Execution

excellence.
Impress
customers.
Deliver results.
 Talk to
2
Boxwood.
Execution excellence
Introduction
“There’s nothing wrong with 90% of strategy papers – it’s the
execution that fails.”
Andrew Jennings, Global Retail Advisor and Board Member,
formerly CEO of Karstadt, Woolworths RSA, Holt Renfrew, House of Fraser

Creating an effective strategy isn’t easy, but it is relatively

logical and straightforward. Getting your organisation to
consistently execute the fantastic customer proposition
that your strategy contains is, however, another story. To a
large extent, this has always been true. However, the world

Over 60% of the

has changed in recent times and execution excellence has
become a whole lot more difficult to achieve.
Past success is not a guide to the future either. No-one
would dispute that Apple’s retail strategy and execution has
been a huge success. In 2011, when Ron Johnson – credited
senior managers
with creating that Apple retail experience – left to join JC
Penney, Apple stores were generating twice as much per
they surveyed
square metre as Tiffany’s, their nearest global competitor.
Johnson joined J C Penney in the hope that he would bring
felt that their
some of his retail magic dust, sprinkle it over their strategy
and revitalise the business. Johnson failed and the reason,
organisations
according to principal shareholder Bill Ackman, was that
the strategy execution was ‘very close to a disaster.’
struggled to bridge
A survey by the Economist Intelligence Unit revealed that the gap between
formulation and
over 60% of the senior managers they surveyed felt that
their organisations struggled to bridge the gap between

execution of
formulation and execution of strategy. Our own experience
of working with organisations to deliver execution

strategy.
excellence echoes these statistics. In fact, we would
suggest that 60% is a conservative figure.
In this white paper, we explore why it is now even more
difficult to execute a customer proposition excellently and
consistently. We discuss how to overcome the obstacles
and deliver a consistent, profitable and differentiated
customer experience.

Execution excellence 3
4 Execution excellence
Our methodology
We conducted more than 50 interviews within our global retail network, representing all sectors of retail, large and
smaller companies. We complemented the insight from these interviews with desktop research and case studies related to
execution excellence. We then added our own insight gained from many years of experience working with CEOs and their
teams on large-scale business transformation programmes. The resulting paper is intended to help leaders change how
their organisations work so they meet or exceed customer expectations every time and, most importantly, make money
while doing so!

“We must be agile in our “Brand equity has diminished

thoughts and plans.” – customers only loyalty is
Ferry den Hoed, former COO of Etam Group to value.”
Leo Crawford, Chairman of SPAR Ireland
and Group CEO of BWG Group

“Next has great “Speeches alone

product but its will not change
consistent excellent behaviour. Involving
execution helps your employees
differentiate it.” through a group dynamic
Mike Shearwood, CEO of Karen Millen process will help embed a
positive cultural change.”
Prof. Manfred Maus, Founder and former Chairman of OBI DIY

Execution excellence 5
6 Execution excellence
What’s changed?
So why has it become more difficult in the last few years to achieve execution excellence? There are a number of macro
trends that have made life harder:

1. Complexity – Consumers want the ‘martini’ 5. Game changing competition – This

shopping experience – ‘anytime, anywhere, anyhow…’ – is most acute in grocery retailing with the rise of the
and this means that the front end of the business needs discounters, premium and online players, but similar
to be able to cope with a wide variety of consumer needs. trends are also playing out in fashion (ASOS, Net A
The biggest driver of complexity is consumers expecting Porter, Primark) and general merchandise (Amazon).
a seamless ‘omni-channel’ experience. A survey by Customers’ perception of what constitutes value and
Forrester on omni-channel trends revealed that 56% expectations on convenience have changed for ever.
of consumers have used their mobile devices to search
for products at home, 38% have used a mobile device to
6. Millenials mindset – The new generation
of retail workers on the frontline have different
check available stock on their way to a store and 34%
expectations around self-determination, development
have used their mobile devices in store to research
and work-life balance. They will only remain loyal if they
products. To cope with increasingly complex consumer
are adequately challenged, fulfilled and rewarded.
demands, employees need to be empowered and skilled
to deal with it. The old ‘command and control’ retail
philosophy cannot cope with this new world.
2. Trust – This has changed from trust in a brand to
trusting communities of like-minded consumers – think “In-depth data analysis
Amazon reviews, the ASOS social media community
etc. According to research conducted in 2013 by conducted ‘automatically
Dimensional Research, 90% of customers say buying and ubiquitously’ to
decisions are influenced by online reviews. Customers
trust strangers’ product reviews more than brands. understand what and
Competing in this new environment needs an ever where a customer will
evolving value proposition to stay relevant, a significant
consumer engagement capability and an open, purchase a product is the
transparent mind-set. future of retailing.”
3. Technology – Specifically, mobile commerce and Sebastian James, CEO of Dixons Carphone
big data. This has transformed both how consumers
interface with your business and how decisions are taken
internally. As a result, the capabilities your business
requires to survive and thrive have fundamentally
changed.
4. The global recession – As a result of the
downturn most organisations have cut back on people.
As the volume and complexity of transactions rise
“Brand equity has
(without the corresponding rise in margin), the rise diminished – customers
in activity required is not matched by investment in
resource and organisations are even more stretched
only loyalty is to value.”
than usual. Capacity to execute change or even business Leo Crawford, Chairman of SPAR Ireland and
as usual is often non-existent. Group CEO of BWG Group

