Introduction: CEO in 2008: Kasper Rorsted, Studied Economics and has experience in technological companies. Management style was based on face-to-face conversations and pushing for more efficiency. Henkel until 2008 Founded in 1876 as a producer of detergent, by 1920 it was a leading German detergent en glue producer.

Place an order for research paper!

Database of essay examples, templates and tips for writing For only $9.90/page

After WWII: company restarted as a producer of detergent, glues and personal care products. In 2008: 14 billion euros sales over 125 countries: 2008: 14 billion in sales (+8%) EBIT-margin (10,3%) =>no competitive spirit?! (“The happy underperformer”) 2nd part of 2008: Financial crisis: Price increase by Henkel =>growth in all the business units fell. Reaction of Rorsted (CEO): transform the company into a leaner and more performance driven company by setting 4-year financial goals (2012) for Sales growth (3-5%) – Biggest acquisition ever of 3,7 billion euros for the adhesives and electronic material businesses of the National Starch and Chemical Company. – Dial brand: high investments in North-America =>top brand in body wash markets.

Selling underperforming brands. Vision and Values Focus on financial goals and priorities =>becoming a winning competitor 10 values (see exhibit 5): but they had little meaning inside the company BUT: the CEO Thought they had..2010: Henkel: ” a global leader in brands and technologies” putting customers central A lot of employees have careers of over 20, 30 or even 40 years within the company. 2009: new performance management system for 4 layers of management.

For each employee there was: 1) the current rating of his performance and 2) potential performance for the future. These were put in a grid (exhibit 7) with scores going from L (low), M (moderate) to T (Top) For potential performance numbers were used from 1 to 4 with 4 the limit of performance of someone. These rankings were set up during a Development Roundtable (DRT), a collaborative forum with a group head and his direct reports. Afterwards, the results were discussed during a one-to-one with the employee.

DRT-processes were done bottom-up. Targets were set about how many employees should be fitted in a certain category. E.g; 5% had to be L =>caused a different way of analysis within the business.

Bonus compensation Bonusses were linked to the overall company financial performance, team performance and individual overall performance.

< Prev post Next post >

Raising Achievement of Ethnic Minority Children Essay

This literature review would explore the obstacles in bringing up educational achievements of ethnic minority learners. As this is a broad area of concern the literature could examine two main ...

Influencs of Western Culture on Indian Youth Essay

American culture is definitely neither homogeneous nor predetermined. As with other cultures they have evolved and gradually transformed over time. Most generalities about this have their exclusions at some time ...

Western and non-Western cultures Essay

Relationships take place all over the world, and thus some people may well assume that they are the same. Actually this is not authentic, and it is a mistake of ...

Sustainable agriculture Essay

Organic foods are becoming more available in all types of shops where meals is sold. Currently, instead of scouring many stores looking for organic foods, they have become available for ...

Conflict and Functionalist Theory Differences Essay

Intro The discord theory originated from Karl maximum, the famous sociologist, during his original advancement the theory and his fine-tuning job, he included the skills of different sociologists like Georg ...

Heritage Assessment Assignment Essay

Growing up, this never was as noticeable that the families and friends that you connected with shared different beliefs, had been from different cultures, and were just different from you ...

Cultural Meaning Essay

The meaning humans give to activities, concepts and behaviours relies on the cultural milieu and it is conditioned to an excellent extent by underlying meaning systems, principles and support frames ...

History of Work Force Monitoring and Surveillance Essay

The extent that organizations screen their personnel reflects a whole lot about how the business perceives the employees. Staff surveillance includes email and internet monitoring, gathering of personal data, biometrics, ...

Biblical Worldview Essay

Biblical worldview which could also be Christian worldview identifies the construction of tips and beliefs through which a Christian specific, group or culture interprets the world and interacts with this. ...

Negative effect of video games on children Essay

The Negtive Effects of Video Gaming in Children Children don’t need to buy a pricey gaming system to play video games any more, than can merely log onto the world ...

Category: Tradition,

Topic: Culture,

Words: 356

Published:

Views: 590

Download now
Latest Essay Samples