Revitalizing a Mid‐sized Company through Executive Education

Abstract

In 1989, Reynolds and Reynolds ($600 million; Dayton, Ohio; business forms and computer software company) launched an executive education programme which has achieved excellent results. Being a family controlled organization for a number of years, the new CEO saw the need to clarify the strategic direction of the business, refocus and reorganize the management team and unleash his executive talent. Through a series of internal education sessions, Reynolds and Reynolds′ strategic plan was examined, marketing approaches changed, leadership expectations defined, succession plans enacted, and the financial aspects of the business emphasized to all employees. It is claimed that almost every Reynolds and Reynolds employee has felt the changes in his/her job. The financial markets have seen the change as well. In October 1989, Reynolds and Reynolds was selling for approximately $11 per share (PE Ratio: 8); the March 1993 quote is over $60 (PE Ratio: 18).

Citation

Bowen, W.J. (1993), "Revitalizing a Mid‐sized Company through Executive Education", Executive Development, Vol. 6 No. 5. https://doi.org/10.1108/09533239310045580