As the founder and former CEO of Yum! Brands, one of the world’s largest restaurant companies with a portfolio that includes franchises such as KFC and Pizza Hut, David Novak has shown tangible results.
In his 17 years as CEO, from 1999 to 2016, Novak helped grow the company to eight times its original size, from a market capitalization of $4 billion to $32 billion. However, Novak puts the numbers in a leadership position that is more qualitative than quantitative – creating the right work culture.
In an interview with Masters of Scale host Jeff Berman that aired earlier this month, Novak explained how he directed the Yum! Brands from the beginning.
“I made the first priority for me to create a strong culture where everyone counts,” Novak said. “That was my first job as CEO, because if I can create the right work environment, people will innovate and people will move forward.”
Novak explained that initially, he tried to learn from companies that were winning or consistently delivering good results. He went out and visited companies including Walmart, Home Depot, and General Electric.
“We met them,” Novak said. “Then we went back and put together what really makes these companies successful that allows them to achieve great results year after year.”
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Novak, who oversees 1.5 million employees worldwide, began emphasizing recognition and coding in the culture of Yum! In previous interviews, he talked about how he would use recognition to motivate employees. In another incident, at KFC, Novak offered rubber chickens and $100 as a reward for a job well done.
Today, the tradition of Yum! it is always about recognition and cooperation, according to the cultural page towards the community.
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