Allegedly, between 30% and 70% of customer relationship management (costly) fails. So why not plunge into so-called immersion (cheap) to win over customers? Sean Meehan and Charlie Dawson, in Business Strategy Review, report that Tesco directors visit stores three days each week, while Sainsbury's CEO Peter Davis 'spends most Fridays in stores' (sporting a badge for identification). At Shire Pharmaceuticals, bosses watch professors of surgery operate for the same reason: to garner customer knowledge at first hand. It's not the initial immersion that pays, but the follow-up. How that works at Bank of Scotland is unclear: directors supposedly immerse themselves in the homeless bible, The Big Issue. Courting the no-time buyer?
There is a moral dimension to business, but you can take it too far.
In our second Changing Lanes podcast, we talk to people who have successfully pivoted their career by pursuing further study, finding a mentor or taking a sabbatical.
The law is changing so that parents who have lost a child will be entitled to take paid leave.
How a can of dog food inspired a $100m business.
Recognising there's a problem is only half the battle.
Do your research and be prepared to walk away if the deal doesn't feel right.