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Casual Articles - Famous Business Strategies
Why Successful Government Contractors Never “Wear Flip-Flops”A photo of Northwestern University's national championship women's lacrosse team, taken during the athletes' recent visit to the White House, shows most of the nine women in the front row wearing flip-flop sandals along with their dresses and skirts. This created a flip-flop flap.The entire flip-flop flap is based upon presenting oneself in the appropriate manner to suit the audience. Yes, the young women were inexperienced in dressing to meet the President, but their mistake was in using their own judgment based upon acceptable dress in situations they normally experience. They failed to look at the acceptable dress from the point of having an audience with the President of the United States at the White House.What can flip-flops (the shoes, not the political posturing) pos
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to co
During the Spring of 2002, I was fortunate to work with Constance Rossum, one of the authors of the Self-Assessment Tool for nonprofits from the Drucker Foundation.It was fascinating to see how quickly we could often get at the heart of an organization’s issues with five seemingly simple questions:1. What do we do, what is our mission? 2. Who is our customer? 3. What does our customer value? 4. How are we doing at providing that value? How do we know? 5. What is our plan for sustained/increased success?In this context, you have “primary” customers whose lives the organization directly impacts and “secondary” customers who benefit in other ways. These questions are great tools to engage a Board that is sitting on the sidelines, or staff who get caught up in the day-to-day routine.In tight financial times, it is even
Strategy
Identifying the best strategy for your business is the key to all success. It should give you the lift that makes a difference. The art for your strategy success is planning.
* settling a vision for your business
* defining a mission
* setting out objectives
* establishing values, goals and programs.
Vision
It is all there, it is all important, but first there is the vision. So, is vision a spark, is it a moment? How much is inspiration and how much hard work? Is it 99% perspiration and only 1% inspiration? Can we all be geniuses?
According to Edison's theory I would say yes, if we are committed to hard working, as it is primarily the hard work that makes a genius. Inspiration comes on the way, when involved in as much action as you can handle. Contrary to the conceptual meaning, inspiration seems to be driven by propitious conditions - in this case, by work.
Hard work
So, what really happens behind the fairy-tale success stories is usually not what some would expect - a brilliant, extraordinary, never heard of discovery that changed the world, but, disappointingly enough, plain hard work. What these people have is what I would call "industry intelligence". How is it acquired? Working of course. That is, sharply aware of their industry environment, learning all the rules and deeply involved in their own businesses, success people have at some point of activity a vision for their business that proves to be a winner - the revelation naturally produced as a result of their work commitment.
Let's take the example of three American legends: Sam Walton, Warren Buffet and Bill Gates. What do they have in common? The winning vision, the winning strategy.
Sam Walton
In the case of Sam Walton, no new, innovative business models were launched. He followed the existing low-price retailing pattern but the competitive successful strategic approach was that instead of focusing on large cities he took his business to small towns becoming the low-price leader in rural towns.
Warren Buffet
Warren Buffett's success resides in his different approach to value investing. While usually investors look for stocks they believe undervalued by the market, Buffett does not take into consideration the stock market aspects, such as for instance the supply and demand ratio. He analyzes the stocks on the basis of their potential as companies. He is interested in long-term results, such as ownership in companies with capacity of generating money, namely, companies with a strong name, great historical results, strong management and industry expertise.
Bill Gates
Neither is the case of Bill Gates to have made extraordinary innovations. Rather than innovation, he had the ability to put together other people's ideas, thus producing big hits and making a profit. He did that first when adjusting BASIC programming language for the Altair 8800 (first PC) - neither of which was his original creation. Then, the same happened with DOS, which Microsoft bought (the original version was QDOS) and adjusted.
Business strategies implementation
Then, action comes. As the saying goes, planning without action is futile, action without planning is fatal. It takes guts to act boldly and take whatever risks are necessary to put your vision into practice. It takes a great deal of tenacity to surpass obstacles and get over unfortunate happenings on the way. So, how did they implement their planned strategies? What was the outcome, what principles resulted for them to base their businesses on?
Warren Buffet
For the implementation of his strategy, Buffett has drawn his company choice principles, involving a great deal of analysis of business, management, financial aspects and a great deal of patience, waiting for the right price once the possible investment has been identified.
