I would predict that Honeywell would be successful in
the future. CEO of Honeywell, Michael Bonsignore, clearly stated that Honeywell
would not be an extension of the old Honeywell or Allied Signal. He has
creating a new culture that blends the best of the merged companies of
Honeywell and Allied Signal that promotes a team concept with acknowledgement
for accomplishments and failures. He has a focus of adopting the best of both
companies and has motivated his employees to determine the ways in which to
bring those aspects together. Essentially blending the best of both companies
such that only the most efficient and effective practices remain.
The
barriers that the Honeywell organization had faced was that it had missed
earnings and cash flow estimates while having to manage a lot of moving parts.
Wall street analysts were overbearing and demanded answers, as Honeywell was 3%
below their estimates. This cast a dark shadow on the organization especially within
the first year off its merger. Michael Bonsignore stated that the over estimate
was shadowed by the “enormous task of the merger” and the company was still
restructuring.”
The
critical success factors should Honeywell consider as it crafts its
organizational strategies around a new culture are principally tailored to its
employees and the interpersonal relationships. Michael Bonsignore illustrated
the organization needs to project a “simple vision up front with clearly
established goals…rewards for individuals who can surpass those goals.”
Bonsignore outlined that Honeywell will compensate and reward people that look
for best practices from both companies in creating a new corporate culture and
punish those who do not.
The
principle aspect I am able to take away from this exercise to immediately use
in my career is that leadership must exuberate trust and loyalty amongst their
workers. Two elements expressed from Michael Bonsignore were that “employees
willing to deal with hardship as long as they know there is a light at the end
of the tunnel.” This is characteristic and determined from the second point he
made which is that communication is critical. He further illustrates communications
to be in a very clear medium to employees as he stated “Communication, candied
straight up, unvarnished truth about the company” is necessary.”
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