Michael Bloomberg started his career as a clerk and worked his way up to head of equity and sales. When his company went public, he used his bonus to start his own company. His innovative idea was to create a single terminal with up-to-date financial information from various sources. This made his company very successful and left competitors behind. As a leader, Bloomberg came up with new ideas that advanced the financial information industry, such as Bloomberg Business Radio and magazines. While an effective leader, it is unclear if he is truly charismatic as the case does not show him having devoted followers.

1. 1
CASE STUDY – 10
BLOOMBERG: WANTED DEAD OR ALIVE
Submitted to,
Professor Abhilash G N
On
August 8, 2014
In partial fulfillment of the requirements of
the course
Principles of Management
By
Nivin Vinoi
P14199
PGDM-B

2. 2
Table of Contents
Executive Summary…………………………………………………………………3
Situational Analysis………………………………………………………………….4
Problem Statement………………………………………………………………….4
Implementation……………………………………………………………………..4

3. 3
EXECUTIVE SUMMARY
This case is about Michael Bloomberg who was very
ambitious and due to his hard work his career changed drastically from a post of clerk to CEO of
his own company. Due to his innovativeideashe and his company become very successfulleaving
his competitors far behind.
(Word count: 48)

4. 4
SITUATION ANALYSIS
Michael Bloomberg started his career as a clerk. Due to initiative and unhealthy obsession for
work, he climbed up to the position of head of equity and sales. When his company went public
he got some consolation prize and with that money he started his own company. He planned to
turn the financial information industry upside down through his innovation. His idea was to make
a single terminal loaded with research and up-to-the-minute corporate data. Almost
singlehandedly, Bloomberg led his industry to new heights in technology and service. Thus they
climbed higher and faster than anyone elsein this business. After this successfulventurehe started
many other ventures like Bloomberg Business Radio, Bloomberg Magazine, and Bloomberg
Forum etc. Thus Bloomberg achieveda separateposition in market, a position that is very difficult
to be achieved by his competitors.
PROBLEM STATEMENT
Is Bloomberg a charismatic and effective leader?
IMPLEMENTATION
The most innovative idea which lead Bloomberg to success was thatall financialinformation’s can
get in a single window in a cheaper cost or we can say as a single point access which uses in-home
technology. Until that time for getting all information’s they have to consult a variety of sources.
It caused a lot of time consumption. Timely information’s are very critical in business venture.
Bloomberg succeeded in giving timely up-to-date information’s at very cheap rate. He is an
effective leader. Under his single hand he led his industry to new heights. A charismatic leader
means he should be visible over his organization. If Bloomberg is a charismatic leader he should
be a public freak and he should have followers. But it is not shown clearly in this case. Only thing
thatshows him ascharismaticleaderisthathis name was alllabelledasproduct name. For example
his first product was named as Bloomberg machine, then Bloomberg business radio, Bloomberg
forum etc. Second thing thatshows his charismaticcharacteris, whilehe was working for Salomon
Brothers, he said to one of the partners of Salomon that he could run that company better than
them. This shows his eagerness and self-confidence. As a leader he always look forward to the
future. He doesn’t feared of his competitor. He knows well that the future belongs to multimedia,
not product companies. He concentrated on it, and he achieved high positions.
(Word count: 388)