In his first employee town hall meeting after returning as Disney’s CEO, Bob Iger didn’t waste time announcing his top priority. Iger said he will focus on achieving profitability for Disney’s streaming business.
“Instead of chasing subscribers with aggressive marketing and spending on content, we have to start chasing profitability,” Iger said.
Iger, who served as Disney’s previous CEO for 15 years, made a surprise move by replacing Bob Chapek less than three years after Chapek had been handed the role.
Although Iger is still working on a detailed plan for Disney’s future, his comments in Monday’s 45-minute town hall meeting reflected his strength as a communicator.
Iger strives to articulate strategies simply and clearly. It’s a habit all leaders should emulate, says Iger in his leadership class on MasterClass. And simple communication means focus—focus on a few priorities and articulating those priorities constantly and consistently.
In the MasterClass, Iger illustrates his point by explaining how he convinced the board to name him Disney’s new CEO in 2005. As Iger prepared for a long, intensive interview process, he turned to a friend for advice. The friend, a successful marketing expert, reminded Iger that he should only articulate a few strategies—not ten strategies, but three. Focus is key.
Iger told the board members that his main priority would be to invest in creativity. Iger hasn’t changed in that regard. In a recent memo to employees, Iger wrote that any organizational changes he makes will “honor and respect creativity as the heart and soul of who we are.”
According to Iger, people in any organization need to have a sense of what the leader’s priorities are. “When you lead people, you need to be very clear of what you expect of them,” he says. The vision, he says, must be articulated clearly and must touch as many people as possible throughout the entire organization.
When Iger’s friend told him that an organization should only have three big priorities, it proved to be winning advice—for Iger’s job interview and for Iger’s successful tenure as CEO.
As a successful leader, Iger knows that that articulating too many priorities only muddles the message for customers, employees, investors, partners, and board members. Although Iger has just returned, he’s already attempting to crystalize his vision for Disney’s next chapter.
According to reports from the town hall meeting, Iger made it very clear that he intends to:
- Maintain the hiring freeze that Chapek initiated in November.
- Introduce a new organizational structure that puts decision-making back in the hands of Disney’s creative teams.
- Focus on making the streaming business profitable.
According to Iger, narrowing priorities to three or four goals is half the battle. The other half is selling your vision through all levels of the organization. So we should expect more clarification from Iger in the coming weeks, along with more town halls, televised interviews, and stakeholder meetings.
Communication skills are essential for leadership. And effective communication means crafting a vision, articulating it clearly, and expressing that vision over and over until everyone acts as one motivated team.
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December 01, 2022 at 04:30PM
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Bob Iger’s Rules For Communicating Disney Strategy Simply And Clearly - Forbes
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