Consumer purchasing behavior is changing. As a retail executive you need to examine these changes, how you should prepare, and how you should respond.
What’s More Important than Profit?
Cash may be more important than profit. The more we align our decisions to help employees drive cash availability, to use cash wisely, and to generate more cash for the company, the better.
Take a Strategic Approach to Evaluating Your Sales Ecosystem
Frequently, execution weaknesses trace to the supporting elements in the sales ecosystem, not to the talent base. h, strategic analysis of the elements in a typical sales ecosystem. A focused effort on continuous improvement – with honest inputs from the sales people – will yield the kind of productive supporting environment sales professionals require to succeed.
Costs of Innovation Must be Weighed Against Standing Still
When faced with the decision of whether or not to invest in an innovative idea, managers often measure the cost of the incremental investment. However, the error in this analysis is that it doesn’t take into account the cost of doing nothing — the cost of standing still.
Why It’s Critical to Have Sound Financial Acumen
While you might not ever be fluent in finance-speak, you can develop the acumen to carry on the conversation in the language of business. Finance folks alone shouldn’t dominate the conversation – better decisions and greater alignment occurs when all departments are balanced throughout an organization.
You Won’t Survive as a Commodity. Differentiate on Value!
Differentiation is what you provide your customers, either a product or a service, that they cannot get elsewhere or do for themselves.