On Principle  By  cover art

On Principle

By: Olin Business School at Washington University in St. Louis
  • Summary

  • On Principle, a production of Olin Business School at Washington University in St. Louis, tells the stories of pivotal business decisions. What led to them? What were the choices? And what lessons can executives, entrepreneurs and other leaders draw from them?
    2021 Washington University in St. Louis
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Episodes
  • Nothing but Volatility: Lauren Kriegler
    Apr 9 2024

    On a mid-May afternoon in 2020, Lauren Kriegler sat in her home office and scribbled a warning to her young kids—who were in the thick of remote learning—on a Post-It Note and stuck it to her office door: “Important call. Do not come in!”

    For five years at Alaska Airlines, Kriegler had led a massive project to overhaul the uniforms provided to its 20,000+ frontline employees—five years building a program from raw materials to design and development, inventory planning and distribution, and ultimately the culmination of a rollout during the early stages of the pandemic.

    This included multiple visits to China to get closer to the supply chain, as well as the integration of industry-leading textile safety standards, leading Alaska to be the first North American carrier to integrate Oeko-Tex into a custom supply chain. Along the way, Kriegler led additional teams, including retail operations, freight and logistics, and print programs. As the uniform program launched and was moving to steady state, she was starting to think about her next challenge.

    Now, as the Teams window on her computer flashed open to her weekly tie-in with her boss, she was confronting what might come next: leading the fuel program for the airline as director of fuel—an area of the business where she had no experience. It was a role fraught with challenge and opportunity that started with the consolidation of two departments, the lack of a hand-off from her predecessors in the role and a massive learning curve.

    Once she assumed the role that July of 2020, she would see planes get fueled for the first time, spend time on the ramp learning the operation and become quickly immersed in the complexities of the oil and refining markets and supply chains. She openly acknowledged with internal and external partners that at many times she had more questions than answers.

    She worked diligently to overcome her learning curve in order to prepare the fuel program to support the airline’s emergence from the pandemic, both operationally and financially. Through all of these learnings, she also started to wrap her arms around an initially small but critical component of the fuel program: Sustainable Aviation Fuel (SAF)—something that as the months went by would become a much more significant focus of her day-to-day role.

    By the end of her first year and what Kriegler called a “brutal summer,” she had confronted all that and more, including a Mother’s Day 2021 alert to the Colonial Pipeline shutdown, wildfires, labor shortages, extreme weather and other external events that buffeted fuel supply chain operations.

    “I’ve only known volatility,” Kriegler said. “During that first summer, I remember thinking (that) how I navigated that summer’s seemingly never-ending challenges would shape my future at Alaska as an operational leader. I was determined not just to get through it, but to establish an industry-leading program that was resilient and intentional. And to be honest, I had many moments of self-doubt given my lack of experience—and I know others did as well.”

    Related Links

    • Lauren shares supply chain learnings with students at the University of Washington.
    • Alaska Airlines’ news release on the launch of its uniform redesign
    • More about WashU Olin’s Sergio Chayet
    • Lauren’s LinkedIn page

    Credits

    This podcast is a production of Olin Business School at Washington University in St. Louis. Contributors include:

    • Katie Wools, Cathy Myrick, Judy Milanovits and Lesley Liesman, creative assistance
    • Jill Young Miller, fact-checking and creative assistance
    • Austin Alred and Olin’s Center for Digital Education, sound engineering
    • Hayden Molinarolo, original music and sound design
    • Mike Martin Media, editing
    • Sophia Passantino, social media
    • Lexie O'Brien and Erik Buschardt, website support
    Show more Show less
    36 mins
  • Clash of the Megatrends: Chris Hoffmann
    Mar 12 2024

    In the heating-and-cooling industry, they’re calling it “The Great Consolidation” as the pace of company acquisitions has risen from about 20 in 2011 to 120 a year by 2019. Meanwhile, The Great Consolidation is slamming head-first into the pandemic-born Great Resignation, as firms battle for a share of the scarce pool of talent on the market.

    That’s the environment Chris Hoffmann has faced since 2016, after taking over the St. Louis-based, family-owned business his father began 28 years earlier with four employees and a simple business model. Today, while he watches competitors grow through acquisition and consolidation, Hoffmann sees an alternative path: scaling up geographically and serving existing customers more deeply.

