In This Episode:
As with many bricks and mortar retailers, business at Marks & Spencer had been suffering in recent years. A new Chairman, a veteran of retail turn-arounds, had been called in with great expectations of success from the board and managers. Little did they know that things would get worse, before they could get better. Join our host Denise Silber as she discusses the way out of the current Covid-accelerated crisis at Marks & Spencer and lessons in turnarounds with fellow HBS alumnus, Archie Norman.
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A Glimpse of What you’ll Learn
How a turn-around leader analyzes problems and stays the course over the years
The usual causes of a failing business
How the Board must shift its responsibility during a crisis
The key steps in managing a major retail crisis
Why retail stores will not be the same, even after the crisis
RESOURCES MENTIONED IN THIS EPISODE
Archie Norman Chairman, Marks & Spencer
Chairman of Marks and Spencer since 2017, Archie Norman, a leading British businessman, has led transformations of major companies, with results ranging from doubling to multiplying by eight the starting value. Archie has served on several other boards and built management teams who are now in leading positions. The only Footsie 100 Chairman to be elected a Member of Parliament, where he served for eight years, Archie was also voted Retailer of the Year and awarded the Institute of Turnaround Professionals Lifetime Achievement Award, as well as honorary doctorates from York and Leeds Metropolitan universities. Archie Norman has an MA from Cambridge University and an MBA from HBS.