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Force Field Analysis

Force Field Analysis essentially recognizes that in any situation where change is desired, successful management of that change requires applied *inversion. Here is a brief explanation of this process:

1) Identify the problem
2) Define your objective
3) Identify the forces that support change towards your objective
4) Identify the forces that impede change towards the objective
5) Strategize a solution! This may involve both augmenting or adding to the forces in step 3, and reducing or eliminating the forces in step 4. read more

Posted On : Published By : Shawn Harris
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6. Disruptive Strategy – Terms to Know

This is a term that describes when an incumbent gladly gives up a lower-end part of the market because the company is motivated to move up market. The motivation to flee is most often fueled by higher gross margins. This is often called “flying under the radar”. For more on this term, read here. http://hbswk.hbs.edu/item/the-innovators-battle-plan.

Posted On : Published By : Shawn Harris
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“…most of all: nothing without skin in the game.” ~ Nassim Nicholas Taleb

This."No muscles without strength, friendship without trust, opinion without consequence, change without aesthetics, age without values, life without effort, water without thirst, food without nourishment, love without sacrifice, power without fairness, facts without rigor, statistics without logic, mathematics without proof, teaching without experience, politeness without warmth, values without embodiment, degrees without erudition, militarism without fortitude, progress without civilization, friendship without investment, virtue without risk, probability without ergodicity, wealth without exposure, complication without depth, fluency without content, decision without asymmetry, science without skepticism, religion without tolerance, and, most of all: nothing without skin in the game." ~ Nassim Nicholas Taleb

Posted On : Published By : Shawn Harris
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Quick Take: The Great Decoupling of Retail

There is a great decoupling happening in retail, a structural change. Similar to the decoupling that the computing industry went through, going from being vertically integrated to horizontal specialist. What does this mean for retailers? Retailers need to be clear on what their unique selling proposition is, that is why do customers choose them vs their competitor, or substitute; then double down on those things. Is it your wide assortment, price, convenience, customer service, maybe safety now, or some thing less rational. Everything else should be considered for outsourcing to horizontal specialist, those who are optimized to delivery a particular service, or product.

Within any company, typically the most valuable resources are centered around the making and the selling organizations. There is no difference in retail; instead it’s the merchandising and store operations organizations, and I would add human resources to being core. Most other functions should be evaluated for their need to be an in-house capability.

Posted On : Published By : Shawn Harris
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Do consumers want to follow grocers on social media?

"I think that the key reason people follow retailers and brands on social media is for reasons of lifestyle projection. Either the consumer is living, or wants to live, the brands ideals. For grocers, this would be things like healthy living and sustainability. With the brand ideals as the backdrop, consumers will become sticky if the social feed is educational, informative, entertaining, will save them time and/or money or is otherwise a utility — very much similarly to why consumers want and keep a mobile app installed." ~ Shawn Harris

Posted On : Published By : Shawn Harris
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Digitization and the Retail Revenue Reset #retail #economy #leadership

Retailers are feeling significant pressure as digital takes a greater and greater hold of the industry. Many say that digitization actually brings demonetization. This will result in a massive shift in the share pie for retailers. What once was a great traditional retail business, will become a much smaller primarily online business. I thought I'd take a stab at visualizing that. Thoughts?

Posted On : Published By : Shawn Harris
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Should Zappos take steps into the hospitality world?

"When people talk about Zappos, it’s not just about the great pair of shoes they scored, but the awesome customer service they received. It truly has become a tangible asset that is synonymous with the Zappos brand. In extending the brand to hotels and beyond, the customer satisfaction bar will be set high. Execution will be key to protecting the brand’s equity. Also I could see some Amazon (the parent company) products and services being a part of this." ~Shawn Harris

Posted On : Published By : Shawn Harris
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Is Omnichannel Even Possible?

I believe that 97.5 percent of today's traditional retailers will NOT survive the earthshaking transformation that is currently occurring in their industry. Changes in the customer shopping behavior and preferences, rise of on-line shopping, local and state government push to increase minimum wage, and uncertainty in the global economy have placed quite a few obstacles in front of retailers.

Posted On : Published By : Shawn Harris