Rookie Ceo's Management During the Great Recession Essay

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Rookie Chief Executive Officers and the Great Recession: The Dream Job Daniel A. Valentino Keiser University Fort Lauderdale, Florida 3/10/2013 Many people aspire to become managers or chief executives everyday. It’s the “dream job” so to say; good salary and benefits, company paid expenses where ever you go, stock options. What’s not to like? Well how about becoming a chief executive during the worst economical meltdown since the Great Depression. In this paper we’ll scrutinize four rookie CEO’s on how they dealt with the Great Recession. Markets and cities alike were collapsing like dominoes. The automotive, housing and financial industries had gone completely amok from mismanagement, and each needed help from the federal government to continue conducting business. According to George and Jones, a record high 1,482 chief executives resigned, retired or stepped down from private and public companies in 2008. It seems to me, many of these top managers felt overwhelmed due to the toppling economy. Whether it was social responsibility, an under investment of trust from board of directors or huge losses in resources, these managers were unable to provide for stakeholders as a whole. John Donahoe (ebay), James Kennedy (T Rowe Price), Diane Irvine (Blue Nile) and Peter Swinburn (Molson Coors), all recently appointed CEO’s at the time had to deal with all of these factors and decide the best way to lead their company. The management challenges faced by these four CEO’s are similar, in some instances possibly even identical. As George and Jones (2011) show, “Five major challenges stand out for managers in today’s world: building a competitive advantage, maintaining ethical standards, managing a diverse workforce, utilizing new information systems and technologies, and practicing global crisis management.” (p. 22) Donahoe needed to create a competitive

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