This is the case of a leader who came into a hugely successful company only to find out that it lacked basic systems and was running out of growth opportunities in its existing markets. Though a non-retailer, he had a lot of experience in different businesses and learned quickly. Having diagnosed the situation, he made overdue investments in systems and brought in new blood from outside, instilling new discipline, capabilities and operational efficiencies. Over five years, he managed to transform this seat-of-the-pants operation into a much more robust company, while at the same time continuing to deliver solid financial results. He also repositioned the company for growth in markets where there was little serious competition. These were considerable accomplishments for which he gained belated recognition. Yet, there were nagging concerns throughout his tenure: doubts from analysts about where he was taking the company; criticism from former executives that he was killing the entrepreneurial culture; question marks over the morale of store employees; complaints about customer service; and public disapproval for his expanding remuneration package. These issues came to a head in his sixth year in the job and specifically at a badly misjudged annual meeting with shareholders. Ultimately, he stopped listening to dissenting voices, and made a dreadful blunder – from which his reputation never quite recovered.
Without a robust geopolitical radar, successfully navigating geopolitics is more luck than judgment.
Here are three strategic lessons from the tramp shipping industry.
Why the market for new year predictions is broken and how executives can better use forecasts to discern the implications for their companies.
Companies need clear guidance to achieve sustainable business transformation. A practical roadmap identifying drivers for effective change can make success more likely.
Strategic thinking is widely acknowledged as a critical leadership capability, yet many executives struggle to consistently prioritize it.
The increasing pace of disruption and change means leaders need to cultivate behaviors that support their sustained success. From building strategic flexibility to broadening stakeholder connections, here is our expert guide to leading in an age o...
Did our predictions for 2024 come true, a turbulent election year, bitcoin and CBDC, COP29 and electric cars, China, EU integration and Euro football
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
