A "customers first" mentality, teamwork and a constant eye for improvement are critical to a successful business, Dan Cathy, chief operating officer of Chick-Fil-A, said in a talk at Melcher Hall on Monday.
Cathy’s address kicked off the Bauer College of Business’s annual Leadership and Ethics Week – a week of activities and discussions that highlight the importance of a sound foundation in the business world.
"Anyone can meet the customers’ needs," Cathy said. "The challenge that we face is how we can anticipate where our customers’ needs are headed for the future."
Cathy has served as COO of the Atlanta-based, 1,330 unit restaurant chain since 2001, taking control of the family business that was founded by his father Samuel Truett Cathy in 1967. Since then, Cathy said, he has remained committed to excellent customer service and to being a positive influence on those who come in contact with his business – from customers to business partners.
"We live in a much more transparent society today than we did 50 years ago – whether it’s the Internet, cameras, the media – the sometimes foolish choices that business leaders make get a lot more exposure," he said.
Cathy said that spending time traveling and visiting individual restaurants in his business has given him a better perspective on what drives customers. Cathy recounted spending several nights camping in Chick-Fil-A parking lots with customers who had hoped to get in on a new franchise’s free food promotions. He said that spending time with them helped him understand the business better than any marketing department could.
"You’ll get more information from a sleeping bag in a concrete parking lot than investing thousands of dollars in a consulting firm," he said. "We’re here to interface; we want to be able to rub elbows with our customers and get in touch with them."
Working toward continuous improvement is also critical to maintaining an ethically sound business, he said.
"Anticipation is a real factor. If you’re just meeting your customers’ needs, then you’re no better than your competition. You have to be very insightful to pick up on that," Cathy said.
Cathy said he considers himself truly blessed with the success of Chick-Fil-A and that students should act as the "stewards" of whatever challenges they undertake in the business world.
"I consider myself a student," he said. "I feel that if I’m not looking at my competitors and being a mentor for those I work with, then I’m not a very good steward of what God has entrusted to me. The choice is ours."
Leadership and Ethics week continues today with the PricewaterhouseCoopers xTax, or extreme tax, competition. From 8 a.m. to 5 p.m., eight teams of five business students will compete to find solutions to tax-related problems.
"The competition models real-world decision making issues," Brett Hobby, assistant director of employer services and recruitment at Bauer college, said. "It gives students the experience that people in business and government deal with on a daily basis."
Hobby said that the teams would be dealing with such scenarios as determining a hypothetical country’s tax rate. A panel of executives from PricewaterhouseCoopers will determine the winner, who will receive a $1000 cash prize and the opportunity to compete in the national xTax competition in November in Washington D.C.
Wednesday’s planned events were canceled because the speakers could not travel to Houston in time, Bauer College representatives said.
The week’s activities will conclude Friday with an awards presentation and banquet from noon to 2 p.m. in the Conrad Hilton Ballroom. Dynegy chairman and CEO Bruce Williamson will present the winners of the xTax competition with the award, and Sherry Williams, vice president and corporate secretary of Halliburton, will deliver the keynote address.