Execution excellence 7
 The keys to
execution excellence
So, what does all this mean for the execution of your
customer proposition? Well, when it comes to execution
excellence there are four essential elements that hold the
keys to success:

1 2 3 4
Relevant Inspirational Effective Agile change
customer leadership operating capability
proposition model

Evolving your offer and How leaders mobilise How you organise and run The ability to execute
go to market approach their people to deliver the your business to ensure change successfully in
so that it stays relevant, proposition at its best, that you are effective, today’s complex, capacity
differentiated and sticky every time efficient and profitable constrained world

These elements have always been important when it comes

to excellent execution. However, the macro trends just
described mean that the emphasis within each element has
shifted and some new techniques are required to deliver a
consistent customer experience profitably. We are calling
these the ‘New Truths’.

8 Execution excellence
The truths
The table below summarises where old truths still apply for each element, where tried and trusted techniques are now even
more important than in the past and what new approaches are required to be successful.

Old truths Even more true New truths

Customer
value
proposition

Product centric Customer centric Community centric

Leadership
style

Visionary Engaging Empowering

Operating
model

Relentless focus Complexity capable Data enabled

Change
capability

Less is more Place your bets Agile

We explore the shifting emphasis in each of these elements in turn, starting with the customer value proposition.

Execution excellence 9
 Customer value
proposition
The customer value proposition is why consumers buy from you. What attracts people to
your brand or offer? Why is it relevant, different and compelling? Is it just price or range,
or is there something extra that customers connect with and gives you the edge? What is a
hygiene factor that all your competitors can do and what really makes the difference?
The ability to evolve your core customer value proposition to stay relevant and attractive
to your current and future customers lies at the heart of any consumer facing business.
The speed of change required and range of tools in your armoury to achieve this goal has
increased dramatically.

Old truths Product centric

Product will always be the core of a customer value
proposition. If the range, quality, design and value is not
compelling, any retailer will struggle to be successful.
proposition

However, having a great product is no longer enough. It’s

Customer

become a given, rather than a USP.

value

“To succeed great product is a

given, it always has been… but
today to win you have to also
deliver a service proposition
that’s second to none.”
Liz Evans, CEO of Oasis and Warehouse
 

10 Execution excellence
 Even more true Consumer centric
In the last few years, consumer expectations have changed.
Consumers want a great product, and they want to purchase
it anytime, anywhere and on any device. In addition to that,
proposition

they want to customise their products and they want to make

Customer

informed decisions about what they buy. All this drives the
value

need for convenience, personalisation and transparency.

Amazon have long been leaders in providing convenience
with one-click technology and next day delivery.
Convenience tomorrow will be driven by different
technology and expectations – Apple, for example, are
heading the trend towards digital payments through Apple
Pay. Within this decade, the need to carry money around
could become obsolete.
A recent survey by Intent HQ found that more than half of
Britain’s social media users are willing to share personal
“Delighting the customer. information to receive personalised content. In a world where
we are surrounded by choice, and sometimes overwhelmed
Start with that philosophy.” by that choice, perhaps it’s no surprise that there is a
growing trend towards niche, personalised products.
David Tyler, Chairman of J Sainsbury PLC
Another implication of being consumer centric is the
 
importance of building trust with your customers. When it
comes to transparency, as Alan Giles, former Chairman of
Fat Face pointed out, “Any dirty secret you have will come
out. Might as well be transparent.”
We live in a world where what you say and do can ‘go viral’
within minutes. With instant access to information about not
“Transparency, radical just pricing, but about how ethically sourced your products
are and how you treated Joe Bloggs in store, you need to
transparency – whatever know what your customers expect of you and make sure you
you do is out there forever.” meet, if not exceed, those expectations. With greater access to
information, customers are able to make informed decisions
Paul Allen, CFO of Monsoon  about which retailers they can trust.

