Msms

In: Business and Management

Submitted By cassy
Words 388
Pages 2
From small beginnings in Wairau Road in 1982, Sir Stephen Tindall’s amazing entrepreneurial ability combined with his team’s commitment to “give anything a go” shows you indeed that “nothing is impossible”.
In 1982 New Zealand was quite a different country; imports of many products were restricted so consumers didn’t have much choice and the products that were available were often expensive. The government had imposed a wage and price freeze and getting a housing loan required a savings record for 3 years before you were able to borrow at 18% interest and more! Shopping in New Zealand meant going to stores like George Courts and Haywrights; big established stores in towns and cities. Stephen and his team took a different approach; The Warehouse was located in the suburbs, with basic sheds, bins and racks and concrete floors. The Warehouse sold things never seen before in NZ such as banana loungers, rattan blinds and soccer ball radios, in fact the first Warehouse stores were filled with things that other companies couldn’t sell! When sales took off Stephen and his team went looking for suppliers and goods from around the world that could provide real bargains for Kiwi shoppers. With a relentless focus on keeping costs down and reinvesting profits to ensure prices were low the company culture began to develop in a unique (and successful) manner.
The other way in which The Warehouse was different to its competitors related to the people who worked for it – from the very beginning they mattered. There were Friday night barbeques, monthly team meetings and a chance to socialize afterwards, the famous red t-shirts worn by all staff including managers made it clear that everyone was working together as one team. Even today the legendary Birthday Day Off and annual company Conference with partners are important cornerstones of The Warehouse’s approach to its…...

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