R. H. Macy’s name has survived bankruptcy, acquisition and merger. But, Abraham & Strauss, Bamberger’s, Block’s, Bonwit Teller, Broadway, Bullock’s, Burdine’s, Dayton’s, Famous Barr, Filene’s, Ford's, Foley’s, Frederick & Nelson, Gimbel’s, Goldwater’s, Hecht’s, Hudson’s, I. Magnin, Jacobson’s, Kaufmann’s, Lazarus, Liberty House, Lit Brothers, Lord & Taylor, Maas Bros., Marshall Field’s, Meier & Frank, Pogue’s, Rich’s, Rike’s, Robinson’s, Shillito’s, Strawbridge’s, Stern’s, Thalhimer’s, Wanamaker’s, Wasson’s, Woodward & Lothrop and dozens of other big department store names are history.
Large corporations have trouble making quick adjustments in policy which explains in part why they are so vulnerable and why so many disappear from the business scene. Everyone in a small business should celebrate the fact that BIG is not always better. Stay loose and be ready to make adjustments to your MO's in the months ahead. Times are changing fast!
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