Goyder says Australian retailing is showing signs of marginal improvement amid a fragile global economy.
“Australian consumers are very cautious; they shop with purpose, but they haven’t gone on strike,” he says. “There’s also a degree of confidence emanating in the United States.
“The best thing coming out of Europe at the moment is no bad news. But because European economies are fragile, we all should be prepared for some bad news from time-to-time.”
Goyder says an effective internet strategy is vital to attracting more customers as online shopping is growing by the day. But an internet strategy needs to be specifically targeted and offer top value to tempt browsers to buy from “you”.
Q: What is your favourite source of leadership inspiration and ideas?
A: The most inspiring leader I think is Nelson Mandela for the way he dealt with adversity and then led. My favourite source is great sporting stories, where people show courage and boldness.
Q: What is the one thing a leader should never do or say?
A: I don’t think leaders should show arrogance or hubris. If you think you’re better than you are, someone will come along and whack you.
Q: What two elements are critical to achieving change?
A: A recognition that it needs to happen. And then put good people in place to make it happen.
Q: What was the worst moment of your career, and what did you learn?
A: It was at a Wesfarmers AGM only a few years ago. And that’s when the world was worried about debt refinancing and our share price that day went down to about $18. And it was Trevor Eastwood’s last meeting as chairman. He had also been CEO at one stage and spent a working lifetime at Wesfarmers. His career should have been celebrated and it was, but it was a pretty lousy day because our share price was hammered. I felt really bad for Trevor that day. There were these storm clouds around and there wasn’t an opportunity to thank Trevor enough for everything he had done.
Q: What important qualities do you look for in your direct reports?
A: Commerciality. People who have a good understanding of the commercial impact from the decisions they make.
Q: What makes a workforce productive or more productive?
A: Probably a good culture. A culture, where people actually want to put in for their work colleagues and the organisation. I reckon that’s the key.
Anthony Black is a long-standing finance journalist who worked in newspapers for 23 years. He was Sunday Herald Sun finance editor for about eight years and his reports were syndicated in News Limited papers across Australia. Since 2008, he has been a freelance finance writer and a public relations consultant. anthonyblack3@bigpond.com
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