What a benefit: Time to think.

• Author: Leahy, Terry

From Management in 10 Words by Terry Leahy. Copyright [c]2012 by the author. Published by Crown Business (www.crownpublishing.com).

BY 1992, MORALE AT TESCO was flagging and a sense of crisis was beginning to set in. Sitting at my desk one October day, I was suddenly summoned upstairs for a meeting with the CEO, Ian MacLaurin. I walked in to find David Malpas, his managing director, there too. I immediately thought I was going to be fired. We were losing customers and I shared more than just some of the responsibility--at the time I was commercial director of Fresh Foods, buying and selling a large part of what Tesco sold. Instead, they asked me if I wanted to be marketing director and on the board. A promotion.

The color drained from my face. The only thing I felt missing from the room was a poisoned chalice. But I accepted. I had just been made an offer I could not refuse. There was no choice.

Although it sounded powerful, the role of marketing director...