Welcome to 'The Strategy Session' podcast series. In each episode, our North America Chairman Dennis Shuler will explore current strategy and leadership insights with widely respected business leaders and renowned academics.
There was a time when what used to be called ‘Credit Vetting’ was completed once, when the credit account was opened and the information supplier charged per report. These reports would take a few days to come through and give a very broad non-specific response.
If you were a real ‘belt and braces’ sort of a credit manager may have also requested a bank reference, the response to these would be in a vague code ‘Good for your figure’ or ‘Unable to speak for your figure’ and you may have also requested the 2 trade references, personally I never received a bad one of these given the names and addresses were provided by the prospective customer.
In March 2017 there was a headline in the Daily Mail which said ‘Will Sam the robot kill off the brickie?’ and then 2 weeks later it seemed that Sam the robot was out of a job as a house was ‘printed’ in concrete.
Earlier this year it was reported that a McDonalds restaurant produced a burger to order with no human involvement and a well known high street coffee shop would no longer need Baristas as the latte could be produced by a robot. You wouldn’t even need to order it as it would recognise you as you came into the shop and have your ‘usual’ ready by the time you got to the counter.
In the current business climate where organic growth is predicated on innovation, Dick Seger is a rarity in that he has demonstrated the ability to build, encourage and sustain, remarkably innovative businesses. We have the pleasure of hearing from Dick, where he shares his belief in the ‘spirit’ that lies within each of us to dream and achieve far beyond what we might believe to be possible. Testament to that must be the fact that Verisure comprised of 6 people Dick co-founded the company in 1988, reaching a population of 10,000 at the end of his tenure...
We are delighted to welcome Liv Cardell for this version of The Strategy Session where she meets with our very own Dennis Shuler in Malmo, Sweden. Liv illustrates the path to setting up her own business, harnessing the driving force of curiosity and being an ‘organisational farmer’ – “you can’t make culture theoretical, you have to live it and cultivate it every day” – making the complex, simple.
There is no doubt that Credit Professionals have a new found confidence, not least as a profession (at last gaining the recognition of becoming a Chartered Institute in the UK) but let's not forget the cross-roads we have encountered at times, namely in 2008 and previous to that during the ‘Dotcom Crash’. The credit management professionals that took advantage of these momentous events have prospered and developed, demonstrating to their businesses the value that a professional credit manager can bring. Speaking at an institute conference some years ago I mentioned that the credit crunch was an opportunity not to be missed. There is another major event looming too...
Gavin Patterson generously shares his experiences and insights with us, including the 75% of the job you don't know about before becoming a CEO and many more. He notes, "Ultimately good strategy is about making choices... then it's about executing. I've seen plenty of great strategies that have gone nowhere, because people haven't been able to execute them due to capability... It's about a balance between the two." We completely agree. Vision into Action.