Some years after African Bank acquired Ellerines, which has a national footprint of 650 branches and 100 stores in neighbouring countries, the CEO approached Sedick Arendse to become the managing director. He warned Arendse that there was a culture of non-performance, the business was unprofitable, and it needed to be turned around. And Arendse thought, this sounds like an exciting job!
In the two years following, Arendse says, “We have enhanced the business to the extent that our profitability at the end of 2011 was 153% higher than the previous year. Implementing a Neethling Brain Instruments [NBI] creativity programme has had a profound impact on bottom line results. “The approach was to ask: What needs to change radically to create an enabling organisation, with new
and innovative ways of approaching the business and
servicing the customer? In the last four to five years, the retail landscape has changed, and we are faced with complex, sophisticated customers that buy in different ways. The demand is to be customer-centric—to understand the customer. We are not only in the business of selling goods but also in the business of being chosen by customers.