2019

Stories related to "General Management."

perspectives

Inside Chipotle with CEO Brian Niccol

When Brian Niccol, ’03, took the reins at Chipotle in 2018 from founder Steve Ells, he brought with him a stellar industry reputation from his time at Yum! Brands, including a stint as CEO of Taco Bell, and senior posts at Procter & Gamble Co. He quickly delighted fans, pulling off a remarkable turnaround of the beleaguered brand through new, innovative ideas in its 2,500-plus stores. For one, Niccol turned off-premises ordering into a reality through new digital offerings, increasing revenue roughly $500 million in one year. “It’s a dramatic change,” said Niccol. Investors are taking notice, with the company’s stock growing by 40 percent in 2018 and hitting an all-time high this August. "It’s time to reshape fast casual. In the restaurant industry, you are seeing a big change in where and how people want to access their restaurant experience. We’ve provided customers with the ability to do that in different ways. The more you can make your brand more accessible without compromising the culinary experience and ingredients, the better. The biggest example is that we’ve created a digital sales system. Two years ago, it made up less than 5 percent of our business; today it’s over 18 percent. Even in the last quarter, digital ordering brought in $262 million of revenue, which is more than that entire business did in all of 2016. We’re giving diners a thought-out experience. When people order through the app, they can walk into the restaurant and grab and go, or get delivery. We put in a separate digital makeline so our team members can handle all of the orders coming in off premises. We don’t want those ordering via digital to affect the restaurant service line."

feature

Building on Big Ideas

Though you might not realize it, you’ve likely encountered USG Corporation’s landmark product recently, maybe even today. In fact, it may very well be in the room where you’re sitting right now. That’s because the company’s drywall, flooring, ceiling, and roofing products are part of countless homes and buildings. As the creator of the iconic and ubiquitous Sheetrock brand of wallboard, Chicago-based USG has led the building-materials industry for more than 116 years, with a storied history of innovation and sales of $3.2 billion last year. It made panels for the 1933 Chicago World’s Fair. It helped build homes for American GIs returning from World War II. And in November 2016, Jennifer Scanlon, ’92, became the first female CEO in the company’s history. “We are a transformed company,” Scanlon said, just days before leading USG’s first-ever Investor Day in New York City. “That transformation came in a number of ways—interestingly, from a lot of the initiatives that I led prior to becoming CEO.” A Chicago-area native, Scanlon joined USG in 2003 after studying government and computer applications at the University of Notre Dame and holding roles at IBM and in operations consulting. In recent years, she has made USG more global and more responsive to its customers. She was named president of the international division in 2010, when it included only Canada, Mexico, Europe, and a small operation in Asia. She went on to lead the divestiture of the European business, and then assembled an Asian joint venture called USG Boral, with $1.2 billion of revenue in 2017.

conversations

How Do You Manage Millennials?

For the rising ranks of millennials in business, 2015 was a watershed year: they surpassed Gen Xers to become the largest generation present in the US labor force. Yet another milestone is on the horizon—Pew Research predicts the 73 million–strong cohort, born between 1981 and 1996, will overtake baby boomers as the country’s largest living adult generation sometime next year. Though millennials are no more or less a monolith than the generations that came before them, many managers have observed that members of this generation are bringing a markedly different set of values to the office than their predecessors. Millennials may be derided as tech-obsessed, approval-seeking job-hoppers, or praised as creative, adaptable idealists, hungry for personal growth. But one thing’s clear: they’re prompting executives across industries to reevaluate the traditional approach to management. We asked three Booth experts what the future holds. William Osborne, ’01 (XP-70), is senior vice president for global manufacturing and quality at Navistar Inc., a Fortune 500 company based in the Chicago area: Millennial employees take a fundamentally different approach to their professional lives, but they’re not the caricatures people make them out to be. They have a different value system regarding the role of work in their lives—work is one component, and not the centerpiece. They value experiences more than what I would call traditional rewards. For example, I just had an employee, an engineer, recently quit the company and move into a completely different position, in purchasing, with another company. It was a fundamental change, and the main reason he gave was that he lived downtown and the new company was downtown. For him, work was a means to support his lifestyle. <br/>This is not necessarily a bad thing. They’re more creative and more innovative—they look at things differently, and that’s what’s driving change. But they’re less willing to compromise personal growth and development for the sake of the corporation. <br/>