Every business person has read countless books and articles telling them how to run their business.  Many of these books and articles all say the same or similar things.  But every once in a while you read a story in the newspaper about a CEO that does the right things, says the right things and sets the example of how to run a business.  On Monday, June 16^th, 2009, USA Today ran a story about Andrea Jung, the CEO of Avon Products, one of the largest cosmetic companies in the world and the most-tenured female CEO in the Fortune 500.  This is a person who knows how to run her company and fires herself every Friday only to come into the office on Monday as if she were the new CEO of the company hired to be the turn-around leader.

This is one of the best articles I have read in a long time about how CEOs should run and think about their companies.  Andrea, I share your business philosophies.  With that in mind, here are some other highlights taken directly from the article in the USA Today.

Key tips from Andrea Jung:

-  In difficult times, communication is key to maintaining employee morale.  Communicate the purpose of the vision and the reason for tough decisions.  Yes, it’s about morale but it’s also about trust and respect.

-  Leaders must reinvent themselves regularly.  Reinvent yourself first before you reinvent the company. See with fresh eyes.

-  Conserve cash when it does not hurt market share or the consumer. Reinvest in ways that grow market share.

-  Prepare for a fundamental shift in consumer spending and an economy that may not grow for years.  Leaders on the offense, not the defense, will come through this recessionary period.

-  Talent is the No. 1 priority for a CEO.  You may think it’s about vision and strategy but you have to get the right people first.  These times are here to stay for a while so you better have the best talent.  These times require even better capabilities than were required awhile ago.

This is an interesting and worthwhile article to read in its entirety.

Here’s the direct link:

http://www.usatoday.com/money/companies/management/advice/2009-06-14-andrea-jung-avon_N.htm