David Novak, chairman and CEO of Yum! Brands, Inc., will address IFA’s Annual Convention on Feb. 13 about his brands’ growth overseas. Yum! Brands includes more than 36,000 KFC, Pizza Hut and Taco Bell restaurants in more than 117 countries and territories and 1.4 million company and franchise associates. Here are a few excerpts from his upcoming interview in April’s Franchising World magazine.
On recent achievements
“We’re very excited about 2012. We expect to continue to grow our presence around the world. Our goal is to achieve at least 10 percent earnings per share growth every year. We’ve done at least 13 percent for at least the last 10 years. The main goal that we have this year is to make 2012 the year for Taking People With You for operational excellence. I’ve written a book [Taking People With You: The Only Way to Make BIG Things Happen] and the exciting thing we’re doing in our company is we’re taking the book and we’ve created training guides that will go to all our franchisees and all of our restaurant managers around the world and it will be translated into 11 different languages.”
More than a book on leadership principles
“Well, I think a lot of books deal with general leadership principles and this book is more than a book on principles. It’s a book on how to actually make it happen. it’s a book on the core process of leadership and execution. Because no one can get anything done by themselves of any significance.”
Taking people with you
“Our formula for success is you build the people capability first, then if you have really capable people and outstanding leadership, you will satisfy more customers and then you make more money. And yes, of course, everyone wants to make more money, but you have to realize how you get there and the real formula for success in our business, and I would argue in any business, is that you’ve got to make people capability your No. 1 priority.”
“I think my definition of leadership stems from the fact that leadership is a privilege. The job of the leader is to bring out the potential of every person that works on the team. That’s why I think teaching is the most important thing I do because it’s the best investment I’ll make in the organizational capability of the organization.”
All of the proceeds from Mr. Novak’s book will be donated to the United Nations World Food Programme in conjunction with Yum!’s global hunger relief efforts.
Posted by Laura Fenwick, IFA Publishing Manager