Execution excellence 11
 New truths Community centric
The issue of trust leads us on to communities. Where before
consumers placed their trust in the brand message, they
are now more likely to place their trust in communities
proposition

of like-minded consumers. For some brands, especially

Customer

fashion, the ability to tap into this emphasis on communities

value

will have a huge impact on how effectively organisations

execute their customer proposition.
ASOS* has built an online community, which embraces a
fashion lifestyle; tweeting, blogging, living and breathing
fashion. It draws its target twenty something years+
consumers into its community, offers them a blend of content
and products and encourages them to participate, making
money from their involvement. Through a skilful use of social
media, the boundaries between consumer and employee are
blurred as ASOS incorporates its consumer community into
its operating model.
“The brand is now in the Whilst we believe that fashion is where this trend will be
hands of the consumer: most important, you don’t have to be a fashion retailer to
they can shape opinion.” build a community around your brand. Heinz is a great
example of a company offering personalisation to a
Liz Evans, CEO of Oasis and Warehouse  community of its consumers on Facebook. Their ‘Get Well
Campaign’ enabled a consumer, via a Facebook app, to
choose a soup can, personalise it and deliver it to an ill
friend. The campaign started within their loyal community
of consumers and spread, via those consumers in other
communities, to a huge networked community of users.
More than 96,000 people logged into Facebook to view the
campaign, which reached 26 million people.
Whether you follow the ASOS route and create a
community of consumers within your operating model, or
whether you choose to build a community as an extension
of your brand marketing like Heinz, or simply find ways to
tap into existing communities, the choice is yours, but it’s a
choice you need to make. It is no longer an option to treat
your consumers as unconnected individuals. The majority
of them will be part of an online community somewhere,
where they can become powerful advocates of your brand
or equally powerful detractors.
As Liz Evans says, the marketers used to be the guardians
of the brand, but “the brand is now in the hands of the
consumer: they can shape opinion.”

12 Execution excellence * Reference: Boxwood Insights - The 4 As series 2014

Leadership
style
The critical leadership challenge is to get the right people galvanised around a clear, compelling
vision. It’s never been harder. Customer needs are more complex, employees are more
demanding, consumer trust and loyalty has to be won against intense competition, and to round
it all off, recent years of tough trading conditions have left many employees exhausted and with
limited capacity for new initiatives. It’s no longer enough to have a vision in this climate, you need
to empower your people to take accountability for executing that vision.

Old truths Visionary

Steve Jobs was a visionary. He took Apple from an idea, to a
quirky alternative to a desktop PC, to an ecosystem of devices
and services which have literally changed the world. On a
retreat with his team in 1982, he famously pulled out a device
Leadership

that was about the size of a desk diary and asked, ‘Do you
style

want to see something neat?’ It turned out to be a mock-up

of a computer that could fit on your lap, with a keyboard and
screen hinged together like a notebook. ‘This is my dream of
what we will be making in the mid-to-late eighties.’
These days, having a vision and expecting people to follow
you, because you know best, won’t get you very far.  

“Speeches alone will not

change behaviour. Involving
your employees through a
group dynamic process will
help embed a positive cultural
change.”
Prof. Manfred Maus, Founder and former Chairman of OBI DIY 

Execution excellence 13
 Even more true Engaging
Involving your people starts with engagement. It has always
been true that every great leader needs a clear, compelling
vision and the natural progression from that, is engaging
your people to execute that vision. Engagement has been
Leadership

around as a leadership buzzword for a while, but it’s not

style

something that’s easy to achieve. A 2013 Gallup poll found

that only 13% of employees worldwide are engaged at work.
Effective leaders need to find ways to make an emotional
connection with their employees, to help them to buy into
their vision. Nobel prize winner, Daniel Kahneman, who
specializes in research into human judgement and decision-
making under uncertainty, claims that people who buy in
to an idea are 3-4 times more likely to implement it. Our
own work within organisations reinforces this viewpoint.
Failure to get this buy-in nearly always leads to failure
to implement your vision. As Andrew Jennings said,
“Sometimes the enemy is “Sometimes the enemy is not outside the business, it’s
not outside the business, it’s inside the business.”

inside the business.” It is often said that organisations don’t change, people
change. Leaders need to focus not only on WHAT needs to
Andrew Jennings, Global Retail Advisor and Board be done, but also on the WHO. Stakeholder engagement
Member, formerly CEO of Karstadt, Woolworths RSA, results from an approach that actively utilises two-way
Holt Renfrew, House of Fraser communication channels, training that supports the desired
learning and performance management that aligns with the
desired behaviours.

