Tom Dougherty, CEO – Stealing Share
10 May 2017
Bon-Ton giving in to sheer insanity
I try keeping my finger on what is going on in the market place. Following a number of different industries I have noticed a disturbing, and expensive trend in business. Confusing personnel with strategy. Bon-Ton is the most recent offender.
What is that you may ask? In short, it is the expectation that the act of changing people will change outcomes.
“Retail certainly has a shitload of problems. Bon-Ton is not the only one stuck in the quagmire of this failing industry.”
Let’s consider advertising agencies, for example. There is a vicious circle of agencies being fired and rehired by a different brand in the same category. You see this all the time in the automotive and restaurant industry. Company A is not happy with its agency so it hires a new one just fired by its closest competitor. In essence, the constant rehash of old worn-out ideas and creative concepts that have already failed will fail again with the new company.
The fundamental strategy never changes. That’s goddamn insane.
Then there’s Bon-Ton
Or, consider Bon-Ton stores. It’s replacing its CEO. A little background. Bon-Ton has been losing money for six straight years, losing more than $60 million last year. Oh, and this will be its fourth CEO since 2012.
Retail certainly has a shitload of problems. Bon-Ton is not the only one stuck in the quagmire of this failing industry. Like the rest of the category, it passes the buck to some other poor sot to fix a problem he or she did not create using tactics that have already failed.
A simple change in personnel does not fundamentally change a damn thing. It doesn’t matter how many mechanics you hire. Your car ain’t getting fixed if you’re using the wrong tools.
This is the problem with the churn and recycling of people mucking up business today. With very few exceptions, these folks are still using the same toolbox as their predecessors.
Companies MUST understand that, in order to succeed or even survive, fundamental change must take place. That does not mean simply firing and rehiring the same people. Doing what you have always done and expecting a different result is, in fact, a sign of insanity.
Better to look for a new toolbox.
Ford Advertising Tom Dougherty, CEO - Stealing Share 23 April 2018 Ford advertising. Find someone new. News that Ford advertising might be leaving advertising giant WPP rocks the advertising world. However, the agency with 49 offices across the world will be allowed...
Sheetz MTO Tom Dougherty, CEO - Stealing Share 19 April 2018 Sheetz MTO process remains sloooooooow I lay it on pretty thick in a post on Sheetz some years ago. For purposes here, I am rescinding a portion of my prior analysis, yet offer up a new critique. You see,...
Amazon Best Buy Tom Dougherty, CEO - Stealing Share 18 April 2018 Who wins the Amazon Best Buy partnership? The recently announced Amazon Best Buy partnership is not the kind of partnership where Best Buy is opening a store within a store on Amazon. Rather, this is a...