In one of her statements, well-known businesswoman Karen Katz expressed her conviction that independence is highly effective. Her leadership positions at Neiman Marcus and Sephora have made her famous.
Katz's perspective on staying independent is based on her experience running Neiman Marcus during difficult times. She had to make difficult choices regarding the company's future while serving as CEO. Whether to remain a separate company or combine with another corporation was one of the most important choices. Katz argued that Neiman Marcus would be able to better serve its customers and eventually increase shareholder value if it became independent.
She compares her reasoning to a gardener who decides to grow plants without scaffolding. Over time, these plants grow stronger root systems and become less dependent on artificial support, even though at first they might not seem as sturdy as those supported by outside assistance. Katz also thought that an independent business would encourage resilience and adaptability, which are essential qualities for surviving in the cutthroat retail industry.
Katz showed her belief in the special characteristics of Neiman Marcus and its capacity to prosper without outside intervention by standing by her principles and supporting independence. Her approach paid off, as the business fared better during recessions than some of its rivals who opted for partnerships or mergers.
The main idea behind Katz's philosophy is to create an atmosphere in the workplace where natural talents can thrive. In addition to protecting Neiman Marcus, this strategy served as a model for other retail executives thinking about taking a similar route in their career paths.