“Retailers today require a

big vision that contemplates
far more than “what are you
here to sell me today?”
Henry Stupp, CEO of Cherokee 

14 Execution excellence
 New truths Empowering
If engagement is about getting your people to care about the
vision, empowerment is about sharing accountability with
your people to implement the vision. The only way to deal
with the complexity and demands of the modern consumer
Leadership

is to empower your people to take ownership for the

style

execution of your customer proposition.

Empowerment is not just about sharing accountability for
the skilful execution of your vision. You must also underpin
that accountability by providing the tools and the support
to enable a consistent and excellent execution of your
customer proposition across the business. Consider the
very best football teams: the captain – leader – is on the
pitch with the team and every team member has shared
accountability, supported by the right skills, training and
support, to win the match.

“Delegate responsibility as Alex Gourlay, Executive VP, Walgreens Boots Alliance,

compares an engaged and high performing workforce today
low as you can. Empowerment to a football team: “You are competing on a global stage now
makes life much more with extraordinary capable people. It’s not just about winning
the Premiership, you are competing in the Champions League,
satisfying. This would not playing against the AC Milans and Real Madrids of the world –
have been done by you must be one fantastic team, playing total football.”

yesterday’s leaders.” Leaders need to care passionately about their business

and dare to empower their people to help them to achieve
David Tyler, Chairman of Sainsbury’s  their vision. We call these ‘care and dare’ leaders. They are
passionate about their business, the people who work in it
and the customers they serve. They demonstrate that passion
every day in how they act, what they do and the impact they
have on everyone they touch. Their passion means they are
also prepared to dare: they dare to challenge old, accepted
ways of doing things, to set stretching targets, to hold people to
account and to take a few carefully calculated risks to achieve
their vision for the business.

“Make them feel good about These leaders need to strike the balance between expecting
shared accountability and ensuring everyone is delivering
their job. Make a hero of them. a consistent experience. As David Tyler, Chairman of
Give them accountability.” Sainsbury’s says, “You need consistency, you can’t have
everyone doing their own thing.”
Senator Feargal Quinn, Founder of Superquinn 
To achieve consistency, capability development and
performance management is critical: people need to know
what to do, when they are meeting expectations and, more
importantly, when they are not. KPIs need to be clearly linked
to the overall vision and cascaded throughout the organisation.
A clear set of values will help to guide decisions and actions.
An empowering leader will live, breathe and guard the values
through their own actions and motivate others to do the same.
As Senator Feargal Quinn, Founder of SuperQuinn, says,
“Make them feel good about their job. Make a hero of them.
Give them accountability.”

Execution excellence 15
 Operating
model
Your operating model is the combination of roles, skills, structures, processes, assets and
technologies which enable your organisation to deliver its customer value proposition. It is
the organisational construct which determines how and where work gets done. Excellent
execution requires people to translate ideas and customer strategies into what it means for
them in their area of the business. This is where the operating model comes in.

Old truths Relentless focus

Aldi’s* focus on operational excellence delivers its strategy
of offering consistently low prices. Every aspect of Aldi’s
operating model is designed to deliver value at low prices:
from the standard layout of the stores, to the limited
Operating

choice within product ranges, to the culture of continuous

model

improvement. Aldi has a relentless focus on low cost, in

everything that it does. That consistency means that both
staff and consumers know what to expect and trust the
brand. When you have a relatively simple proposition, having
a relentless focus works. The complexity of today’s world
means that this is increasingly rare.
 

