Mckinsey co

McKinsey Company : Managing Knowledge and Learning 319

A strategic vision is one which is created , communicated , modeled and then inspired to employees to strive to accomplish it . What Steinberg did was but not through sheer planning . So what Steinberg needed to do was strategic formulation and strategic implementation of how to overcome the problem of low sales causing the stores to be closed down . He needed to see what caused the problems in financial resources , physical resources , productivity and human resource

He needed to conduct a business level strategy rather then to

just slash down prices and print hand bills . Employees should have been well informed about the current crisis faced . He should have done contingency planning as that would have kept him alert about the situations he might face in the future and the solutions to mitigate it . He should have prioritized the basic business needs and provides strong leadership Knowing the customers and business challenges is not enough

He should have conducted a business continuity planning . This means that in to continue the business , one must identify the critical functions and processes that are necessary to run the organization Then each critical function or processes should have its own contingency plan in case it fails or ceases- in short a backup plan . This way team members will also act fast and effectively

Candelle was not confronting to change in the environment- the change in people 's...