While obviously more successful than most, Luscombe’s management career is not unusual in Australian companies. The eldest of nine children, he studied economics at Monash University while working part-time in a liquor store and an automotive parts wholesaler. His experience in buying and selling, and in dealing with customers, formed a valuable skill set as he moved up from running a Safeway store, to various roles in Woolworths management positions, and eventually national banking manager. His later work in restructuring the supply chain network and freight programs is credited with dramatically widening the performance gap with competitor Coles. He was promoted to manage the supermarkets division, which contributes 80 per cent of group profits. When CEO Corbett retired in 2005, Luscombe was a natural successor. In his future vision for the company, acquisitions are on the agenda, and there are several internal initiatives which will aim to further improve the efficiency and profitability of the company. These include creating an electronic payments processing system to cut costs and to serve as a platform to launch a store credit card, as well as growth into financial services and telecommunications. Luscombe also wants to improve consistency in store standards, and to better understand customer buying habits, through better data mining.
His engaging and cooperative management style will ensure he takes his team with him in whatever direction the board authorizes. The company has a long tradition, which he exemplifies, of attracting talented young staff and training them across a range of disciplines to maintain a source of well-rounded managers. He wants his people to feel engaged, involved and valued. Woolworths shares have risen 40 per cent since Luscombe became CEO.
Questions
1. How much of success of Woolworths depends on the personal skills of Michael Luscombe and his predecessor Roger Corbett?
2. Can Woolworths’ success be used as a model for other companies?
3. Is it all brand attraction or is there something more to the success, and to the management, of Woolworths?
4. Is Woolworths managed according to any theory discernible from the history of management?
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