Dick Smith Group’s autopsy – bad strategy, not foul play

The first official autopsy report into the demise of the Dick Smith electronics group  appears to find the cause of death was management ineptitude rather than foul play.
Corporate administrator McGrathNicol, which was appointed by the company this year, released its investigative report on Wednesday – detailing a litany of strategic management blunders, ranging from over buying inventory to aggressive expansion, the wrong choice of product and taking on too much debt.
To the extent there was a villain in the piece, the implication is that the finger could point in the direction of the banks – which played hardball in declaring the company was in breach of its borrowing agreements with them. Sydney Morning Herald – Read more…