16 Execution excellence * Reference: Boxwood Insights - The 4 As series 2014

 Even more true Complexity capable
Retailers used to just have stores, they then added call
centres. Now they have multiple channels in which to sell
and market their products. They also have consumers
who demand transparency, value for money and even
Operating

personalisation. We operate in a far more complex

model

environment than we used to, and that inevitably means

complexity creeping into our organisations.
Complexity often gets a bad press, particularly with the
growth in ‘lean’ programmes. However, there is a difference
between complexity which gets in the way of the day-to-
day running of the organisation, i.e. chaos, and complexity
which delivers value to your customer. The former needs
bringing under control, and introducing lean principles and
techniques is an excellent way of achieving that. The latter
needs to be managed tightly, delivering the right level of
complexity for your organisation.

“The more complex you The key is to keep the complexity outside the organisation
and not allow it to destroy efficiency inside the organisation.
allow it to be internally, the Operating models need to be designed to cope with
harder it is to execute well.” complexity; they shouldn’t be over-simplified otherwise the
consumer will go elsewhere, where their multitude of needs
David Thatcher, Group Chief Executive of Direct Wines can be met.
 

Execution excellence 17
 New truths Data enabled
Complexity has taken on a new twist with the explosion
of data. We are surrounded by data. Big Data includes
structured and unstructured data; structured data includes
things such as company sales reports, and unstructured
Operating

data includes things such as Facebook and Twitter posts.

model

Every day an average of 500 million messages are posted

on Twitter. The rapid adoption of connected devices (phones,
iPad etc.) is having a massive impact on the volume of data
being generated. In fact, Intel estimates that the number
of connected devices equalled the world’s population in
2012. This number is expected to reach double the world’s
population by 2015. The IDC estimate that by 2020, the
‘digital universe’ will be 40 trillion gigabytes.
Why does it matter? Speaking at a BRC event in 2014,
Sebastian James, CEO of Dixons Carphone said that, “the most
important skill in retail for the future is processing that data,
“Understanding the data and inventing tools to manage that data and above all placing and
translating that into proper contextualising that data.” Making sense of customers’ online
history, social media activity and ecommerce patterns will
actionable information is be the key focus for retailers in the coming years he argued,
more important now than before adding that a maths driven workforce can “convert this
wealth of data into true behaviours that speak to us about what
it ever was. It’s what gives customers really want.”
you capabilities to do things Retail intuition needs to be enhanced by people with maths
that are meaningful for large PhDs. A singular focus is no longer enough. To survive in
today’s environment, retailers need to harness data to help
groups of customers while at prioritise and make informed decisions. This ability needs to
least giving the impression be built into the operating model and become the way that
you do business. By doing this, as Sebastian James said,
that you’re not ignoring those “New niche ways to anticipate, excite and entice customers
that are on the fringes.” will evolve, breathing new life into our high streets.”

David Thatcher, Group Chief Executive of Direct Wines

 

18 Execution excellence
Change
capability
An organisation’s capability – and capacity – to execute change is critical in today’s
environment. This is where the customer value proposition, leadership style and operating
model come together to deliver your end goal in a consistent and compelling manner.
Failure to execute change well is where many strategies fail. And with the world around us
changing constantly, the ability to execute change has become even more critical to success.

Old truths Less is more

The ‘less is more’ philosophy is clear, simple and easier
to execute. It goes hand in hand with an operating model
based on ‘relentless focus.’ There is no ambiguity, no options
or trade-offs to choose between and no parallel strand
capability

of the business to keep going alongside; just one clear

Change

direction. Be discerning about what you want to do and then

implement with commitment, purpose and speed. However,
it is a rare business that can afford to be so focused.
 

Execution excellence 19
 Even more true Place your bets
The ‘less is more’ approach is less applicable when you
are juggling multiple consumer demands. Then, change
execution becomes less about choosing the obvious route to
change and more about using data and insight to prioritise a
capability

more varied and dynamic portfolio of projects to meet your

Change

complex customer needs.

It is easier to place your bets if you have fact-based insight
which can inform your decisions and extend your competitive
advantage. That insight needs to be related to the direction
in which you want to go, as well as providing an insight into
your internal constraints. In choosing the right trade-offs to
decide which initiatives go ahead, the decision should always
be made with an accurate understanding of what resources
and capabilities are available to execute the strategy. This
is harder than ever, not only because of the volume of data
to understand and prioritise, but because of the strain
on ‘headspace’ as a result of companies cutting back on
resources to survive the recession.
We have worked with many clients, overwhelmed by a
stream of initiatives, who are struggling to not only deliver
business as usual, but to execute a new strategy effectively.
Helping them to prioritise projects on the basis of benefits,
time, and resource demands may sound straightforward,
but in our experience is rarely an easy discussion. Clarity of
the overall goal, the big picture of change required and the
engagement of the leadership team is key. Each department
has their own set of urgent priorities (hopefully) linked to
the company’s strategy and some of those will need to give
way for the benefit of the organisation as a whole.
 

