I happened to be reading a case study from the Harvard Business Review and came across an interesting little fact about life working @ RIM. I have heard about some of RIM’s quirky customs in certain departments but most of my friends there have explained them away with a quick joke about being in Waterloo. That is why I was surprised to learn about a interesting custom they have to try to distance itself from the “shareholder value principle” where everything a company does should directly relate to increasing shareholder value.
Since RIM’s IPO in 1997 the founders, Mike Lazaridis and Jim Balsillie, set a rule that any manager who mentioned share price at work had to buy every person @RIM a doughnut. According to the Harvard Business Review this happened in 2001 where the then COO (possibly current COO Don Morrison?) mentioned RIM’s rising stock price before an analysts call forcing him to buy more than 800+ doughnuts. That makes me wonder what would happen if a manager did that now with RIM’s exponential workforce.
I told you it was a fun fact but I wish I could modify this RIM custom with just one more addition. I propose that every time RIM lets carriers have their way to screw their end customers then RIM should buy all of their customers doughnuts…
PS: If you know of any other fun facts at RIM feel free to share them with us through the contact us page!