Franklin-Covey
Encyclopedia
FranklinCovey based in West Valley City, Utah
, is a provider of time management training and assessment services for organizations and individuals. The company was formed on May 30, 1997, as a result of an acquisition by Franklin Quest of Stephen R. Covey's Covey Leadership Center. Among other products, the company markets the FranklinCovey planning system, modeled in part on the writings of Benjamin Franklin
, and The Seven Habits of Highly Effective People
, based on Covey's research. The company operates approximately 20 retail stores throughout the United States and has sales channels in more than 50 countries worldwide.
, CEO of Franklin Quest, expected the acquisition would increase the company's market value, through the synergistic combination of Covey's Seven Habits
book with the Franklin Planner and its associated training courses. However, after the merger the company's stock price dropped from around $20 per share to a low of under $1 per share in early 2003. As of June 1, 2006, it was trading around $7 per share. From late 2009 to mid 2010 the stock price was in the range $5.5 to $8.
through its own stores and through other retailers including Office Depot
, Staples, Office Max and has expanded into licensing the FranklinCovey brand to planners offered at non-FranklinCovey retailers such as the "365" line at Target
and the "DayOne" line at Wal-Mart
.
The company markets a variety of book and audio products based on Covey's 7 Habits material, as well as numerous titles by other FranklinCovey consultants. The company also offers two main training courses: one based on The Seven Habits of Highly Effective People
; and another based on the original FranklinQuest time management program, now titled Focus.
Additionally, FranklinCovey has launched a line of new training and consulting products focusing on leadership and organizational alignment. Software implementation of the company's planning system is named "PlanPlus for Windows", and an online version is offered under the brand "PlanPlus Online".
West Valley City, Utah
West Valley City is a city in Salt Lake County and a suburb of Salt Lake City in the U.S. state of Utah. The population was 129,480 at the 2010 census,...
, is a provider of time management training and assessment services for organizations and individuals. The company was formed on May 30, 1997, as a result of an acquisition by Franklin Quest of Stephen R. Covey's Covey Leadership Center. Among other products, the company markets the FranklinCovey planning system, modeled in part on the writings of Benjamin Franklin
Benjamin Franklin
Dr. Benjamin Franklin was one of the Founding Fathers of the United States. A noted polymath, Franklin was a leading author, printer, political theorist, politician, postmaster, scientist, musician, inventor, satirist, civic activist, statesman, and diplomat...
, and The Seven Habits of Highly Effective People
The Seven Habits of Highly Effective People
The Seven Habits of Highly Effective People, first published in 1989, is a self-help book written by Stephen R. Covey. It has sold more than 15 million copies in 38 languages since first publication, which was marked by the release of a 15th anniversary edition in 2004...
, based on Covey's research. The company operates approximately 20 retail stores throughout the United States and has sales channels in more than 50 countries worldwide.
Effect of acquisition
Hyrum SmithHyrum W. Smith
Hyrum W. Smith founded the Franklin Quest Company in 1981. Among the company's other products, Smith created the Franklin Planner and seminars on productivity development based on the "belief window" and other concepts. In 1997, Franklin Quest merged with Stephen R. Covey's Covey Leadership...
, CEO of Franklin Quest, expected the acquisition would increase the company's market value, through the synergistic combination of Covey's Seven Habits
The Seven Habits of Highly Effective People
The Seven Habits of Highly Effective People, first published in 1989, is a self-help book written by Stephen R. Covey. It has sold more than 15 million copies in 38 languages since first publication, which was marked by the release of a 15th anniversary edition in 2004...
book with the Franklin Planner and its associated training courses. However, after the merger the company's stock price dropped from around $20 per share to a low of under $1 per share in early 2003. As of June 1, 2006, it was trading around $7 per share. From late 2009 to mid 2010 the stock price was in the range $5.5 to $8.
Products
The company continues to market the FranklinCovey planning system Franklin PlannerFranklin Planner
The Franklin Planner is a paper-based time management system created by Hyrum W. Smith. It is marketed by the FranklinCovey company, and promoted by Stephen Covey. Physically it consists of a ring binder holding specially designed loose leaf pages...
through its own stores and through other retailers including Office Depot
Office Depot
Office Depot is a supplier of office products and provides many services. The company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, printing, document reproduction, shipping,...
, Staples, Office Max and has expanded into licensing the FranklinCovey brand to planners offered at non-FranklinCovey retailers such as the "365" line at Target
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
and the "DayOne" line at Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
.
The company markets a variety of book and audio products based on Covey's 7 Habits material, as well as numerous titles by other FranklinCovey consultants. The company also offers two main training courses: one based on The Seven Habits of Highly Effective People
The Seven Habits of Highly Effective People
The Seven Habits of Highly Effective People, first published in 1989, is a self-help book written by Stephen R. Covey. It has sold more than 15 million copies in 38 languages since first publication, which was marked by the release of a 15th anniversary edition in 2004...
; and another based on the original FranklinQuest time management program, now titled Focus.
Additionally, FranklinCovey has launched a line of new training and consulting products focusing on leadership and organizational alignment. Software implementation of the company's planning system is named "PlanPlus for Windows", and an online version is offered under the brand "PlanPlus Online".
Current leadership
Since the acquisition, both Covey and Smith have stepped down from the Co-Chairman/Co-CEO positions in favor of Robert Whitman, who also took an investment position in the company.External links
- FranklinCovey home page
- FranklinCovey history at Funding Universe
- FranklinCovey Software - Software for individuals and Businesses featuring the FranklinCovey Planning System