Bloomberg

2335 Words Feb 23rd, 2015 10 Pages
Webster University

Michael A. Kirby

MNGT 5000 OB S1 2014 Management

Spring I Term Paper

Date

February 27, 2014

Introduction:
Bloomberg L.P. is a privately-held financial software, media, and data company. Bloomberg L.P. comprises approximately one third of the $16 billion global financial data market with estimated revenues of $6.9 billion (Shetty, n.p.). Bloomberg L.P. was founded by Michael Bloomberg with the assistance of Thomas Secunda, Duncan MacMillan, and Charles Zegar--with a 30% ownership stake put off by Merrill Lynch--in 1981 (Shetty,n.p.). The company provides financial software tools, such as analytics and an equity trading
…show more content…
During the interview, Bloomberg explains how he treats his employees when they submit their resignation. Bloomberg says that he would acknowledge the resignation, but he would not shake their hand or wish them luck on their future endeavors, but just respond with “OK”. (Hopkins, 3). Bloomberg claims that employees at his organization are not allowed to throw goodbye parties, and once the employee leaves the organization, Bloomberg says that they are never rehired in the future, regardless of the reason for leaving the organization (Hopkins, 4). When it comes to the managers in his organization, Bloomberg makes it known that each manager should know who their replacement is just in case some catastrophe occurs (Hopkins, 5). With the extreme tactics that Michael Bloomberg uses in his organization, he was able to have a successful business by keeping loyal employees, and extreme loyalty to the firm is what he emphasizes in the organization.
In “Extreme Managing,” Marc Ballon discusses the management techniques that Jack Hartnett uses at his organization--Sonic Drive-Ins. Hartnett’s management techniques—which might be classified under consensus-building models with emphasis on building loyalty through caring while he involves himself in every minute detail of his business--include involvement with employees both at the workplace and in their personal lives. Hartnett wants to know what is going on with his employees in their personal life to