6 Recession Strategies From Staples' CEO

SUMMARY:

This article is about the main 6 strategies that Staples has been using in their business. It explains the benefits of the procedures aswell as how they execute them. The 6 steps seem crucial towards the business' success, as it has kept them progressing through good times and bad. The first step of the 6 strategies, is to: Get everyone at the company personally invested in your success.

This involves motivating your company to excel at what they can do. Like become entrepreneurs at a young age, or run their own store. Making your company feel empowered is definentley a positive thing.

The second step is to:Take small, steady steps, not giant, risky leaps.

Basically this step is all about not taking too giant of a risk, and to always keep the good of the company in mind. Taking smaller steps is more benificial than taking a gigantic leap. You never know what could possibly go wrong.

The third step is to:Fill up the gas tank so you're ready to hit the road when business comes back.

Even though economy is slow, doesn't mean you should close down some of your businesses. Take the chance and grab hold of shares while you can, so that when the economy speeds up, you'll be set. Personally I think this is a smart step.

There are 3 more strategies left, so to sum it all up together i'm going to tell you that this approach to the business is complete genius.

Connections:

I chose to write about this article because it made perfect sense to me. At first when i read the title, i had no interest in it whatsoever. But after actually reading it, i could really see how successful Staples had become. But it's not becasue of their success that intriuged me, it was how they got there. I truly think Staples is a giant retailing genius, i believe that what they do is right. And also incredibly smart. Their strategy is not only getting them to where they want to go ( which is everywhere ) but also getting them a huge profit margin.

Personal Reflection:

Keep up the good work Staples! Who do you think i went to this school year to get all of my supplies? It really was easy. It was a huge warehouse, but full of good products that i could rely on to be there. I didn't even have to think twice, and why should I?