Quote:
Originally Posted by PatNY
Don't misrepresent what I've said. I've never said they should fire coders or low-level staff. I said nothing of the sort.
--Pat
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Sorry if I wasn't clear.
I thought I was agreeing with you that the problem isn't the staff and expanding on why. Wasn't looking to debate you but reinforce you.
And yes, I do think the top execs need to (let) go. Remember B&N is publicly held; the shareholders have the power to fire the top execs even if some of the top execs are owners.
B&N is already under pressure from stockholders who see Nook valued at more than the combined company and want to see a spin-off and IPO but the Riggio family refuses. It is a classic case of the parts being worth more than the whole, compounded by both parts' performance suffering from trying to keep the two together.
At some point even Riggio is going to have to let go and sooner will be better than later. If they enter next holiday season with the same policies and same strategies as the last two... Well, "If you keep on doing what you've been doing, you'll keep on getting what you're getting."
I do think we're in agreement that current management isn't going to magically change the way they see the world and instantly evolve a whole new set of customer-focused policies and strategies, right?
I think that you need different people who are not vested in the current policies and strategies and will whole-heartedly pursue new directions, not because the old ones failed and they need to throw a dart in a different direction, but because they really believe in the new approach.
And time is a constraint; they only have 9 months to diagnose the problem, identify a new approach, and implement it. All while strapped for cash, choked by unsold hardware, and trying to defend their past decisions? Oh, and trying to expand internationally. Against a changing market? That requires people used to working on internet time. That is, tech industry veterans.
And that is just for Nook.
On the B&N side they need to refocus on B&M retail.
Two entirely different missions. For the same set of top managers?
I don't think so: This crisis demands a divorce.