By S-3 Public Affairs
FACT OF THE WEEK
Harvard Business Review is out with a new look at how CEOs spend their time. The report tracked 27 CEOs “for a full quarter (three months) each.” Among the findings:
- “The leaders in our study worked 9.7 hours per weekday, on average. They also conducted business on 79% of weekend days, putting in an average of 3.9 hours daily, and on 70% of vacation days, averaging 2.4 hours daily.”
- About half (47%) of a CEO’s work was done at company headquarters. The rest was conducted while visiting other company locations, meeting external constituencies, commuting, traveling, and at home. Altogether, the CEOs in our study worked an average of 62.5 hours a week.”
- “The top job in a company involves primarily face-to-face interactions, which took up 61% of the work time of the CEOs we studied. Another 15% was spent on the phone or reading and replying to written correspondence. The final 24% was spent on electronic communications.”
- “In our study about half (46%) of a CEO’s time with internal constituencies was spent with one or more direct reports, and 21% of it was spent only with direct reports. The total time spent with direct reports ranged from a low of 32% of time with internal constituencies to a high of 67%.” The variation depended on confidence in the direct report.
- “On average, the leaders in our study had 37 meetings of assorted lengths in any given week and spent 72% of their total work time in meetings.”
IN THE MEDIA
The Wall Street Journal reports on another effort to make TV advertising more targeted to specific audiences. “Roku Inc. said it is launching a marketplace where TV networks can sell commercial space that targets specific audiences, adding to an array of companies trying to make TV advertising more targeted.” The idea is that the networks will sell ad space to Roku’s “Audience Marketplace,” and then, “will be able to use its viewing data to help advertisers target specific customers.”
“Roku, which sells devices that stream TV programming, has growing ambitions in the advertising business. The company reported $75 million in first quarter revenue from its platform business, which includes advertising and content services like licensing and accounts for 55% of the company’s revenue. … Roku’s initiative is one of several aimed at updating the antiquated TV ad business. Fox, Turner, Viacom and NBCU recently joined forces to create a separate consortium to help advertisers figure out which shows are likely to reach specific audiences. AT&T Inc. also has considered creating a marketplace for TV and digital ad inventory. It’s unclear how much commercial space the media companies will be willing to sell in the Roku marketplace. TV networks typically allocate two minutes of ad time per hour to TV distributors, who then sell the space to local advertisers. The TV networks then sell national ads aimed at broad groups of people in their portion of the programming.”
IN THE ADMINISTRATION
The Seattle Times reports, “The White House says President Donald Trump will make a stop in Montana next week. Spokeswoman Lindsay Walters says Trump will travel to the state on July 5. She didn’t say what the president would be doing, but the visit is expected to include a campaign appearance on behalf of state auditor Matthew Rosendale, the Republican U.S. Senate candidate.”
ON THE HILL
Have a wonderful July 4th Holiday!