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Steve Bennett joined a company called Intuit

Essay Topic: ,

This paper deals with issues relating to a newly hired CEO of an existing company. The CEO incorporates his own ideas and systems into that company to change the flow of productivity. His implementations had successes and failures. It is important to note the criticism as such in order to best determine what he could have put into place. In January of 2000, an individual by the name of Steve Bennett joined a company called Intuit. Intuit is responsible for the Quicken software, and Bennett served as the company’s president and chief executive officer.

There were several factors leading to the success of Intuit.

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First and foremost, Bennett was not without experience. He spent the past twenty-three years at General Electric and was benefited by the already in-place expertise that Intuit’s already in-place expertise. Bennett’s goal was to have the leaders at all levels of Intuit make decisions that benefited the whole company. However, twenty-four months after his acceptance into the company as CEO, Intuit was still struggling with this new concept and the steps Bennett implemented to reach that concept.

Several tense moments developed between existing managers. One of the steps was that managers were now expected to concentrate on their own work but also on the work and development of the entire organization. In doing this, the managers were expected remain accomplished. Bennett felt that roles were unclear and not clean cut. There seemed to be no cross organizational procedures in place and he aimed to fix that. It wasn’t long before his intentions became confusing, as the primary focus and responsibility of the managers was convoluted.

What formed as a result was a staggering chasm between the two parties. Chaos ensued, as employees were left to weed through new changes, more rules and altered procedures. Many employees made the choice to leave. Others were asked to leave. While it is evident that Bennett initially had a shortcoming in bringing the company together, he was able to write job descriptions and performance objectives for all his direct reports. Nonetheless, the corporate structure of Intuit was weak upon his arrival.

Bennett believed in shared vision and collaborative functioning, a concept utilized successfully by other executives and praised in the business. In response to the article All the Wrong Moves, for example, critic Christopher McCormick, praises an executive for “asking the right questions of the experts in his organization…that would lead to more cross-functional collaboration. As a result of collaboration and analysis, Bennett was able determine key players in the organization and was also able to bring in new personnel, reshape the budget and set a new pattern for the future.

Critics have argued that Bennett came in too fast and upturned the applecart too swiftly. Perhaps his changes were too liberal for an otherwise conservative operation. Or, as Hauke Moje stated in his All the Wrong Moves critique, it is necessary to “install firm management rules and build trust within the company. ” However, there is no doubt that, as a result of the restructure, the company’s performance has indeed increased and numbers multiplied. Those who survived the initial turnover wave and stayed with the company were rewarded for their patience and assistance.

It is necessary to state that Steve Bennett had the expertise to make real changes as well as expectations of success. While this forced some into insecurity about their jobs, Bennett was persistent. He was, as a result, successful in under-layering and transforming Intuit into a collaborative company. He didn’t surrender, even when the road looked bleak. References: Steve Bennett, CEO Intuit – webpage Harvard Business School…. Intuit, Inc. Transforming an Entrepreneurial Company into a Collaborative Organization Garvin, David (2006). All the Wrong Moves. Harvard Business Journal.

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Steve Bennett joined a company called Intuit. (2016, Jul 30). Retrieved August 20, 2019, from https://phdessay.com/steve-bennett-joined-a-company-called-intuit/.