One of the tests of the English legal system is “what would the man on the Clapham omnibus think?”- basically this is the reaction to any problem or situation that could be expected from a reasonably educated and intelligent but non-specialist person.
In the current economic climate many companies would do well to ask “what does the man at the Clapham Supermarket checkout think?”
The problem is that many people running businesses (or for that matter senior politicians) are too removed from the realities of life to effectively understand the economic difficulties faced by the ordinary consumer. It is a very easy exercise but a few minutes spent in the supermarket or on a garage forecourt will give a true insight into the problems and frustrations currently felt by the ordinary consumer.
Retail businesses have a matter of days left to maximise their sales in the pre Christmas run-up and the end of year sales. It does not take a crystal ball to forecast bad results for many retailers against this current backdrop with the resulting trickle down through other areas of the economy.
There is unfortunately no silver bullet so all businesses must look to operate at maximum efficiency and with rigorous policing of inventory levels and cash-flow.
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