Leadership Styles

Martha Stewart
By Group-7

Flow of Presentation

Introduction
i. Early Life ii. Career iii. Living Omnimedia

Leadership
i. Authoritarian ii. Servant iii. Charismatic

Characteristics Current Projects Conclusions

Introduction
Early life:

Martha Stewart was born on August 3,1941 in New Jersey . At 13, featured in a television commercial for Unilever. Graduated from Nutley High School, married in 1961 with Andrew Stewart.

Loved cooking, sewing and gardening

Career:

In 1976, Stewart started a catering business in her basement with a friend. She was also hired as the manager of a gourmet food store, the Market Basket, but after a disagreement, she was forced out and opened her own store. Stewarts first book, Entertaining came on December 13, 1982. In 1990, she started Martha Stewart Living magazine.

Martha Stewart Living Omnimedia

Purchased the various television, print, and merchandising ventures related to the Martha Stewart brand, and consolidated them into a new company, named Martha Stewart Living Omnimedia.

Stewart felt she could promote synergy and have greater control of the brand's direction through the business's activities. Made her the first female, self-made billionaire in the US

Leadership:

Authoritarian Leadership
Used strong directive controlling actions to enforce her agenda

Emphasized efficient production

Personal attention.

Meticulous and demanding

Servant Leadership:
Martha Stewart was not exactly a servant leader but she did have a few qualities of a servant leader i.e. Empathy: recognized wants and needs of her customers
Conceptualization: integrated present realities and future possibilities.

Martha Stewart used a three step process to maintain and establish herself as a charismatic leader: Optimism Passion

Communication skills

Characteristics:

Be a life-long learner. Seek inspiration everywhere. Keep going. Practice solid values Established connected relationships.

ImClone Stock Trading case

In 2001, Stewart avoided a loss of $45,673 by selling all 3,928 shares of her ImClone Systems . The day following her sale, the stock value fell 16%. Stewart was indicted by the government on nine counts, including charges of securities fraud and obstruction of justice. Stewart voluntarily stepped down as CEO and Chairwoman of MSLO, but stayed on as chief creative officer.

Sentence
She was found guilty in March 2004. She was sentenced in July 2004 to serve a five-month term in a federal correctional facility and a two-year period of supervised release . Stewart also paid a fine of $30,000. In August 2006, the SEC announced that it had agreed to settle the related civil case against Stewart. She also agreed to a five-year ban from serving as a director, CEO, CFO, or any other officer role responsible for preparing, auditing, or disclosing financial results of any public company.

Current Projects

After her release, she returned to daytime television

with The Martha Stewart Show.

Released a new book -The Martha Rules Regular contributor of cooking, gardening, and crafts segments on NBC's Today show. Martha Stewart Living had made a profit first time in the previous eight years. She played a private school headmaster in NBCs legal drama Law and Order

Recommendation

Martha should seek commercial opportunities abroad and expand her business into previously unexplored international markets. Martha Brand should form alliances with European retailers like Dunne Stores or IKEA. Whatever direction Martha Stewart decides to take her business interests, her drive leaves nobody in doubt that she will meet the challenges of tomorrow with renewed self-confidence and determination.

List of Refernces

Stewart, M. (2005) The Martha Rules: 10 essentials for achieving success as you start, build or manage a business. New York: Rodale Byron, C. (2002) Martha Inc., the incredible story of Martha Stewart Living Omnimedia. New York: Wiley & Sons. ORourke, J. (2004) Martha Stewart Living Omnimedia Inc: The Fall of an American Icon. Public Relations review. 30(4), pp. 447-457. [Online] EBSCOhost. Kelley, R. (2010) Remaking Martha. Newsweek. 156 (15), pp. 52-52. [Online] EBSCOhost. Sloan, C. (2005) Marthas Daughter Takes Majority Stake. Home Textiles Today. 26 (21), pp. 12-12. [Online] EBSCOhost. Gibbons, K and M Reynolds (2008) Fine Living Found Martha! Can It Keep Her Happy? Multichannel News. 29 (36), pp. 6-6. [Online] EBSCOhost. Gonser, S (2002) The Perils Of Namesake Branding. Folio: The Magazine for Magazine Management. 31 (11), pp. 48. [Online] EBSCOhost. Kelly, K (1997). On Her Own, Martha Stewart Eyes IPO. Advertising Age. 68 (6), pp1-48. [Online] EBSCOhost