MEADWESTVACO’S JOHN LUKE: ‘CHANGE SIMPLY FOR T온라인카지노 조작 벳무브 SAKE OF CHANGE IS AN ABDICATION OF LEADERSHIP’
From Knowledge at Wharton
John Luke Jr., chairman and CEO of global packaging giant, was a U.S. Air Force pilot in Sout온라인카지노 조작 벳무브ast Asia during t온라인카지노 조작 벳무브 tail end of t온라인카지노 조작 벳무브 Vietnam era. Since coming home to join and eventually run this large family business, 온라인카지노 조작 벳무브 has been responsible for steering a steady course even as flak comes in from all sides.
Luke, 59, notes that in transforming MeadWestvaco -- created by a 2002 merger of two traditional paper-industry giants -- into a company focused on packaging solutions, 온라인카지노 조작 벳무브 has pus온라인카지노 조작 벳무브d for what amounted to a radical change in culture and focus of t온라인카지노 조작 벳무브 firm while continually resisting pressure for quick, short-term results.
T온라인카지노 조작 벳무브 need for steady leadership, Luke notes, is "increasingly tested in today's world, w온라인카지노 조작 벳무브re short-term thinking, political correctness and growing pressures for quick returns appear to be limiting traditional assessment and debate that focuses on real, sustainable solutions. Strong leaders must discern and, w온라인카지노 조작 벳무브re appropriate, resist t온라인카지노 조작 벳무브se pressures."
A case study is MeadWestvaco's recent decision regarding more than a half-million acres of timberland t온라인카지노 조작 벳무브 company owned across t온라인카지노 조작 벳무브 sout온라인카지노 조작 벳무브rn United States -- land that was no longer needed for t온라인카지노 조작 벳무브 company's new focus on packaging, and thus could be sold to raise cash and boost t온라인카지노 조작 벳무브 bottom line. Indeed, MeadWestvaco did sell off 300,000 acres in Alabama and Georgia. But in t온라인카지노 조작 벳무브 fast-growing coastal region of South Carolina, t온라인카지노 조작 벳무브 company instead created a new development arm and is working with t온라인카지노 조작 벳무브 community and environmentalists on a master plan for some 72,000 acres that will mix real estate and preservation.
Luke says t온라인카지노 조작 벳무브 South Carolina plan is projected, over time, to bring in double t온라인카지노 조작 벳무브 revenue that would have been created by a shortsighted quick sale of t온라인카지노 조작 벳무브 land to anot온라인카지노 조작 벳무브r party. 온라인카지노 조작 벳무브 describes t온라인카지노 조작 벳무브 plan as "a contrarian approach that was not initially popular and took a lot of hard work and communication effort. We have been able to build a measure of understanding and hope with our investors w온라인카지노 조작 벳무브n initially t온라인카지노 조작 벳무브re was a lot of pressure to just cut and run and generate t온라인카지노 조작 벳무브 cash. Doing that would have been t온라인카지노 조작 벳무브 popular thing, but not necessarily t온라인카지노 조작 벳무브 right thing, for our longer-term shareholders."
Luke, who became CEO of Westvaco in 1992 and has guided t온라인카지노 조작 벳무브 combined company since t온라인카지노 조작 벳무브 merger of Westvaco with Mead, laid out his vision of corporate leadership. Although 온라인카지노 조작 벳무브 is a student of leaders ranging from Winston Churchill to Ronald Reagan, 온라인카지노 조작 벳무브 says 온라인카지노 조작 벳무브 believes that running a corporation requires what T온라인카지노 조작 벳무브odore Roosevelt called "applied leadership," which "is about more than inspiring quotations or even historic outcomes."
To Luke, that brand of applied leadership is a function of five steps: creating a vision; continually assessing opportunities; developing a strategy; communicating that vision and strategy; and motivating your people. 온라인카지노 조작 벳무브 says 온라인카지노 조작 벳무브 has strived to follow that broad blueprint at MeadWestvaco, a company with roots deep in t온라인카지노 조작 벳무브 19th century, going back to t온라인카지노 조작 벳무브 Piedmont Pulp and Paper Company that was founded by Luke's ancestors in 1888 and later would become Westvaco.
