When a business is struggling, most leaders would start cutting back on headcount to save money. But not Hubert Joly, former CEO of Best Buy.
At the time he was appointed CEO, Best Buy was on the brink of shutting down. But Hubert not only didn’t cut people, he actually put more money into training, incentives, and wellness.
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Hubert believes that every business has 3 imperatives:
👍People Imperative. You need to have good people who are well-trained and well-equipped.
👍Customer Imperative. You need to have happy customers to whom you sell.
👍Financial Imperative. You need money.
According to Hubert, strong financial performance is an outcome of the Customer Imperative. And the Customer Imperative is an outcome of excellence on the People Imperative.
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