FranklinCovey

Last updated

FranklinCovey
FranklinCovey
FormerlyFranklin Quest Co. and Covey Leadership Center
Company typePublic company
NYSE:  FC
Russell 2000 Component
IndustryBusiness consulting, talent development, education and training services
FoundedMay 30, 1997
HeadquartersSalt Lake City, Utah
Key people
Paul Walker, Chairman/CEO
Stephen Young, CFO/CAO/VP of Finance/Controller
Stephen R. Covey, co-founder
Hyrum W. Smith, co-founder
ProductsLeadership and individual effectiveness training
RevenueIncrease2.svg $225.36 million USD (2019) [1]

Franklin Covey Co., trading as FranklinCovey and based in Salt Lake City, Utah, is a coaching company which provides training and assessment services in the areas of leadership, individual effectiveness, and business execution for organizations and individuals. The company was formed on May 30, 1997, as a result of merger between Hyrum W. Smith's Franklin Quest and Stephen R. Covey's Covey Leadership Center. Among other products, the company has marketed the FranklinCovey planning system, modeled in part on the writings of Benjamin Franklin, and The 7 Habits of Highly Effective People , based on Covey's research into leadership ethics.

Contents

FC Organizational Product is the official licensee of FranklinCovey products and continues to produce paper planning products based on Covey's time management system. FranklinCovey also has sales channels in more than 120 countries worldwide. [2]

History

Franklin Quest and the Covey Leadership Center operated independently until January 22, 1997, when the two companies jointly announced a merger and public offering valued at $160 million. [3]

Merger

Hyrum W. Smith, then the CEO of Franklin Quest, expected that the 1997 acquisition would increase market value through the synergistic combination of Covey's 7 Habits book with the Franklin Planner system and with the company's associated training courses. [3] However, after the merger FranklinCovey's stock price dropped from around $20 per share to a low of under $1 per share by early 2003. As of June 1, 2006, it traded around $7 per share which has increased their purchase rate. From late 2009 to mid-2010, the stock price moved in the range $5.5 to $8. [4]

Products and services

In 2008, FranklinCovey's CEO, Bob Whitman, changed the company's direction by selling off its paper products business and shifting focus to in-person training sessions and live-online training through the internet. The spinoff of the paper planner business became known as FC Organizational Products and maintains a contract with FranklinCovey as the authorized licensee of the brand name. [5] Together the two companies still maintain one retail location, located at FranklinCovey's corporate campus in Salt Lake City. [6]

FranklinCovey has more recently focused on various in-person and live-online training for individuals and organizations, ranging from leadership development training, business execution planning, sales performance, and individual effectiveness training. Typically, the company will correspond their products with book launches written by FranklinCovey consultants or industry thought leaders. The company's core training products it remains known for is The 7 Habits of Highly Effective People , Leading at the Speed of Trust, and The 4 Disciplines of Execution. [7] [8] [9]

The LeaderInMe program is a "whole school transformation model and process" based around Covey's work. [10] As of 2024, there were LeaderInMe schools in the Guatemala, Jordan, Malaysia, Mexico, the Philippines, the Netherlands, Qatar, Taiwan, Vietnam, the United Kingdom and every state in the United States. [11] According to the Center for Research and Reform in Education at Johns Hopkins University, students at schools using the program reported that teachers were "nicer" and that discipline problems had declined. [12] The program has been criticized for its connections to Mormonism, and imposing "a cult-like, robotic, corporate atmosphere” into public schools, indoctrinating kids through memorized songs and catchphrases related to the seven habits. [13] [14]

Related Research Articles

<span class="mw-page-title-main">Michael Dell</span> American business magnate

Michael Saul Dell is an American billionaire businessman and investor. He is the founder, chairman, and CEO of Dell Technologies, one of the world's largest technology infrastructure companies.

