Ron Johnson’s spectacular flame-out as CEO of J.C. Penney will likely make for yet another Harvard case study on how not to run a company.
Critics can point to a long list of gaffes from alienating the customers to poor execution.
Harvard business professor Rob Kaplan tells me the retailer simply did not have the cash on hand to take the kind of risks Mr. Johnson’s plans imposed on the enterprise. It’s a common mistake.
Mr. Johnson came into J.C. Penney as the lauded turnaround artists. He’d achieved amazing success at Target and then at Apple at a time when it was rolling out iPods, iPads and iPhones.
Mr Kaplan has also authored a book I think Mr. Johnson might want to read now that he’s got some time on his hands after stepping down from his post. It’s called “What you’re really meant to do: A Road map for reaching your unique potential.”
It’s a good read for anyone who has achieved success only to lose their way.
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