Advice from Tesco

Today at NRF I attended the session "How Leadership, Loyalty, and Transparency Fuel Growth" given by Sir Terry Leahy, CEO of Tesco. Twenty years ago, Tesco was a distant third in the UK market, but after focused execution they are now clear leaders in not only the UK but also across the globe. As a driving factor behind the growth, Sir Terry related Ten Management Lessons from the experience.

Sir Terry.jpg


  1. Find the Truth -- Talk to your customers and listen to their advice.

  2. Audacious Goals -- You'll be surprised what a motivated team can accomplish.

  3. Vision, Value, and Culture -- These are more important than strategy and should emanate from employees.

  4. Follow the Customer -- Watch customers carefully and be ready for change at a moment's notice.

  5. Steering Wheel (balanced scorecard) -- Link the big goals to the smaller goals.

  6. People, Process, Systems -- These must be viewed together, not in isolation.

  7. Lean Thinking -- You can make things better and cheaper.

  8. Competition is Good -- Learn from them before they learn from you.

  9. Simple Beats Complex -- Over-engineering solutions leads to increased costs.

  10. Leadership -- Takes you further than you could go alone.

Sir Terry admits none of these ideas are new, but few companies have the discipline to follow them all like Tesco.

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David Dorf, Sr Director Technology Strategy for Oracle Retail, shares news and ideas about the retail industry with a focus on innovation and emerging technologies.


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