As M&S announce a large turnaround plan, closing multiple clothes and home stores, they face a tough test of their values and new leadership.
Retail Analyst John Ibbotson said “M&S’s humiliating withdrawal from 10 overseas markets is… a Dunkirk moment for [the] iconic British brand.”
At a time when Brexit is making us redefine Britishness, we are much more attuned to iconic businesses like M&S. For any company, it is times of pressure that show what they really value.
We talk a lot of about the belonging challenges of rapid growth or merger and acquisition: What about the belonging challenges of sudden strategic change, or avoiding near-crisis?
- How do you take employees with you and preserve a sense of belonging over time and especially through tough times?
- How can you uphold the principles of your ethos and heritage, not even, but especially in the hard times?
- What can leaders do in difficult circumstances to uphold a sense of belonging with employees who remain or leave you during change?
- How can deal with tough choices and strategy that appears to be a retreat without throwing away all your beliefs and value?
- How can you effectively communicate changes consistently with your values and ethos, so employees know what is changing, but also what’s the same?