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As they often say in retail stores about handling merchandise, “ If you break it you own it”. And second, be prepared to accept the consequences that may come from circumventing or defying rules There is always the chance that circumventing a rule can cause grief for someone else, some where else in the organization or outside it.
Fortunately, demonstrating your skills in this area doesn't demand that you singlehandedly develop a new breakthrough product or revise the company's overall business model. Senior-level decision makers aren't looking for someone at your level to make "roll the dice" bets that can have a significant negative impact on company performance.
It becomes particularly challenging for people working outside of any product development roles. Rather, it’s consumed by materials buyers, merchandisers, marketing and advertising teams, as well as the finance department — not to mention the fabricators of the shoes. It’s a question most people never consider. They create policies.
To accommodate frequent, fundamental changes to business models, leading retailers generally follow three principles that have been developed through trial and error, often in the midst of disruption. Leading retailers have developed the ability to nimbly change direction, even based on beta testing.
Lance Best, the CEO of Barker Sports Apparel, was meeting with Nina Kelk, the company’s general counsel, who also oversaw humanresources. The next morning, Lance was in his office when he got a text from Jhumpa, the head of product and merchandising: Can you talk? “Unfortunately, I think we’re beyond that.”
“I’m pretty convinced that there are superficial differences in culture and communication and how people do things,” said the global humanresources officer. By the 2000s, they had developed a methodology for a new class of culture-specific line extensions for specific markets, helping drive growth.
Ask people how to develop a good corporate culture, and most of them will immediately suggest offering generous employee benefits, like they do at Starbucks, or letting people dress casually, as Southwest Airlines does. How you operate on the inside should be inextricably linked with how you want to be perceived on the outside.
In May of 2005, Yahoo CEO Terry Semel, cofounder Jerry Yang, corporate development executive Toby Coppel, and I — I was then chief financial officer of the Silicon Valley internet company — went on what would turn out to be a fateful trip to China. Only legal, finance, and humanresources still reported back to headquarters.
There are also differences in the merchandise mix of different companies. Some include promotional expenses; some don’t. Some include compensation and benefits for some of their employees; some don’t.
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