Rapid Response: Playing offense in adversity, w/Target’s Brian Cornell
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 11 August 2022
⏱️ 30 minutes
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Summary
The fallout from the pandemic is proving to be as challenging for business leaders to navigate as the pandemic’s onset. Target’s CEO Brian Cornell had to make difficult decisions in the second quarter of this year to manage an unexpected surplus of goods and home technology. He shares his most recent learnings, as well as lessons for handling skepticism, the need for agility, and why mental wellness is key to a successful team.
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Transcript
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| 0:00.0 | Hey listeners, this is Chris Gotier, I'm one of the producers of Masters of Scale. |
| 0:04.8 | I want to tell you about a show from our friends at Harvard Business Review that might help you better understand the world of business. |
| 0:11.0 | It's called HBR IdeaCast. |
| 0:14.0 | Each week, Harvard Business Review editors bring you the world's leading business and management experts. |
| 0:19.3 | But it isn't just another business podcast. |
| 0:21.8 | We think you will find so many connections from IdeaCast to how we hear at Masters of Scale think about scaling our business. |
| 0:29.6 | For instance, they often approach business challenges from contrarian points of view, telling surprising stories, |
| 0:35.5 | like, what can we learn from NASA about managing high-risk projects? |
| 0:40.1 | And what can a comedian teach us about using humor to lead a team? |
| 0:44.8 | Subscribe to HBR IdeaCast on Apple Podcasts or wherever you get your podcasts. |
| 0:50.1 | Now onto the show. |
| 0:52.6 | In an environment like this, flexibility and adaptability and agility is critically important. |
| 0:59.6 | And even as a $100 billion growing company, we're going to make sure that we continue to focus on agility in our systems. |
| 1:08.1 | We just started to see some significant changes in consumer behavior. |
| 1:14.1 | And we recognized that from an inventory standpoint, |
| 1:18.1 | a lot of those pandemic winners were now slowing down. |
| 1:23.1 | I remember waking up really early that morning, preparing to meet with my leadership team. |
| 1:29.1 | Seven, eight hours later, when we walked out of a conference room, we were all aligned. |
| 1:33.6 | And we said, all right, we've got to do the right thing for our guests, the right thing for our brand, the right thing for our team, |
| 1:40.1 | and take some action to clear up that inventory. |
| 1:42.6 | We moved forward and made the announcement. |
| 1:48.6 | That's Brian Cornell, CEO of Mega Retailer Target. |
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