Servant leadership
Development of teamwork
Rewarding SystemRewarding System
Extrinsic vs Intrinsic
o “Wardrobe Consultant” title
o Stock options and sales commission
Individual vs Team Spirit
o Based on philosophy of “Success comes only when everyone in the store is successful.”
Extrinsic vs Intrinsic
o “Wardrobe Consultant” title
o Stock options and sales commission
Individual vs Team Spirit
o Based on philosophy of “Success comes only when everyone in the store is successful.”
Measures & FeedbacksMeasures & Feedbacks
Focused on behaviors that influence important business functions
Aligned the evaluation criteria emphasis on company’s philosophy
Focused on behaviors that influence important business functions
Aligned the evaluation criteria emphasis on company’s philosophy
OutcomesOutcomes
Differentiated itself in a price-sensitive market
Driven customer loyalty by employee loyalty
Fortune 100 best companies to work for
Increased in sales and profit
Differentiated itself in a price-sensitive market
Driven customer loyalty by employee loyalty
Fortune 100 best companies to work for
Increased in sales and profit
CONSOLIDATED STATEMENTS OF EARNINGS
For the Years Ended
January 31, 2004, January 29, 2005 and January 28, 2006
(In thousands, except per share amounts)
Fiscal Year
2003 2004 2005
Net sales $ 1,392,680 $ 1,546,679 $ 1,724,898
Cost of goods sold 879,234 943,675 1,027,763
Gross margin 513,446 603,004 697,135
Selling, general and administrative expenses 431,663 484,916 531,839
Operating income 81,783 118,088 165,296
Interest income (1,495 ) (1,526 ) (3,280
Interest expense 4,006 5,899 5,888
Earnings before income taxes 79,272 113,715 162,688
Provision for income taxes 29,538 42,359 58,785
Net earnings $ 49,734 $ 71,356 $ 103,903
ConclusionsConclusions
◙ “PEOPLE” is the most important.
◙ “VALUE” comes first. It helps people to be better.
It lowers turnover, increases margin.
◙ It is crucial to be able to turn theoretical knowledge into action.
◙ “PEOPLE” is the most important.
◙ “VALUE” comes first. It helps people to be better.
It lowers turnover, increases margin.
◙ It is crucial to be able to turn theoretical knowledge into action.
ConclusionsConclusions
Company’s motto
“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.
Company’s motto
“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.
Works CitedWorks Cited
O'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.
“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>.
"The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.
“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.
O'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.
“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>.
"The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.
“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.
How Great Companies Achieve Extraordinary Results with Ordinary
People
How Great Companies Achieve Extraordinary Results with Ordinary
People
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