Darl Charles McBride is an entrepreneur and CEO of Shout TV Inc. McBride is known as the former CEO of The SCO Group. On March 7, 2003, during McBride's tenure as CEO of the company, The SCO Group initiated litigation against IBM, alleging breach of contract and copyright infringement claims connected to Unix. SCO Group lost in a series of court battles, and was eventually forced into bankruptcy.

<span class="mw-page-title-main">Stephen Covey</span> American educator, author, businessman and motivational speaker

Stephen Richards Covey was an American educator, author, businessman, and speaker. His most popular book is The 7 Habits of Highly Effective People. His other books include First Things First, Principle-Centered Leadership, The 7 Habits of Highly Effective Families, The 8th Habit, and The Leader In Me: How Schools and Parents Around the World Are Inspiring Greatness, One Child at a Time. In 1996, Time magazine named him one of the 25 most influential people. He was a professor at the Jon M. Huntsman School of Business at Utah State University (USU) at the time of his death.

<i>The 7 Habits of Highly Effective People</i> 1989 book by Stephen R. Covey

The 7 Habits of Highly Effective People, first published in 1989, is a business and self-help book written by Stephen R. Covey. The book goes over his ideas on how to spur and nurture personal change. The book also explores the concept of effectiveness in achieving results, the need for focus on character ethic rather than the personality ethic in selecting value systems. As named, his book is laid out through seven habits he has identified as conducive to personal growth.

<span class="mw-page-title-main">Berkshire Hathaway</span> American multinational conglomerate holding company

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Founded in 1839 as a textile manufacturer, it transitioned into a major conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger.

<span class="mw-page-title-main">Citrix Online</span> Online services division of Citrix Systems

Citrix Online was the name of the online services division of Citrix Systems. Citrix Online sold web-based remote access, support, and collaboration software and services. Its products are GoToAssist, GoToMeeting, GoToMyPC, GoToTraining, GoToWebinar, Podio, and OpenVoice. Citrix Online used the software as a service (SaaS) and application service provider (ASP) software business models.

<span class="mw-page-title-main">Hindalco Industries</span> Indian multinational aluminium manufacturing company

Hindalco Industries Limited an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India.

<span class="mw-page-title-main">KIPCO</span>

Kuwait Projects Company (Holding), known as KIPCO, is an investment holding company in the Middle East and North Africa (MENA) region, with consolidated assets of US$ 40.1 billion as of 31 December 2023 and presence in 20+ countries across multiple industries. KIPCO is a multi-sector operator with portfolio companies in commercial banking, petrochemical & oil services, foodstuff, asset management & investment banking, media, real estate, healthcare, logistics and education.

<span class="mw-page-title-main">Smith's Ballpark</span> Minor League Baseball Stadium in Salt Lake City

Smith's Ballpark is a minor league baseball park in Salt Lake City, Utah. It is the home field of the Salt Lake Bees of the Pacific Coast League and the collegiate Utah Utes of the Pac-12 Conference.

Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.

<span class="mw-page-title-main">Franklin Planner</span> Commercial personal organizer

The Franklin Planner is a paper-based time management system created by Hyrum W. Smith first sold in 1984 by Franklin International Institute, Inc. The planner itself is the paper component of the time management system developed by Smith. Hyrum Smith in turn based many of his ideas from the teachings of Charles Hobbs who utilized a similar instrument called The Day-Timer, which predated the Franklin Planner.

Hyrum W. Smith founded the Franklin Quest Company in 1983. Among the company's other products, Smith created the Franklin Planner and seminars on productivity development based on "principles" and other concepts. In 1997, Franklin Quest merged with Stephen R. Covey's Leadership Center to form Franklin Covey. Smith was the author of 10 Natural Laws of Successful Time and Life Management (1994) and What Matters Most (2001) as well as producing audio tapes.

Sean Covey is an American business executive, author, and speaker. He is President of FranklinCovey Education and also serves as Executive Vice President of Global Partnerships. Covey's works include The 4 Disciplines of Execution, The 6 Most Important Decisions You'll Ever Make, The 7 Habits of Happy Kids, and The 7 Habits of Highly Effective Teens, which has been translated into 20 languages and sold over 8 million copies worldwide.

