November 28, 2017

Company DNA Is Hard To Change

Each component of this equation has a time lag associated with it.

You can change your Actions tomorrow (I know of CEOs who changed their Cyber Monday strategy at 8:30am after seeing what the competition did).

Customer Expectations change over the mid-term. The customer sees your discount strategy via email campaigns and compares it to what everybody else does and then shops Amazon and all of those things impact Customer Expectations. Over time.

DNA changes glacially.

DNA hates change, and for good reason.

DNA "can" change over time - via mutations, right?

Amazon comes around ... a true mutation ... a mutation twenty-years in the making. Look at how slow we've been to change in response to a brand that's been in our face for two decades!

Here's what I've learned ... you don't change the DNA of a company by asking a company to change their Actions. You have to change the DNA of the company - and that takes time.

P.S.: If Macy's is valued at a bit more than six billion dollars and Macy's real estate is valued at a bit more than sixteen billion dollars, does that suggest that the retail operations are worth a negative ten billion dollars (click here)? That's what the omnichannel thesis that you were told by vendors / trade journalists / consultants / researchers / pundits that you had to execute bought you. Multi-channel / omnichannel nonsense is not what is right for you. At all. Do what is right for your business, not what is right for those who support your business.

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