Radio Shack’s Failures Are Best Buy’s Lessons

brand-as-business bit:  Hindsight is 20/20.

Nowhere is this more apparent than in the history books of failed brands.  Julian Day, RadioShack’s former Chairman-CEO, probably has a few regrets.  Although Day has been out of RadioShack’s hot seat for a year, his leadership marked the beginning of the brand’s demise.

With Best Buy fighting for its life now, I bet Day has some words of advice for the company’s current interim CEO, Mike Mikan.  I suspect he’d warn Mikan about several brand pitfalls.  My latest OPEN Forum column outlines the advice I think he’d give, including “customers aren’t always right.”

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  • jklds

    Julian Day might have had money management experience, but his tenure with Radio Shack was the perfect example of total and absolute incompetence. His management team was top heavy with people from failed and failing companies like Blockbuster. Day and his hand-picked successor, Jim Gooch, came from Kmart/Sears and both were disciples of Eddie Lambert who has slowly been killing Sears with his own incompetence in retail.

    Day even tried 2x to sell Radioshack and no one would bite. He directed his team to get rid of experienced tenured personnel and tired to turn the company into Cell Phone shack, which failed miserably after driving away loyal core customer. In addition, because of his lack of retail competence and the incompetence of his “team”, they drove prices up instead of staying competitive with lower prices and experienced service.