When I saw a poster for Groupon in a Shanghai subway this summer, my first reaction was, “What a perfect match!” I love buying Groupons on my iPhone and I thought that the cost-conscious, cellphone-toting Chinese public would too.
And they do. But Groupon has proven that it’s not ready for them.
The company recently announced that it will be “fine tuning” its strategy in China. By that, they mean shuttering many of their 80 Chinese offices, slashing 400 jobs, and dealing with a pending lawsuit from former employees. They may be tuning, but it isn’t fine.
Groupon made a number of blunders in China. Here are three things they will need to do differently to have a shot at success in the future.
Read the entire Groupon article at Fast Company.
Interested in more discussion on this topic? Contact me to receive a recording of my teleseminar “Fantastic Cultural Failures and How You Can Avoid Becoming One.” Develop your cultural agility and improve your leadership skills by learning what not to do. This teleseminar includes current examples such as Barbie and Best Buy.
Success Magazine featured Michelle’s expertise in the article, “American Comebacks.”
Have you felt there have been more than your fair share of hurdles to overcome in meeting goals and creating results this year? There are days it can seem that turning things around in your professional life may be too overwhelming. Even during the toughest times, you can create a comeback for your business and implement a course of action that will be a game-changer for you.
How is it possible to create a comeback? Here are my recommended tips for a comeback as outlined in Success Magazine:
- Don’t go it alone. When things are toughest, many business leaders isolate themselves. That’s precisely the wrong response, since it’s nearly impossible to be creative in a vacuum, says executive coach Michelle Randall. Talk with coaches, mentors and members of your team. “When things do turn around, the leaders who do this have created a more trusted team than ever before,” says Randall, the principal of Enriching Leadership International, a global management consultancy.
- Turn vendors into allies. Ask for more generous terms and programs while always positioning them as being in the vendors’ best interest—because they are.
- Get focused. “People I’ve seen stage successful comebacks were completely focused on the desired outcome. As a result,” Randall says, “they sought any course of action that would get them there.”
To read the remaining tips, click here for the full Success Magazine article.
It’s the first of September, which means that in the blink of an eye, we will begin the 3rd quarter.
Are you happy with the results that all of your efforts this year are creating?
If you’re concerned about the possibility of a renewed recession or even wondering when, exactly, the last one ended, it can make planning tough. Lack of focus or fighting too many fires severely impairs the clarity needed to deliver your best possible results. If you’re feeling some of this, you’re not alone. I’ve been receiving an increased number of requests for help from business leaders who are looking for more out of 2012.
In September I’m introducing a new eBook, “Results Driven Strategy: Transform Results by Integrating Strategy, People and Execution,” to give companies a roadmap to developing a results-based strategy.
Pre-order your copy today to be one of the first to start creating your results driven strategy!
October is strategy season. A solid plan will put you on solid ground for making the most of 2012.