How Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeople

How Great Companies How Great Companies Achieve Extraordinary Achieve Extraordinary Results with Ordinary Results with Ordinary PeoplePeople

Presented by: “Ning” Jidapa Ittipong “Mink” Pinyarat

Sirisomboonsuk “Peggy” Sirikanya

Buranabunpot

Presented by: “Ning” Jidapa Ittipong “Mink” Pinyarat

Sirisomboonsuk “Peggy” Sirikanya

Buranabunpot

The Men’s WearhouseThe Men’s Wearhouse

Started operation in 1973Company-based in Houston, TexasOne of the North America’s largest

specialty retailers of men’s apparel with over 500 locations

A full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentals

Started operation in 1973Company-based in Houston, TexasOne of the North America’s largest

specialty retailers of men’s apparel with over 500 locations

A full selection of designer, brand name and private label suits, sport coats, sportwear, outerwear, furnishings and accessories, including tuxedo rentals

Company’s PhilosophyCompany’s Philosophy

Servant leadership

Take advantage of people’s strengths

Employees are customers too

Look for win-win opportunities

Celebrate individual and team success

Servant leadership

Take advantage of people’s strengths

Employees are customers too

Look for win-win opportunities

Celebrate individual and team success

People Resource Management

People Resource Management

This Retailer’s Program

Affects the Employees

Ultimate Outcomes

Training & Development

Rewarding & Motivation

Feedbacks

Skill

Effort

Morale

Employee Performance

Training & DevelopmentTraining & Development

Workers not always from the best pool but have potential to develop

Suit University

Servant leadership

Development of teamwork

Workers not always from the best pool but have potential to develop

Suit University

Servant leadership

Development of teamwork

Rewarding SystemRewarding System

Extrinsic vs Intrinsic

o “Wardrobe Consultant” title

o Stock options and sales commission

Individual vs Team Spirit

o Based on philosophy of “Success comes only when everyone in the store is successful.”

Extrinsic vs Intrinsic

o “Wardrobe Consultant” title

o Stock options and sales commission

Individual vs Team Spirit

o Based on philosophy of “Success comes only when everyone in the store is successful.”

Measures & FeedbacksMeasures & Feedbacks

Focused on behaviors that influence important business functions

Aligned the evaluation criteria emphasis on company’s philosophy

Focused on behaviors that influence important business functions

Aligned the evaluation criteria emphasis on company’s philosophy

OutcomesOutcomes

Differentiated itself in a price-sensitive market

Driven customer loyalty by employee loyalty

Fortune 100 best companies to work for

Increased in sales and profit

Differentiated itself in a price-sensitive market

Driven customer loyalty by employee loyalty

Fortune 100 best companies to work for

Increased in sales and profit

CONSOLIDATED STATEMENTS OF EARNINGS

For the Years Ended

January 31, 2004, January 29, 2005 and January 28, 2006

(In thousands, except per share amounts)

  Fiscal Year

  2003     2004     2005

Net sales $ 1,392,680     $ 1,546,679     $ 1,724,898

Cost of goods sold   879,234       943,675       1,027,763

Gross margin   513,446       603,004       697,135

Selling, general and administrative expenses   431,663       484,916       531,839

Operating income   81,783       118,088       165,296

Interest income   (1,495 )   (1,526 )   (3,280

Interest expense   4,006       5,899       5,888

Earnings before income taxes   79,272       113,715       162,688

Provision for income taxes   29,538       42,359       58,785

Net earnings $ 49,734     $ 71,356     $ 103,903

ConclusionsConclusions

◙ “PEOPLE” is the most important.

◙ “VALUE” comes first. It helps people to be better.

It lowers turnover, increases margin.

◙ It is crucial to be able to turn theoretical knowledge into action.

◙ “PEOPLE” is the most important.

◙ “VALUE” comes first. It helps people to be better.

It lowers turnover, increases margin.

◙ It is crucial to be able to turn theoretical knowledge into action.

ConclusionsConclusions

Company’s motto

“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.

Company’s motto

“We are in the people business not the suit business. The company’s job is to help people understand others, listen better, and develop excitement about helping themselves and their teammates reach their potential as a person.” said George Zimmer, Founder and CEO.

Works CitedWorks Cited

O'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.

“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>.

"The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.

“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.

O'reilly III, Charles A., and Jeffrey Pfeffer. “The Men’s Wearhouse: Growth in a Declining Market.” Hidden Value. Boston, Massachusetts: Harvard Business School Press, 2000. 78-98.

“FORTUNE: 100 Best Companies to Work For” 11 May 2006<http://money.cnn.com/magazines/fortune/bestcompanies/full_list/>.

"The Men's Wearhouse Company." 11 May 2006 <www.menswearhouse.com>.

“U.S. Securities and Exchange Commission.” 11 May 2006 <www.sec.gov>.

How Great Companies Achieve Extraordinary Results with Ordinary

People

How Great Companies Achieve Extraordinary Results with Ordinary

People

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