Don’t often comment about the mainstream corporate world…
…but last week saw the surprise announcement that Sir Terry Leahy would step down as the chief executive of Tesco next March.
I’ve made no secret of my admiration for Sir Terry and Tesco’s in previous posts.
By any standards, Sir Terry’s tenure has been an outstanding success as detailed in these articles…
Terry Leahy always been first and foremost a marketer. The lessons to be taken from his success…
“The recipe for Tesco’s success under Sir Terry can be summed up in three words: follow the customer…Sir Terry has made it his obsession during the last 13 years to give shoppers what they want at the price they want it”
It sounds deceptively simple but…
“In practice this meant analysing shoppers’ buying habits (using Tesco’s Clubcard that Sir Terry was instrumental in launching), procuring and delivering the products as efficiently as possible, and investing the profits gained from large sales volumes into further price cuts. This was replicated on a global scale.”
In other words, doing the simple things well with a relentless focus on the details…
…with it all starting with the customer.
In business and marketing, it’s all too easy to get distracted with fads and the latest “shiny object”. The success of Terry Leahy and Tesco is an object lesson in the rewards of focus and commitment.