A few years ago a well-known strategic thinker stated that any futurologist who back in the early 1990s did not predict the emergence of the internet should seek alternative employment, himself included. Yet, in spite of our inherent inability to foresee the major shifts that invariably occur we keep trying.
How the mighty have fallen. There was a time when Woolworths was regarded as the best retailer in Australia, certainly the most profitable.
Many Australian businesses rely on China, directly for supplies and indirectly on exports to the region that fuel our economy. In particular, what happens in China matters a lot to Australian retailers.
Pharmacists most likely saw change coming, but I suspect that they didn’t expect it to arrive so soon. The Harper Review and the Abbott government’s plans to overhaul the Pharmaceutical Benefits Scheme will remove the comfortable profit margins pharmacists have been sitting on for years.