Masters of Scale From Crystal Pepsi to Cool Ranch Doritos: Lessons from David Novak
Sep 12, 2024
David Novak, co-founder and former CEO of Yum! Brands, dives into his journey transforming the fast food industry. He shares insights from the memorable Crystal Pepsi launch and the creative spark behind Cool Ranch Doritos. Novak stresses the importance of listening and recognizing team efforts, while also discussing the delicate balance between risk-taking and sustainable growth. His mission to mentor the next generation of leaders shines through as he advocates for the integration of social responsibility in business.
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Crystal Pepsi Story
- David Novak spearheaded the launch of Crystal Pepsi, a clear cola, in the early 1990s.
- Despite initial hype and positive test market results, it failed due to taste and execution issues.
Embrace Risk and Feedback
- Encourage risk-taking and "big swings" in your company culture.
- Publicly acknowledge and reward employees who offer constructive feedback, even if it challenges your own ideas.
The Roving Recognition Band
- David Novak's CFO, Rick Carucci, encouraged him to participate in a company recognition event, despite Novak's focus on an important presentation.
- Novak later used this story to highlight the value of recognizing employees and accepting feedback.
