Businesses need strong leadership to weather economic downturns. During the National Retail Federation’s 98th Annual Convention & Expo, executives offered a variety of ideas on leadership and inspiration.
Among the advice offered to help you thrive in leadership:
- Don’t Panic: “We have to hone in on the issues. We have to remain positive, we have to stay focused and keep the team focused on the issues at hand,” said Burt Tansky, CEO of Neiman Marcus.
Communicate: “To have people holding hands and approaching the challenges of this economy together -- knowing that they know everything the board room knows -- is magical in times like this,” said Kip Tindell of The Container Store.
Stay True To Your Brand: Noting that Neiman Marcus has spent 100 years defining itself, Tansky said current events are not a signal to change. “You don’t spend that much time developing a brand and let it drop or change because of a crisis,” he said. Other executives on the panel agreed that this isn’t the time to abandon what made their companies strong in the first place.
Cultivate Trust: “Your organization will follow you, if they trust you,” said Roger Farah of Polo Ralph Lauren. “Trust is defined by knowing you’ve been thoughtful, knowing that you’ve evaluated the issues, and you’re making the decisions that are in the best interest of the organization, then fairly executing them so everybody is contributing.”
Take The Tip:
For more ideas from the Expo session, click here to read: “Retail Execs Offer Insights on Leadership in Tough Economic Times.”
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