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When Michael Golden had taken over as CEO of Smith & Wesson in 2004, he faced a bleak situation. The world-famous revolver brand had been firing blanks while opponents stole markets and opportunities went untargeted. Under Golden's authority, Smith & Wesson has advanced marketing, introduced new product lines, such as rifles and shotguns, and received companies to grow into new markets, such as perimeter security. Here, he shares the authority methods that he relied on throughout this impressive turnaround."From my first day at Smith & Wesson, I realized that this 150-year-old company got authority problems," he says. "It had been a renowned brand with dedicated, hardworking employees. But when one of these told me in every earnestness that the business 'kind of runs itself', I realized no one at the top was setting course. No business runs itself, not one with Smith & Wesson's sizeable assets. If there is any unsupervised running happening, it was a vintage and storied organization running itself in circles to nowhere. Five years later, I can happily report that Smith & Wesson is back again where it belongs, in position as the undisputed leader in the American handgun industry. I don't pretend to know all the answers, or even the majority of them, but my method of authority and my insistence on performance have helped resurrect a corporation that a lot of observers wrote off as a growth story way back when."
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