(1) To drive value: This means to increase the value of the company, basically to help the company increase profits. Other stuff, like number of customers, can also mean value.
I can’t drive long-term value without sacrificing short-term profits. That’s our choice.
(2) Conflict: Disagreement, different people want different things
The marketing and development teams are often in conflict. It’s a big problem. If they can’t work together, we’ll all fail.
(3) To hide behind something: To use something as an excuse, a reason for failure.
Don’t hide behind the economy. Lots of companies are succeeding even though times are hard.
1. He explains two things in this video. What’s challenging about his job and …
a. …what’s boring
b. …how he makes value
c. …what’s exciting
2. Who is he responsible towards?
a. Shareholders, employees, customers
b. Shareholders, suppliers, customers
c. Shareholders, employees, suppliers
3. What doesn’t he like to hide behind?
a. A value-driven economy
b. A bad economy
c. A customer-driven economy
By Jeremy Schaar
Today’s video is about a CEO and why he likes his job. It’s by WOBI and is called: Mark King–What I Enjoy Most About Being CEO. Today, I’ll help you understand that video.
So, in this video he explains two things. He explains what’s challenging, or difficult, about his job. And he explains what’s exciting about his job. Let’s check the most important quotation first. He says:
Being a boss is a challenge because of the responsibility to the shareholders for driving value…responsibility to the workers to provide an environment that’s right for them…and responsibility to the consumer to provide a product that they will really enjoy. A lot of times, the shareholder, the employee, and the consumer; what they want is in conflict. How do you manage the conflict?
His point is that he has three groups that he should make happy. The first are the shareholders–they want value, or profits. Employees want a good working environment. And consumers, of course, want a good product.
He then gives the example of this conflict. If there’s a product that has some problem and you should take it back from the stores, then that’s bad for the shareholders right? For some employees it’ll be bad because that will mean more work and lower bonuses. But for consumers? For consumers it’s great. They won’t have bad products.
So how about you? What would you do in this situation? Do you care more about the shareholders, employees, or consumers? Leave your thoughts in the comments.
The exciting part of the job for him is that the challenge never ends. This means that he likes the conflict. He likes balancing the three groups. For example, he says that you can’t hide behind the economy. This just means that even if the economy is bad, he still has to keep trying. Even with a bad economy, the exciting challenge continues.