What Will We Learn From Ron Johnson's Mistake?
The lessons that have emerged from Ron Johnson's tumultuous 17-month tenure at JC Penney are of great relevance to all of us - any company, any management team, leaders who need to innovate their business model.
Join the discussion below, or Read more at Forbes.com.
#1 May 8, 2013
Not to hire in a Born to the Manor CEO, who went to work in retail because it was easier than Wall Street, worked tokenly with his Harvard MBA as a stocker, who claims his job where he gets his greatest claim to fame was just a hobby, a middle age man who dresses, mimics a pimple faced geek, who most likely never shopped a JCPennys or a Macy's in his life? Not to hire a CEO that can not understand why shoppers want choice, can not understand why everyone doesn't shops blindly on brand, you know it it is a Rolex, or nothing, or spends more than they make, addicted to cheap chic.
Don't hire a CEO who fires anyone and all if you tell him anything he doesn't want to here. Don't allow a CEO a blank check to hire his old cronies, don't hire a CEO who doesn't cut back his own perks even when he knows the ship is sinking.
Don't hire a CEO who name calls, hires yes men who add to the name calling, reduce your staff to 30 or less hours, no health care, Bangladesh sweatshop cannon fodder, you have enough of these making Joe Fresh.
Since: Mar 13
#2 May 8, 2013
The REAL lesson, hedge fund managers are not retailers and never will be....
I hope penneys survives, but theres a part of me that wants to see Penneys go down in red ink flames, so Ackman looses his shirt.
Such a grand failure will keep future hedge fund financiers OUT of retail, for fear of ron johnsoning another company...
Ron killed JCP quickly, while eddie lampert at sears has milked all the bucks out of sears / k mart. Their stores look like a trash dump, so eddie can keep more money in his pocket.
Both of these IDIOTS need major failures so others like them quit killing companies.
Still I very much HOPE penneys survives! But ron should of been fired at least 6 months earlier. Or ideally never hired at all!
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