CEO’s Corner

Family-owned businesses represent over 90% of the businesses in the United States today. The multi-generational success of the family business is of the utmost importance to the economy of our country, not only for the profits which they generate but also for the employment which they create. If our family businesses are to succeed into the next generation, they will need to be led by the most capable person, regardless of gender.

Today’s business world focuses on the customer, or in our case, the client. Books have been written on serving customers, staying close to customers, and having customers help design products and services. Yet not much is written on how to be a good customer. As the line between service provider and service consumer blurs, being a good customer becomes as important as providing good customer service.

I have been in business for a good many years, and during that time I have seen many changes in the business climate-most good, some not so good. One area which is especially interesting and troubling is the area of ethics and fair and honest dealing.

Last year, a temporary employee at Ecolab was given a copy of our annual report and a fact book to help familiarize him with the company. On the last page of the fact book is a listing and description of the six qualities that make up the Ecolab culture.

We are in the midst of a fundamental shift in the U. S. to a market-wide labor shortage. The evidence is particularly clear close to home. Minnesota is first among U. S. states in the participation of women in the workforce (70 %) and second in employment for men (81 %). And unless we begin to see an influx of people who are moving here for the weather, employers of all sizes will need to place a high priority on hiring and retaining people.

Technology is having a profound effect on the way we serve our customers at Norwest. They are demanding faster access to their account information. They want more control over their financial lives. They also want more convenience and less paperwork.

Employers are concerned about their workers’ financial futures. That was one of the key findings of a national research study conducted last year by ReliaStar Financial Corp.

Why is HealthPartners encouraging reading to babies and young children? Why are we promoting interactive, stimulating activities between adults and babies and younger children, especially those who are in their pre-school years?

Diversity is not unlike any other business challenge. The more you work on it, the more you learn. 

The latest feel-good cause for the Twin Cities business community in general, and for St. Paul business in particular, is the return of NHL hockey to Minnesota. Businesses were quick to rally for a team and to hang the support banners high. This followed closely on the heels of businesses taking a stand with the legislature to promote a new baseball stadium.

While leading companies around the world have contributed to communities through charitable giving, employee volunteer programs, and responsible environmental practices, a growing number of enterprises are embracing corporate responsibility as a positive business strategy as well as a way to contribute to society.

One of the great ironies of business is that an organization’s strength is at the mercy of its most precarious constituent: its people. Human resources are, after all, only human.

A few weeks ago, the day that John Walter was named the new CEO at AT&T, the stock dropped 2 points. It was the corporate equivalent of the traditional bone-jarring sack that greets rookie quarterbacks.

A world standard of ethical business behavior accepted by our competitors and applied across cultures around the globe? What a naive idea! It won’t work! That was the advice we heard.

Over the years at Toro, I’ve learned a few things about managing the turf. If you think of your turf as your domain—as the environment you operate in—then your turf becomes your area of influence. Turf may also refer to your organization, your work area, your home, garden, or domain.