The George Steinbrenner Philosophy of Business
Aug 03, 2010Posted by james
During the last couple of months, the sports world lost two icons.
John Wooden left us a couple of months ago, and, in my previous post, you can read my thoughts about this fabulous gentleman and the impact he had on life rather than just on sports.
Recently, we lost New York Yankees owner George M. Steinbrenner III. At times, many times, he was bombastic, hotheaded and fired people faster than a 100 mph fastball. But, we need to take a look at “The Boss” and his business talents from another perspective.
Steinbrenner was one of the most successful business leaders of the last 30 years. He demanded the world from his employees, but he never gave less than the universe back to them and his customers. His commitment to success allowed him to raise a once proud organization from the rubble of CBS ownership and turn a $10 million investment into the most famous and possibly the most valued sports franchise in the world. With the creation of the YES Network and related businesses, the New York Yankees now are valued at more than $1 billion.
During his years of ownership, Steinbrenner cleverly mixed and re-mixed the various ingredients for business success to create one of the most powerful family-owned businesses in the world. He surrounded himself with the best talent from star players to secretaries. He stressed winning and championships, and he only wanted to hear about recent wins and championships, or plans for future ones, at the annual corporate review. He constantly reinvested in the Yankees product, determined always to give advertisers and fans, his key customers, the best team and ballpark experience that money and talent could deliver.
Steinbrenner did this in a very vocal and visible way. With little fanfare, though, he realized that the New York Yankees, as with any successful business, had a major league responsibility to share its achievements with people who required a helping hand. Since his passing, a number of previously unknown stories have emerged about Steinbrenner’s ongoing quiet support for people affected with medical or other personal issues. The Yankees Foundation also continued to grow under his ownership, providing assistance to sick children, to support public education and to bring inner city youth to ballgames.
At Whitmore Group, for more than 20 years we have followed a business and social responsibility road that is similar to the one blazed by George Steinbrenner.
Each year, we continue to place the best possible team on the field. We always reinvest in our business operations and training, and we strive to satisfy every need of our customers. We also provide considerable support to our community, including the student athletes at Hofstra University and to help the young people in the programs administered by Big Brothers Big Sisters of Long Island.
Just like George, our goal is to win every day.