Just a week after announcing the impending closure of 20 percent of its stores, including the one in Charlottesville, struggling electronics retailer Circuit City filed for Chapter 11 bankruptcy protection to reorganize its finances.
Remember when Circuit City was a favorite in Ã¢â?¬Å?Good to Great” by Jim Collins? Remember when we thought being big gave you clout with customers and vendors to produce long-term returns (Michael Porter’s 5 Forces Model)? It’s time we recognize that the old approach to management doesn’t work in a rapidly shifting competitive world. There are winners in today’s market, but they follow a different approach. Read more at http://www.ThePhoenixPrinciple.com
Circuit City is about to go Tango Uniform.
RIP Circuit City = Celestial Eternal Dirt Nap.