Richard Ivan Winwood is an author, religious leader, and business executive with Franklin-Covey.

<span class="mw-page-title-main">Rosetta Stone Inc.</span> American software company specializing in language learning

Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.

<span class="mw-page-title-main">John M. Noel</span> American entrepreneur and philanthropist (born 1948)

John M. Noel is an American entrepreneur and philanthropist best known for founding Travel Guard International, the world's largest travel insurer and a division of the American International Group subsidiary, Chartis.

Stephen M. R. Covey is an American writer and public speaker and the author of the books: The SPEED of Trust, Smart Trust, and Trust & Inspire: How Truly Great Leaders Unleash the Greatness in Others. He is the co-founder and CEO of a company called CoveyLink Worldwide and former president and CEO of Covey Leadership Center.

<span class="mw-page-title-main">Habit Burger & Grill</span> American fast casual restaurant chain

Habit Burger & Grill is a California-based fast casual restaurant chain that specializes in chargrilled hamburgers. The company also sells other typical fast-casual fare. It was founded in 1969 at Santa Barbara, California, and its headquarters are in Irvine, California.

<span class="mw-page-title-main">ITC Limited</span> Indian conglomerate

ITC Limited is an Indian conglomerate company, headquartered in Kolkata. It has a presence across six business segments, namely FMCG, hotels, agribusiness, information technology, paper products, and packaging. It generates a plurality of its revenue from tobacco products.

<span class="mw-page-title-main">EaseMyTrip</span> Indian online travel company

EaseMyTrip, is an Indian multinational online travel company, headquartered in New Delhi, India. It was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. The company provides hotel bookings, air tickets, domestic and international holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, UAE and Thailand with country-specific websites for UAE, UK and Thailand.

References

  1. ↑ "FC Stock Price | Franklin Covey Co. Stock Quote (U.S.: NYSE)". MarketWatch. Retrieved November 9, 2020.
  2. ↑ "Global Offices". www.franklincovey.com. Retrieved November 9, 2020.
  3. 1 2 Knudson, Max B. (January 22, 1997). "FRANKLIN QUEST AND COVEY TO MERGE". Deseret News. Retrieved November 9, 2020.
  4. ↑ "Franklin Covey Stock Price FC" . Retrieved February 27, 2014.
  5. ↑ "Company Information – FranklinPlanner Customer Service". service.franklinplanner.com. Retrieved November 9, 2020.
  6. ↑ "Store Locator – FranklinPlanner Customer Service". service.franklinplanner.com. Retrieved November 9, 2020.
  7. ↑ Langer, Emily (July 16, 2012). "Stephen R. Covey dies; author of 'The 7 Habits of Highly Effective People' was 79". Washington Post. ISSN   0190-8286 . Retrieved November 9, 2020.
  8. ↑ Urias, Lisa. "5 lessons from the barrio make coping with coronavirus - or anything else - easier". The Arizona Republic. Retrieved November 9, 2020.
  9. ↑ Schawbel, Dan. "The 4 Disciplines of Business Execution". Forbes. Retrieved November 9, 2020.
  10. ↑ "The Leader in Me". www.franklincovey.com. Retrieved April 18, 2024.
  11. ↑ "Leader in Me". www.leaderinme.com. Retrieved April 18, 2024.
  12. ↑ Hollingsworth, Heather (October 15, 2013). "Stephen Covey's '7 Habits' shakes up schools". San Diego Union-Tribune . Associated Press . Retrieved April 18, 2024.
  13. ↑ Brooks, Jim (May 18, 2016). "City school board hears objections to "The Leader in Me" school curriculum - Nelson County Gazette". nelsoncountygazette.com. Archived from the original on May 18, 2016. Retrieved April 18, 2024.
  14. ↑ Stanford, Carmen (November 3, 2014). "Old Kings Elementary's "Leader In Me" Program: Corporate Indoctrination Posing as Character Education". FlaglerLive. Retrieved April 18, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.