Please use the below information to outline in a 500 word paper to include whether or not you think the strategies in it are sound based on how to become a successful corporate executive. Also include how these strategies can turn things around and grow a failing business.
In Corporate America, very few people rise through the ranks in order to achieve greatness. It is very seldom that we ever hear a story of a person who has gone past the ordinary limitations of Middle Management to become someone that runs an entire multi-national company. Fewer still do we hear that this person is accepted by their colleagues on an equal level considering their background. Today, we will be talking about one such person. Her name is Anne Mulcahy.[LFH1] Originally going to school to become a journalist like her father, Mulcahy was encouraged to join Xerox by her brother. She started to catch the eyes of management for her practicality and engaging demeanor. Mulcahy often credits her family for giving her the practical skills needed in order to succeed in this adventure. She often refers to times when her family sat around the dinner table discussing current events.
Strong decision making skills can mean the difference between a corporation’s collapse and its dominance in its industry. To illustrate this point, let us look at the case of Xerox’s CEO, Anne Mulcahy. As she took office as CEO, she inherited a corporation near bankruptcy due to the failing workforce, financial mismanagement, and a competitive and changing market. Mulcahy faced the risk of uncertainty as the government scrutinized Xerox’s finances and internal conflict when she replaced the ousted CEO with perhaps unpopular decisions to cut spending and staffing.
Later, Mulcahy exhibited the grit and foresight of a strong decision maker. She was willing to follow the course necessary to resolve the problem identified, misspending, even to the point of cutting the division she had created. She also displayed the wisdom of a successful risk-taker with her choice to invest in new technologies and shift corporate production which she based on her knowledge of the changing direction of the printing industry. Furthermore, she never lost sight of what did work at Xerox as she opted to maintain the corporate climate.
In our team, we feel that the ability to make good sound judgment calls on the overwhelming majority of business matters is a must. Often you will find that people’s lack of structure would not allow them to succeed in the easiest of places. Positive decision making leads one to become somewhat fearless as it relates to expected outcomes that get positive results. More often than not, it takes a mind exercising its creative side in order to push a company into a place that it has never gone before. A leader has to ask themselves, is this worth it? The ability to discern what is the correct choice when it may not be the most popular is an ideal key to becoming a leader.
One could argue that the fact that Mulcahey rose through the ranks from sales, that she had a greater sense of the companies’ ideology than someone that would come in at the top and make changes. This is evident in the fact that she eliminated divisions of the company that was not seen as core or groundbreaking not only to sustain the company from where they were at, but [LFH2] to repurpose funds into Research and Development for newer technologies. Her insight is still sought after today. She sits on the boards of multiple companies. Her keen business sense is highly valued around the business world.
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