    That’s why he’s expanded into Nashville. That’s why he’s exploring adding pest control to his suite of commercial and residential services. But there’s still that other nagging problem. "The companies that are going to be able to grow are the ones that can solve the talent issue,” Hoffmann said on a recent industry podcast. “Everyone knows that. Everyone's talking about that."

    In this episode of On Principle, we talk to Chris Hoffmann about how he came to realize Hoffmann Brothers would have to make some big investments to thrive in a heavily fragmented but consolidating industry. What drove his decision to grow by expanding his service area and his services? Why did he decide against buying his way into new markets by acquiring existing residential and commercial services firms?

    And what does it take to move from simply recruiting talent on the open market to growing your own in a newly built, 15,000-square-foot training facility?

    Related Links

    • The Hoffmann Brothers website
    • The family office site Chris and his family created to manage investments
    • More about Peter Boumgarden
    • The Koch Family Center for Family Enterprise
    • A piece Chris Hoffmann wrote for the Tugboat Institute on employee engagement
    • The St. Louis Business Journal reports on Hoffmann Brothers’ expansion
    • The Olin Brookings Commission project referenced in this episode

    Credits

    This podcast is a production of Olin Business School at Washington University in St. Louis. Contributors include:

    • Katie Wools, Cathy Myrick, Judy Milanovits and Lesley Liesman, creative assistance
    • Jill Young Miller, fact-checking and creative assistance
    • Austin Alred and Olin’s Center for Digital Education, sound engineering
    • Hayden Molinarolo, original music and sound design
    • Mike Martin Media, editing
    • Sophia Passantino, social media
    • Lexie O'Brien and Erik Buschardt, website support
    Show more Show less
    40 mins
  • An Unforced Error: Brian Williams
    Feb 13 2024

    Since 1999, the digital agency that Brian Williams and his brother cofounded has weathered—often just barely—some tough blows to the economy. There was the bursting of the dot-com bubble. Then there was 9/11. Then, the global financial crisis of 2008.

    In fact, that last shock compelled Williams to create a formal business development function at Viget—a team that would market the firm, demonstrate its expertise, drive in-bound business leads and keep the phones ringing. Viget hummed into its 15-year anniversary in 2015 with an energizing employee retreat near Boulder, Colorado, where the firm opened a new branch office.

    But when the year drew to a close with dismal results, Williams was worried. Yes, Viget had built a business development function. But it hadn’t created a way to forecast and project revenue, anticipate when existing projects would end, maintain a pipeline of “back-up” projects for slow times and rigorously manage existing projects.

    There was no external economic shock, yet business had collapsed. “This was a crisis of our own making,” Williams said. “My mistakes led to us being in this precarious position.”

    With potential layoffs looming ahead, Williams issued an off-the-cuff rallying cry that came to be known as “Best 6 Ever”—an audacious goal to exceed Viget’s previous best six-month period. And the team rallied. Extra hours. Aggressive marketing. Sharing the #Best6Ever hashtag internally. Meanwhile, Williams and his team worked to create version 2.0 of Viget’s business development team—complete with all the accountability measures that hadn’t existed before.

    Today, Viget’s biz dev function is more sophisticated. The business is more profitable. The firm’s leadership is better equipped to accurately forecast revenue trends. And Williams sleeps better at night.

    Related Links

    • Viget’s website
    • Brian Williams’ bio page on the Viget website
    • More about Jackson Nickerson from the WashU Olin website
    • Jackson’s Wikipedia page

    Credits

    This podcast is a production of Olin Business School at Washington University in St. Louis. Contributors include:

    • Katie Wools, Cathy Myrick, Judy Milanovits and Lesley Liesman, creative assistance
    • Jill Young Miller, fact-checking and creative assistance
    • Austin Alred and Olin’s Center for Digital Education, sound engineering
    • Hayden Molinarolo, original music and sound design
    • Mike Martin Media, editing
    • Sophia Passantino, social media
    • Lexie O'Brien and Erik Buschardt, website support
    • Paula Crews, creative vision and strategic support
    Show more Show less
    36 mins

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