A time to micromanage. (Strategies of the Fittest).Advertising agencies fell victim to the tech boom by allowing the euphoria of a client surplus to overshadow o·ver·shad·ow tr.v. o·ver·shad·owed, o·ver·shad·ow·ing, o·ver·shad·ows 1. To cast a shadow over; darken or obscure. 2. To make insignificant by comparison; dominate. prudent client vetting, says Mark DiMassimo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DiMassimo Brand Advertising in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Now, spurred by the worst ad spend decline since the Great Depression--according to a recent report from Merrill Lynch & Co.--ad agencies are returning to basics. DiMassimo advocates micromanagement This is about the management style. For the computer game strategy, see Micromanagement (computer gaming). In business management, micromanagement is a management style where a manager closely observes or controls the work of their employees, generally used as a pejorative term. . He says CEOs need to play up their "presidential" roles in tough times. "The personal commitment of the chief means a lot in this competition for dwindling resources and business," he contends. What his and other agencies did during the late '90s was to sit back and let new clients come to them, rather than go after those whom the agency could best serve. They lost focus and became chronic delegators of client recruitment. "When you're managing vast growth, delegation looks like the Holy Grail," says DiMassimo. "You develop a fetish fetish (fĕt`ĭsh), inanimate object believed to possess some magical power. The fetish may be a natural thing, such as a stone, a feather, a shell, or the claw of an animal, or it may be artificial, such as carvings in wood. for empowering others. The quick adjustment that CEOs need to make [now] is to recognize the power of whatever got them into that position. "Back when Jack [Welch] became CEO of that huge organization, [business] was all about hands-off management. That was the environment he entered. But the truth about executive management is never that simple," says DiMassimo. |
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