20 Execution excellence
 New truths Agile
For some organisations, e.g. fashion retailers, this
prioritisation approach may simply be too slow. As Liz Evans
says, “The pace of change requires agility and flexibility and
the ability to respond to a shift in trends that are moving at
capability

a rate of knots.”
Change

Organisations need to change at the speed that the market

dictates. The old static 5-year-plan is no longer relevant
in an ever changing complex trading environment. A more
dynamic, agile approach will enable you to cope with the
volume and complexity of change. For some organisations,
that may mean adopting a twin track approach to change
alongside BAU. For example, creating a longer term
infrastructure programme (e.g. implementing a new ERP
system) in a traditional way in parallel to a network of
innovators that deliver an agile, continuously evolving
customer offer.
“The pace of change requires In a recent Harvard Business Review article, Accelerate,
agility and flexibility and John Kotter offers a new vision of a parallel approach
ability to respond to a shift in to change: the Dual Operating System. He believes that
traditional hierarchies are so focused on stability and
trends that are moving at a efficiency that they smother and cut off new ideas, which
rate of knots.” may upset the status quo. He proposes instead that
organisations should create a network of volunteers, the
Liv Evans, CEO of Oasis and Warehouse ‘strategy network’, drawn from all levels of the organisation,
who are asked to contribute their time to imagine and co-
create the future. In parallel, the rest of the organisation
keeps the business running as usual.
Parallel capacity is key to fast and effective change
execution. The trading environment for many, though not all,
organisations is simply too complex and too changeable to
adopt a singular ‘less is more’ or a prioritised ‘place your
bets’ approach.

“We must be agile in our

thoughts and plans. It’s no
longer about 3 year plans.
It’s about 3 month or 6 month
plans.”
Ferry den Hoed, former COO of Etam Group

Execution excellence 21
 In summary
Companies do not usually fail because of bad strategies. They fail because of an inability to implement good ones. In the
last few years, the ability to achieve execution excellence has become even harder due to a number of macro trends
ranging from complexity to technology to trust.
We believe that there are four essential elements to execution excellence that will help you to overcome these challenges.
The emphasis within each element has shifted over time so that to be truly effective today, you need to have:

1) An ever-evolving, relevant 3) An effective operating model:

Customer Value Proposition: Keep complexity on the outside, but don’t over-simplify:
You need a good product and you need to understand you need the capability to cope with the right amount of
and meet your customers’ multitude of needs. Most complexity to deliver customer expectations. Recognise
importantly, you need to help your customers to become the volume and power of data and employ people with
powerful advocates of your brand within their existing the ability to harness it, to enable you to find new ways
communities or within a tailor-made community to anticipate, excite and entice customers.
designed by you.
4) Agile change capability:
2) Inspirational leadership: Change at the speed that the market dictates: don’t stick
You need to demonstrate your passion for your doggedly to a 3-5 year plan. Prioritise initiatives and
business, your people and your customers. You need create parallel change capacity if you really want to
to empower your people to take accountability for change at pace.
executing your customer value proposition consistently
and effectively.

22 Execution excellence
Conclusion
One size does not fit all. The greatest strategy is one that you can implement effectively. You need to understand
what’s important to you, your people and your customers. As a leader, you now have a much larger range of tools at
your disposal to tackle the challenges in the current market. However, so does your competition and your customers’
expectations are growing exponentially. It is imperative to make a proactive decision on how to build execution capability
and capacity into your business.

Organisations that do not have the capability to execute their

customer offers successfully have a bleak outlook. If you
stand still, you go backwards. If you go backwards, you die.
Boxwood deliver great results with leaders who care and
dare, who are passionate about what they do and who want
to empower their people to deliver their vision for the future.
If you need advice on execution excellence:

Talk to Boxwood.

Execution excellence 23
Talk to
Boxwood.

15 Old Bailey
Contact for more information: London
EC4M 7EF
Matt Clark
United Kingdom
Head of Consumer
Tel +44 (0) 203 170 7240
T +44 (0)203 170 6025 Email [email protected]
E [email protected] www.boxwood.com