The Thoughts of Ghairman Bob

Despite daily battles with Home Depot and expanding his company westward, Robert L. Tillman, chairman, president and ceo of Lowe's Companies, somehow found time to write a piece for Texas A&M University's Center For Retailing Studies. In it, he sets out six attributes of success in retailing.

The first is flexibility. He says, "It means keeping your finger on the pulse of the competitive landscape, monitoring changing consumer trends, understanding what's happening in the world economy-how all of these changes will affect you and your store."

Second is decisiveness. According to Tillman, "Doing the right thing for the customer is ultimately the right thing for the business, and so retailers must act with a sense of urgency."

He says analytical skills give you the confidence to act decisively. "Use all the tools at your disposal combined with your own judgment and intelligence to make informed decisions. Above all, you have to avoid paralysis by analysis."

Fourth is snnina. "Knowing how to pick your battles, determining which issues are most important and need your immediate attention, and which can be delegated. When you're in the store, however, you need to give llo% effort to your customers and employees because they deserve nothing less."

Next to last is creativity. "The secret to true innovation lies not in doing things just to be different but in doing things to be better. Consider ideas from wherever they come, and remember, as Victor Hugo said, 'An invasion of armies can be resisted, but not an idea whose time has come."'

Tillman suggests that interpersozal skills may be the most important factor. "You have to like people-customers, employees, vendors and sup pliers-because you'll be dealing with them every second of the day. You have to value your people and demonstrate you care. Develop an understanding of customer wants and needs and be prepared to satisfy them. Interact effectively outside the store, remembering that you represent your company at all times."