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RS bits and pieces Management bits and pieces 42 RS February - March 2013 book reviews in 10 Words Sir Terry Leahy In his 14 years as CEO of Tesco, Sir Terry Leahy not only turned the company into the largest supermarket chain in the UK but also transformed it into a global enterprise. As a result, Sir Terry is now one of the world’s most admired business leaders, widely acclaimed for his drive, flair and nononsense approach. In Management in 10 Words he draws on his experience and expertise to pinpoint the 10 vital attributes that make successful managers and underlie great organisations. He tackles the challenges that every manager faces, in a series of insights that are personal, provocative, and down to earth. And he explains: - Why initial failure often leads to ultimate success. - Why profits stem from a company’s values, not its day-today business. - Why competition should always be welcomed. - Why simplicity leads to innovation. - Why trust is the bedrock of effective leadership. The result is an inspiring, thoughtful and supremely practical guide that will prove invaluable to all managers in all types of organisation. The most substantial benefit from this book is derived from what Sir Terry generously shares from his personal and professional experiences as Tesco’s former CEO. His 10 words are; truth, loyalty, courage, values, act, balance, simple, lean, compete, and trust. Leahy’s key insight is that his Conscious capitalism Conscious Capitalism: Liberating the Heroic Spirit of Business In this book, WholeFoods’ iconic CEO, John Mackey, and professor Raj Sisodia show how forward-thinking companies are creating a movement that’s transforming business. “We believe that business is good because it creates value, it is ethical because it is based on voluntary exchange, it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity. Free-enterprise capitalism is the most powerful system for social cooperation and human progress ever conceived. It is one of the most compelling ideas we humans have ever had. But we can aspire to something even greater.” says the Conscious Capitalism Credo The book features some of today’s best-known companies, they illustrate how these two forces can, and do, work most powerfully to create value for all stakeholders: including custom- own behaviour must reflect the values he affirmed, especially when it came to relationships with his staff. Long ago, Leahy realised he could not manage others effectively unless he understood how to manage himself. He devotes a separate chapter to each of his 10 core values. In chapter three he writes: “Good strategies need to be bold and daring. People need to be stretched as they can do more than they think. Goals have to cause excitement, and perhaps just a little fear. Above all, they need to inspire, and present an organisation with a choice: have these great ambitions, or remain as you are.” And then in chapter seven: “Change in any fastmoving, fast-growing company is not easy. My solution is quite simple: to make things simple. Simplicity is the knife that cuts through the tangled spaghetti of life’s problems.” Before concluding his book, Leahy shares his thoughts about the deeply-troubled global business community, one in which many (too many) business leaders have lost their moral compass and led their organisations astray. “More than ever before, organisations need people who are not merely motivated to work hard, but have the freedom and the encouragement to innovate, to think for themselves, and take risks,” he writes. “We need a culture that embraces change, and simple systems that can easily respond to that change. Above all,” and these points are his most important, “companies and other organizations that rely on customer or citizen loyalty must not simply have common values, but live by those values. They need to confront the truth head-on, as loyalty and trust cannot be built on the shifting sand of lies and half-truths.” ers, employees, suppliers, investors, society, and the environment. These ‘Conscious Capitalism’ companies include Whole Foods Market, Southwest Airlines, Costco, Google, Patagonia, The Container Store, UPS, and dozens of others. We know them; we buy their products or use their services. Now it’s time to better understand how these organisations use four specific tenets – higher purpose, stakeholder integration, conscious leadership, and conscious culture and management – to build strong businesses and help advance capitalism further toward realising its highest potential. At once a bold defense and reimagining of capitalism and a blueprint for a new system for doing business grounded in a more evolved ethical consciousness, this book provides a new lens for individuals and companies looking to build a more cooperative, humane, and positive future.
JANUARY Sister titles FStech and Retail Systems teamed up to announce the brand new Payments Awards for 2013. This unique event will highlight innovation and best practice within the cards and payments industries from the point of view of retailers, financial services, telcos, payments and technology providers. To find out more visit www.retail-systems.com. High Street camera retailer Jessops went into administration, with Pricewaterhouse- Coopers appointed as the administrator. The administrators said it was ‘inevitable’ that some stores would have to close. In 2009, Jessops managed to avoid administration by agreeing a debt for equity swap with its lender HSBC. Style-passport, a cutting edge fashion retailer specialising in holiday fashion and beauty products, launched a mobile optimised website. The site was designed to expand the retailer’s reach and provide customers with a secure and convenient method to complete transactions via their smartphones. Spar became the latest UK retailer to introduce Amazon collection lockers at various stores across the country. Amazon Lockers allow customers to pick up or return their Amazon orders in-store. The lockers have opened at nine of the grocery retailer’s stores. Spar said it would introduce further lockers in the future. Fashion retailer Coast installed QuailDigital’s lightweight headset communication system in its flagship Oxford Street store. The QD Retail system was specified and supplied by Intrepid <strong>Security</strong>. It is being used by staff across the store for general operational activities including stock replenishment and customer requests. 3D Wayfinder, the provider of 3D personal navigation solutions in large public buildings, launched a mobile application for shoppers which provides maps of all of their favourite shopping centres and up to the minute details of onsite promotions direct to their smartphones. Retail site owners can use this to connect with visitors and generate advertising revenue from tenants. Ingenico reached an agreement in principle with Summit Partners to acquire Ogone for an enterprise value of €360 million euros. This acquisition will strengthen Ingenico’s position, helping them become a ‘one-stop-shop’ provider covering multi-channel payment solutions: point-of-sale, online and mobile. FEBRUARY Cath Kidston strengthened its multi-channel solution from Maginus to help deliver a great customer shopping experience across all their sales channels. Maginus’ solution provides Cath Kidston with a joined up approach to their customers, through online, as well as other touch points such as multi-channel gift vouchers and collection from the store. Lovehoney selected Maxymiser to help increase overall conversion levels and customer engagement throughout their website. The online pureplayer will use multivariate testing (MVT) to help increase engagement levels and conversion rates across the website. River Island and Rocks TV were among the first retailers to sign-up for a new international home delivery service from DPD. DPD Direct is a dedicated businessto-consumer (B2C) home delivery service aimed at reducing not only the cost of international home deliveries, but also the hassle. DPD Direct simplifies all the customs and duty issues for retailers, pro- at a glance at a glance Rounding up all the major retail tech related stories vides a full tracking and returns service and generates in-country notifications for recipients, in their own language. John Lewis announced a live trial of ZBD’s e-paper solution and Pierhouse’s NetTickIT software within its new pop-up shop in Exeter. Several hundred of ZBD’s fully graphic e-paper displays replaced traditional print ticketing to provide customers with product information, pricing, promotions, reviews as well as QR codes in a digital format, all driven by NetTickIT. As part of its multi-channel strategy, Marks & Spencer introduced a Digital Lab. This ‘digital lab’ will allow the retailer to address the fast pace of technological change occurring in retail stores, enabling a more agile development process. Waitrose adopted Brightcove’s Video Cloud platform for its Waitrose TV online video channel. Waitrose TV, launched in Autumn last year, is the first purely food-related online video channel from a retailer, according to Waitrose, and is available across multiple devices including desktops, tablets and smartphones. Tesco announced it was poised to offer Clubcard TV, a TV and film streaming service which their customers can access and use for free. The service, which is exclusively for the supermarket chain’s Clubcard customers, will have thousands of films and TV shows to be played over an internet connection. at a glance RS February - March 2013 RS 43
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