It takes 20 years to build a reputation
More organisations should take that advice.
…and 5 minutes to ruin it.
This quote from Warren Buffet hit home for me recently. I’m only 10 years in and well aware of how much more work there is to do, but one false move and I could quickly destroy what I’ve built so far.
More organisations should take that advice. Laura Ashley, the textile design company has destroyed its 67 year old reputation by reporting that it has run out of money.
Change has to be a fundamental part of business strategy and the ability to grow, sometimes shrink and take on new growth opportunities is the new normal.
Look at fashion retailer Zara, the world’s largest apparel seller, gets new styles to market in 2-4 weeks. To do so, it uses a cross-functional, integrated organisation to accelerate decision-making and eliminate delays in functional handoffs.
Design, procurement, manufacturing, and delivery are all organised into teams that work closely with store managers to quicken responsiveness to shifting market trends.
Be more Zara!
Originally from my weekly newsletter issue #149
