It's extremely disappointing to see another Woolworth's situation unfolding. The demise of another British household name (no pun intended) and 11,000 jobs. The cause is all too clear to consumers and business commentators. BHS hasn't moved with the times - they haven't changed when all around them have. Consumers needs are different than they were just a few years ago. They need mobile, online and the latest fashion and trends and BHS haven't invested in these.
What role have the leadership in this demise? They haven't been agile enough to keep up with the competition. They haven't pioneered a way forward for this famous brand, staying true to its ideals. Have they been transparent with the workforce about the issues? Are they dialled in to their consumers' needs? It doesn't appear so.
Organisations need to be fluid to keep up with pace and complexity of change today. Change attributes such as agility, pioneering, being dialled in and transparent need to be built into organisations if they are to survive, let alone thrive in today's world. Change must be a core competency, starting as usual, with the leadership. For more information on our Liquid Change approach read our latest research into executives view of change https://www.ketchum.com/ro/special-report/liquid-change-study
BHS simply didn't change - or at least didn't change fast enough - while retailers all around them did. Britain has the most competitive and dynamic retail environment in the world, which attracts shoppers globally. Consumers here expect more, and they get more from nimble players such as Primark, Zara and M&S.