The neglected challenge

The neglected challenge

Gerald Ratner, former CEO of jewellery retailer Ratner's is well known for telling a joke during a speech at the London Institute of Directors in 1991. During his presentation he mentioned that he was once asked how Ratner's could sell a particular product so cheaply, and in reply he said,...

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Veröffentlicht in:Training Journal 2016-02, p.37
Hauptverfasser: Casse, Pierre, Heracleous, Loizos
Format: Artikel
Sprache:eng
Schlagworte:
Effectiveness
Employment
Empowerment
Guidelines
Leadership
Roles
Success
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Beschreibung
Zusammenfassung:Gerald Ratner, former CEO of jewellery retailer Ratner's is well known for telling a joke during a speech at the London Institute of Directors in 1991. During his presentation he mentioned that he was once asked how Ratner's could sell a particular product so cheaply, and in reply he said, "Because it's total crap". This 'off-the-cuff ' comment cost the company £0.5 billion in value, and hastened the company's collapse.
ISSN:1465-6523