Group 4, Section D
Group 4, Section D
\\ Bitstream //
* Founded in 1981
* Initially created as a company that would digitized type fonts for display screens and printers. * By 1992, revenues from two distinct line of business- Retail sales ($18mn) and OEM sales ($12mn). \\ The new President joins //
* Jim Sole appointed as president in January 1992
* Worked with IBM and Xerox for roughly 20 years in a variety of sales management positions. * Also, worked as a president of a small company that made electronic publishing equipment. * Spent two years doing consulting for electronic and printing industries before joining Bitstream. * Has been highly successful.
\\ The changes brought about by him //
Problem| Solution given by Jim|
Company was top-heavy and organization chart made no sense| Asked two groups to make new organizational charts that would cut the expense by 15%| Organization was like a political place, with lot of behind-the-scenes manoeuvring| He restricted people from making personal attacks and related the compensation to team performance| Decision making not fast and efficient| He encouraged people to get to a consensus after listening to each other, otherwise he would flip a coin and take decision| Less freedom to work| He allowed people to come up with their own 6-10 objectives and measures of each and evaluated them on these| \\ The Challenges to Growth //
* To ensure that expense growth lags revenue growth keeping a focus on R&D and marketing. * With employee growth of 25% per year and 15% turnover, 40% employees were new. This causes problems in training and gelling. * As people grow they divide responsibilities and specialize jobs and people might feel that their job is shrinking.
\\ The Network Print Manager Project //
* Dramatic opportunity for growth
* Required a synthesis of old technology
* Market already exists and customers are readily identifiable * Prospects of $100 mn
* Found a company(Novell) who has already reached 50% of what they wanted to do * Will be using VARs for marketing
\\ The requirements for the position according to Jim //
* He thought that some prior experience with networking products and VAR channel was important, so he assisted on hiring an external person. * He should be able to see the tail of the development process. * The person has to be a seasoned professional in the sense that they don’t have to be taught how to run a business. * He should be able to learn about the organization quickly on his own. * He should be experiences, energetic and enthusiastic.
* Should be good at marketing; positioning the product, developing the communication plan * Should be a decision-maker and should be able to manage people as Jim does
\\ The hiring process according to Jim //
* Match personal goals with job requirements
* Right attitude
* Look for intellectual curiosity
* Not too worried about specific prior experience
* Basic attitude and aptitude are very important
\\ How Jim went about with the search //
* Jim contacted Peter Dromeshauser and explained him the requirements for the job. * Peter called some senior marketing executives from top companies in the field like Banyan, Adobe, HP, Xerox, Intel. * He shortlisted seven people who looked like good candidates. * He interviewed them and shortlisted four candidates for the final selection.
\\ Selection criteria that should be followed //
| Chris Cowan| William Wendell| Fred Fallon| Mitchell Madison| | Decision Making Power| Authoritative| TBA| TBA| TBA| |...