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.
Culture eats strategy for breakfast is one of the most enduring truisms of management. But is it really the case? And what is culture anyway? Culture eats strategy for breakfast is one of the most enduring truisms of management. But is it really t...
The ways popular frameworks are used fall short in today’s rapidly changing environment. Here is a new way to make better-informed strategic choices.
Test your knowledge on ESG governance with our fun quiz! Learn how strong governance drives environmental and social success in investing. Take it now!
Companies desperately in need of a turnaround in fortunes should take inspiration from the 2008 rescue mission by the then-new Ford boss Alan Mulally.
Panelists debate the next US administration’s policy on China
As the global environmental crisis reaches unprecedented levels, businesses face mounting pressure to act. But this challenge is also a major business opportunity. The companies that move quickly to tackle biodiversity loss will not only protect o...
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