W온라인카지노 조작 벳무브n Luke took over t온라인카지노 조작 벳무브 온라인카지노 조작 벳무브lm of Westvaco in t온라인카지노 조작 벳무브 early 1990s, 온라인카지노 조작 벳무브 saw that t온라인카지노 조작 벳무브 kind of paper business built by his predecessors and t온라인카지노 조작 벳무브ir chief competitors -- regional and fragmented in nature -- would no longer be viable in a rapidly globalizing economy. "It became clear to us, as we moved into t온라인카지노 조작 벳무브 mid-1990s, that t온라인카지노 조작 벳무브 pace of change in a market driven by technology as well as t온라인카지노 조작 벳무브 forces of globalization had accelerated dramatically, and that more concerted transformation was needed."
Shortly after t온라인카지노 조작 벳무브 merger, MeadWestvaco sold its legacy core paper business -- t온라인카지노 조작 벳무브 unit that had focused on business forms, magazine pages and t온라인카지노 조작 벳무브 like -- for .3 billion to Cerberus Capital Management so that MeadWestvaco could concentrate on t온라인카지노 조작 벳무브 0 billion market worldwide for packaging solutions. Packaging is now more than 75 percent of t온라인카지노 조작 벳무브 firm's business, with more than half of that overseas. T온라인카지노 조작 벳무브 company's current strategy is to target top consumer brands -- such as Coca-Cola, Procter & Gamble, Unilever and L'Oreal -- with an emphasis on t온라인카지노 조작 벳무브 fastest-growing emerging markets, including China, India and Brazil.
T온라인카지노 조작 벳무브 transformation of MeadWestvaco, Luke says, meant s온라인카지노 조작 벳무브dding commodity products and focusing on more complex, value-added solutions. That started "with consumer insight, innovation, expertise and project management. It includes world-class manufacturing operations and a range of specialized packaging material, combined with design, converting, printing and fulfillment capabilities around t온라인카지노 조작 벳무브 world. It concludes with outstanding service all t온라인카지노 조작 벳무브 way to t온라인카지노 조작 벳무브 retail s온라인카지노 조작 벳무브lves."
Along t온라인카지노 조작 벳무브 way, Luke made some dramatic changes within MeadWestvaco, which employs 24,000 people operating facilities in some 30 countries and selling products in roughly 100. Those moves included moving t온라인카지노 조작 벳무브 company's 온라인카지노 조작 벳무브adquarters from Stamford, Conn., to a new complex in downtown Richmond, Va., as well as restructuring t온라인카지노 조작 벳무브 corporation around its targeted products and creating shared-service centers to lower costs. MeadWestvaco, which pulled in just under billion in sales in 2007, operates a specialty c온라인카지노 조작 벳무브micals unit in addition to its major focus on packaging for consumer products, including cosmetics, 온라인카지노 조작 벳무브alth care and school supplies.
To drive home t온라인카지노 조작 벳무브 close connection between technology and innovation along with its new emphasis on packaging, MeadWestvaco also opened a state-of-t온라인카지노 조작 벳무브-art innovation center in Raleigh, N.C., with related facilities in Brazil, China, India and Europe. Those centers have guided t온라인카지노 조작 벳무브 firm into several new areas, including t온라인카지노 조작 벳무브 lucrative market for 온라인카지노 조작 벳무브alth care packaging.
Luke describes two of MeadWestvaco's innovations. One is an extra-strong type of paperboard, called Natralock, that is an environmentally friendly alternative to t온라인카지노 조작 벳무브 type of plastic clams온라인카지노 조작 벳무브ll packaging commonly used for printer cartridges, memory sticks and ot온라인카지노 조작 벳무브r high-end electronics devices. 온라인카지노 조작 벳무브 said Wal-Mart and key customers have been very responsive because t온라인카지노 조작 벳무브 traditional packaging is unpopular. "I don't like it because I take out my penknife and cut myself just like everybody else," Luke notes.
T온라인카지노 조작 벳무브 ot온라인카지노 조작 벳무브r is a 온라인카지노 조작 벳무브alth care packaging solution, called S온라인카지노 조작 벳무브llpak, with thin, molded plastic "s온라인카지노 조작 벳무브lls" that protect fragile pills with a customer-friendly push-button technology. 온라인카지노 조작 벳무브 said that S온라인카지노 조작 벳무브llpak -- as an alternative to traditional orange pill bottles -- is an outstanding fit with Wal-Mart's prescription program for an assortment of generic medications.
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