Whitman quickly realized that HP needed to improve its cash flow. To make that happen, she crafted compensation plans that rewarded several hundred executives whose management contributed to better overall cash flows. This story was originally published by Stanford Business and is republished with permission. Follow them StanfordBiz. Top Stories. Top Videos. Getty Images. Sponsored Business Content. A Relentless Partner Commitment. Whitman realized that the partner sales engine is critical to winning in the IT business and she made sure she and her management team were percent committed, going the distance with sales calls and help, and robust incentives so partners could drive sales growth.
Successful Succession Planning. Absolutely no CEO has done a better job in the technology industry at succession planning than Whitman. In today's entrepreneurial landscape, giving inspiring speeches and raising capital are often venerated as veritable accomplishments. Whitman went much further. She walked the walk. She did the deed.
She grew a small business into a large one. And she chronicled how she did it, leaving a generation of aspirants with actionable tips they could apply to their own growth challenges. For example, in a interview with the Stanford Graduate School of Business , she shared this counterintuitive kernel of wisdom: "The tendency when you come in from outside is to prove yourself by finding what's going wrong," she said.
As logical as that may seem, Whitman suggested taking the opposite approach: First, find out what's going right. In doing so, you'll learn what you don't need to change--not only in terms of operations or sales but also in terms of company culture. Interestingly, Whitman repeated this piece of advice last year in another conversation with the Stanford Graduate School of Business. She said:. My advice, having done this a number of times, is to go into an organization and figure out what that company's doing right, and do more of it.
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