Interview with Sir Stuart Rose

We meet Sir Stuart Rose, former Chairman, Marks & Spencer.

What's the most valuable lesson you've picked up in your career?
Never leave till tomorrow what you could do today.

What's the best decision you've ever made, and the worst?
When I left M&S for the first time in 1989, I didn't realise that I'd look back on it as the best decision I'd made - because, at the time, it seemed disappointing to leave an M&S career that I had believed I could develop further. As it turned out, I subsequently broadened my management experience to mergers and acquisitions and in particular, restructuring and selling businesses like Arcadia to Phillip Green - which led me to be approached to rejoin M&S as CEO to defend against Phillip's bid in 2004.

The worst decision?
Probably, in the context of the credit crunch, not retiring in 2007!

What brand do you most admire and why?
Google. They took a leap of faith, investing in a simple vision of a totally new type of service product - and took consumers with them. They then responded to customer feedback, continuously innovating the product, and executed it with relentless passion and vigour. They also managed to become the dominant brand without succumbing to the arrogance of proprietory consumer software or hardware - or charging consumers a fee - in a field that historically had relied on these levers to drive market dominance. And the brand name seems to be derived from a relevant word that alludes to the 'left field' nature of the service - I like that. What achievement are you most proud of in your career?  Keeping M&S as a Plc by successfully seeing off the takeover bid, and then rebuilding consumer perceptions of the brand. 

Who is your marketing hero and why?
Al Gore. He managed to make a complex issue simple; he engaged the consumer, and motivated leaders worldwide to adopt 'brand Climate' principles and reflecting consumer concerns - which eventually adds brand value. A slightly unusual concept of 'marketing' maybe - but in my view, that's what he did.

What advice would you offer to brand guardians on surviving and thriving in the recession?
Listen to your customers and respond quickly. Be true to your brand values but don't be proud and don't hang on to yesterday's way of doing things. If you do, you may not be around tomorrow.

What advice would you offer to brand guardians on adopting a sustainable business strategy?
Act now and make a simple plan that your teams and your customers can understand. Set clear objectives that are relevant to your business, with measurable, time limited goals. Make it part of the way you do business and not just a special project. Then demonstrate transparently how it is saving you money and making your business more efficient in the long term - even luddites find it difficult to argue against efficiency.

Tell us a secret.
Plan A is profitable!

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