Ratan Tata (center) holds the Columbia Business School’s Deming Cup. Looking on are (l-r): Macy’s CEO Tom Cole, Alcoa CEO Klaus Kleinfeld, former Secretary of the U.S. Treasury Paul O'Neill, Chrysler Group chairman and CEO Sergio Marchionne and Rob Amen, executive-in residence at Columbia Business School.
Columbia Business School’s W. Edwards Deming Center for Quality, Productivity, and Competitiveness has named Ratan N. Tata, chairman of India’s Tata Sons Ltd., one of two honorees of this year’s third annual Deming Cup. Tata and co-winner Terry J. Lundgren, chairman and CEO of Macy’s, received their awards at Columbia University Oct. 23. The honor recognizes “achievements of practitioners who adhere to and promote excellence in operations — the Deming Center’s area of focus.” Introduced by former U.S. Secretary of State Henry Kissinger, Tata was lauded for his “instrumental role in transforming a family business from an Indian conglomerate into a global organization.”
Macy's CEO Lundgren wins Columbia Business School award
Business Courier Date: Wednesday, October 24, 2012, 1:53pm EDT
Terry Lundgren, CEO of Macy's, was named one of this year's winners of the Deming Cup, awarded by Columbia University's business school.
Macy’s Inc. CEO Terry Lundgren has been named one of this year’s winners of the Deming Cup awarded by Columbia Business School’s W. Edwards Deming Center for Quality, Productivity and Competitiveness.
Lundgren received the award at a dinner at Columbia University on Oct. 23.
The award is given annually to “an individual who has made outstanding contributions in the area of operations and has established a culture of continuous improvement within their respective organization,” according to a release from the school.
The other winner this year was Ratan Tata, chairman of Tata Sons Ltd., which is the promoter of all key Tata Group companies. This marks the third year for the award.
Lundgren was recognized “for effectively navigating Macy’s, Inc. through periods of profound change. This included nearly doubling the size of the retailer through acquisitions and implementing a fundamental reorganization of its operating structure,” the release said.
Meyer Feldberg, professor and dean emeritus of Columbia Business School and senior advisor of Morgan Stanley, who sits on Macy’s (NYSE: M) board as an independent director, said Lundgren has instilled a culture of growth at Macy’s and has led the company to a level of consistent growth that places it among the best performers among nationwide retailers, according to the release.
“Mr. Lundgren is a role model for his company and the industry, serving as a true leader in continuous improvement and operational excellence – the Deming Center’s area of focus,” Feldberg said in the release. “Under his leadership and focus on the customer and dedication to innovation, talent development, and operational excellence, Macy’s has grown profitably in the intensely competitive retail industry, even as the industry faced significant challenges following the recent economic downturn.”
Cincinnati-based Macy’s had fiscal 2011 sales of $26.4 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s, in addition to the macys.com and bloomingdales.com web sites. The company also operates 11 Bloomingdale’s Outlet stores.
The W. Edwards Deming Center for Quality, Productivity, and Competitiveness Awards the Deming Cup to Terry J. Lundgren, Chairman, President, and CEO of Macy's, Inc., and Ratan N. Tata, Chairman of Tata Sons Limited
Annual award recognizes contributions to the field of operations made by leaders in various industries
|By PR Newswire|
|October 24, 2012 09:32 AM EDT|
(Logo: http://photos.prnewswire.com/prnh/20120905/NY68578LOGO )
This year the Deming Center awarded the Cup to two recipients – Terry J. Lundgren, Chairman, President, and CEO of Macy's, Inc., and Ratan N. Tata, Chairman of Tata Sons Limited. Mr. Lundgren was recognized for effectively navigating Macy's, Inc. through periods of profound change. This included nearly doubling the size of the retailer through acquisitions and implementing a fundamental reorganization of its operating structure. Mr. Tata was honored for his instrumental role in transforming a family business from an Indian conglomerate into a global organization.
Meyer Feldberg, Professor and Dean Emeritus of Columbia Business School and Senior Advisor of Morgan Stanley, who sits on Macy's board as an Independent Director, explained how Terry Lundgren has instilled a culture of growth at Macy's and has led the company to a level of consistent growth that places it among the very best performers among nationwide retails. Kevin Burke, Chairman, President, and CEO of Consolidated Edison Inc., also discussed how Mr. Lundgren has taken a leadership role in the community through service to charitable, business and industry organizations such as the National Retail Federation and the Partnership for New York City. Both Professor Feldberg and Mr. Burke introduced Terry Lundgren. "Mr. Lundgren is a role model for his company and the industry, serving as a true leader in continuous improvement and operational excellence – the Deming Center's area of focus," said Meyer Feldberg. "Under his leadership and focus on the customer and dedication to innovation, talent development, and operational excellence, Macy's has grown profitably in the intensely competitive retail industry, even as the industry faced significant challenges following the recent economic downturn."
Henry Kissinger, former Secretary of State of the United States, who introduced Ratan Tata alongside Klaus Kleinfeld, Chairman and CEO, Alcoa Inc., pointed out that Mr. Tata has successfully guided multiple companies, including Tata Motors and Alcoa, to business excellence in both India and globally by leveraging the principles of W. Edwards Deming. "Ratan is a rare kind of leader – just as he is deeply committed to performance and operational excellence, he lives the important values of integrity, respect, and continuous learning. All of these qualities are rooted in everything Ratan does. This unique combination of attributes is precisely what is needed in today's global business climate," added Klaus Kleinfeld.
Nelson M. Fraiman, Director, W. Edwards Deming Center, and Professor of Professional Practice at Columbia Business School commented on the importance of the award, "The Deming Center encourages operational excellence in organizations through the development of research, strategic planning and new insights. This year's recipients demonstrate how a commitment to operational excellence can foster growth and elevate organizations to the highest levels of industry leadership."
The Deming Cup's judging committee was led by co-chairs Robert M. Amen, Executive in Residence at Columbia Business School, and Paul H. O'Neill, Former Secretary of the U.S. Treasury. The committee received nominations through a variety of channels – including ads in the Financial Times, solicitations to the CEOs of the top 300 companies in the United States, Europe, Latin America, and Asia. Requests were also directed to business and engineering school faculty around the world, and to Columbia Business School's alumni and Board of Overseers Committee. Nominations were received from April 1 through June 22, 2012.
About the W. Edwards Deming Center for Quality, Productivity, and CompetitivenessThe W. Edwards Deming Center for Quality, Productivity, and Competitiveness was founded in 1990 during W. Edwards Deming's last year at Columbia. The center promotes operational excellence in business through the development of research, best practices, and strategic planning. The Deming Center sponsors applied research; disseminates best practices; supports focused education and professional development; reaches senior executives through forums, executive education, and publications; and fosters partnerships with companies in the area of operational excellence. For more information, visit www.gsb.columbia.edu/deming.
About Columbia Business School Led by Dean R. Glenn Hubbard, the Russell L. Carson Professor of Finance and Economics, Columbia Business School is at the forefront of management education for a rapidly changing world. The School's cutting-edge curriculum bridges academic theory and practice, equipping students with an entrepreneurial mindset to recognize and capture opportunity in a competitive business environment. Beyond academic rigor and teaching excellence, the School offers programs that are designed to give students practical experience making decisions in real-world environments. The School offers MBA and Executive MBA (EMBA) degrees, as well as non-degree Executive Education programs. For more information, visit www.gsb.columbia.edu.