John Yokoyama had no managerial experience when he bought The Famous Pike Place Fish Company. He started by implementing an authoritarian management style where everyone did as he commanded without question. The way he was leading nearly caused him to fail. When Jim Bergquist arrived on the scene, however, he switched to a management style based on inspiring his employees. Yokoyama adopted this method to distribute authority and empower his workforce (Management by Inspiration – Seattle’s World Famous Pike Place Fish Market, 2015). Moreover, I believe that Berquist’s entry as a co-owner affected Yokoyama’s leadership style because of the inspirational management he introduced. Berquist also served as a consultant for the business, and in this position, he developed a world-famous slogan and leadership style that helped the company recover and thrive. Although The Famous Pike Place Fish was on the verge of collapsing due to bad leadership, the combined effort of Yokoyama and Berquist to develop inspirational management led to the company’s success.
The addition of Berquist as a co-owner and Yokoyama’s openness to and acceptance of the need for change have both contributed to the shift in management style that has taken place. Due to this, everyone on staff was able to contribute to the success of the business. Employees’ ability to think outside the box and contribute original ideas to the company’s success is a major effect. Additionally, empathy is valuable since it builds team members’ trust (Ertureten et al., 2012). Trust in one another is the foundation for an open, honest working relationship (Syed et al., 2018). This will have a multiplier effect on teamwork and output, but more significantly, the staff will feel cared for emotionally.
In the video, John and Jim discuss five key lessons that helped their business succeed. The first key takeaway is “Let’s be world-renowned.” Insights like these are crucial because they allow the business to improve its customers’ lives, boosting the company’s bottom line. Secondly, “You have the choice” encourages staff members to make informed decisions that contribute to the company’s success. Thirdly “Committed to the purpose,” which enables the group to make the conscious decision to stick to the plan to make the company famous worldwide (Management by Inspiration – Seattle’s World Famous Pike Place Fish Market, 2015). The staff’s efforts to “Produce outlandish results” is the fourth principle paid off by creating items that the customers found desirable. “Anything is possible” is the fifth lesson that contributed to the success by ensuring that the owners believe in success regardless of the situation.
References
Ertureten, A., Cemalcilar, Z., & Aycan, Z. (2012). The relationship of downward mobbing with leadership style and organizational attitudes. Journal of Business Ethics, 116(1), 205–216.
Management by Inspiration – Seattle’s World Famous Pike Place Fish Market. YouTube. (2015).
Syed, A. R., Rehman, K. U., & Kitchlew, N. (2018). Impact of Perceived Leadership Style on Employees’ Work Stress: Moderating and Mediating Role Big 5 Personality Traits. A Research Journal of Commerce, Economics, and Social Sciences, 12(1), 6–15. Web.