To navigate extreme uncertainty like unpredictable tariffs, Walmart's buyers use tangible, seasonal purchasing decisions (e.g., Halloween costumes) as a framework. They run detailed "what-if" scenarios on pricing, sourcing, and consumer behavior to make concrete decisions despite ambiguity.

In today's fast-moving environment, a fixed 'long-term playbook' is unrealistic. The effective strategy is to set durable goals and objectives but build in the expectation—and budget—to constantly pivot tactics based on testing and learning.

Processes that work at $30M are inadequate at $45M. Leaders in hyper-growth environments (30-50% YoY) must accept that their playbooks have a short shelf-life and require constant redesign. This necessitates hiring leaders who can build for the next level, not just manage the current one.

In an era of accelerating change, a manager's role is to be like a willow tree. They must provide a sturdy, stable vision for the team while remaining highly flexible in how they adapt to storms and changing conditions. This combination builds team resilience.

The traditional model of being either a wartime or peacetime leader is outdated. In today's volatile environment, leaders must be fluid, adapting their style day-to-day to handle both long-term strategic initiatives (peacetime) and immediate crises like unexpected tariffs (wartime).

To prevent rigid plans that break, maintain consistency in your high-level strategic pillars for the year. However, build in flexibility by allowing the specific tactics used to achieve those pillars to change quarterly based on performance and new learnings.

To combat the perception that department stores are dated, Macy's CEO suggests reframing the model as a "marketplace." This modern term highlights its core strengths: a wide selection of categories, brands, and price points serving multiple generations across both physical and digital channels, positioning it as a future-proof concept.

When strategic direction is unclear due to leadership changes, waiting for clarity leads to stagnation. The better approach is to create a draft plan with the explicit understanding it may be discarded. This provides a starting point for new leadership and maintains team momentum, so long as you are psychologically prepared to pivot.

Balance a multi-decade company vision with an intense, minute-by-minute focus on daily execution. This dual cadence keeps the long-term goal in sight while ensuring relentless forward progress, creating a culture of both ambition and urgency.