JCPenney's Facebook page - May 2 2013 Business strategy and execution are closely intertwined. I don't go as far as believing in the axiom: "A mediocre strategy well executed is better than a great strategy poorly executed". You should always look for the best possible strategy and set realistic milestones along the journey. But I must admit to at times, putting the brakes on strategies that involved so much change that they could effectively have become not-doable.
Take the recent experience of JCPenney, a mid-market department store chain in the United States. No one questioned the brilliant track record of Ron Johnson who became the new CEO in late 2011, coming as he did from mega-success stories at both Target and Apple. But his plans for JCP's collection of over 1,000 rather tired looking stores were far reaching and involved what was effectively a kill or cure strategy - too much change too fast for most of the people involved. Including the customers.
He departed just a few weeks ago, after 17 months of much needed store and logistics improvements, as well as bringing about a major change to the whole sales and marketing approach. Not to speak of the culture jump he wanted everyone involved to take! It was too much.
As of May 1st 2013 JCP, began a 'mea culpa' publicity campaign along the lines of... we know we made mistakes but please come back to us...
Take the recent experience of JCPenney, a mid-market department store chain in the United States. No one questioned the brilliant track record of Ron Johnson who became the new CEO in late 2011, coming as he did from mega-success stories at both Target and Apple. But his plans for JCP's collection of over 1,000 rather tired looking stores were far reaching and involved what was effectively a kill or cure strategy - too much change too fast for most of the people involved. Including the customers.
He departed just a few weeks ago, after 17 months of much needed store and logistics improvements, as well as bringing about a major change to the whole sales and marketing approach. Not to speak of the culture jump he wanted everyone involved to take! It was too much.
As of May 1st 2013 JCP, began a 'mea culpa' publicity campaign along the lines of... we know we made mistakes but please come back to us...
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