On businesses
* simple and understandable
* consistent operating history
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, not earnings per share
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible significant discount, case in which it will be purchased.
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to com
Beauty salon equipment includes various equipment having unique functions in the beauty industry. The type of beauty salon equipment used determines the quality of services offered. Most beauty salons offer basic hair cutting and hair styling services. The basic beauty salon equipment necessary to provide these services consists of, hair styling chairs, washbasins, hair dryers and supply trolleys. Regular salon equipment is available with a number of suppliers, at low rates.to meet any individual salon needs. There are many companies that have been designing and selling innovative beauty equipment to the world. Most of the companies have become leading professional salon equipment and furnishings dealers. Professionals in the business have specific requirements, in the way of the equipment used. The choice of equipment and furnishing differs from the regu
Hard work
So, what really happens behind the fairy-tale success stories is usually not what some would expect - a brilliant, extraordinary, never heard of discovery that changed the world, but, disappointingly enough, plain hard work. What these people have is what I would call "industry intelligence". How is it acquired? Working of course. That is, sharply aware of their industry environment, learning all the rules and deeply involved in their own businesses, success people have at some point of activity a vision for their business that proves to be a winner - the revelation naturally produced as a result of their work commitment.
Let's take the example of three American legends: Sam Walton, Warren Buffet and Bill Gates. What do they have in common? The winning vision, the winning strategy.
Sam Walton
In the case of Sam Walton, no new, innovative business models were launched. He followed the existing low-price retailing pattern but the competitive successful strategic approach was that instead of focusing on large cities he took his business to small towns becoming the low-price leader in rural towns.
Warren Buffet
Warren Buffett's success resides in his different approach to value investing. While usually investors look for stocks they believe undervalued by the market, Buffett does not take into consideration the stock market aspects, such as for instance the supply and demand ratio. He analyzes the stocks on the basis of their potential as companies. He is interested in long-term results, such as ownership in companies with capacity of generating money, namely, companies with a strong name, great historical results, strong management and industry expertise.
Bill Gates
Neither is the case of Bill Gates to have made extraordinary innovations. Rather than innovation, he had the ability to put together other people's ideas, thus producing big hits and making a profit. He did that first when adjusting BASIC programming language for the Altair 8800 (first PC) - neither of which was his original creation. Then, the same happened with DOS, which Microsoft bought (the original version was QDOS) and adjusted.
Business strategies implementation
Then, action comes. As the saying goes, planning without action is futile, action without planning is fatal. It takes guts to act boldly and take whatever risks are necessary to put your vision into practice. It takes a great deal of tenacity to surpass obstacles and get over unfortunate happenings on the way. So, how did they implement their planned strategies? What was the outcome, what principles resulted for them to base their businesses on?
Warren Buffet
For the implementation of his strategy, Buffett has drawn his company choice principles, involving a great deal of analysis of business, management, financial aspects and a great deal of patience, waiting for the right price once the possible investment has been identified.
On businesses
* simple and understandable
* consistent operating history
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, not earnings per share
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible significant discount, case in which it will be purchased.
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to co
Tupperware? That was my initial thought, too. I pictured the Tupperware parties of which I’d heard so often – and the sole party I intended. How could you raise money with a Tupperware fundraiser if everyone had to attend a party somewhere? And who would host all those parties?!No Party Needed!Then I learned that a Tupperware fundraiser is not based on parties. A Tupperware fundraiser is run much like any other fundraiser, except that you offer a quality, durable product instead of cheap consumables.Think back to the last fundraiser you had. Maybe you offered an array of candles – or coupon books. Many of your workers felt they were pushing products people neither wanted nor needed. Instead of appealing to the buyer, they were trying to sell products that were easy to get at low prices.It all boiled down to a basic feeling that
Bill Gates
Neither is the case of Bill Gates to have made extraordinary innovations. Rather than innovation, he had the ability to put together other people's ideas, thus producing big hits and making a profit. He did that first when adjusting BASIC programming language for the Altair 8800 (first PC) - neither of which was his original creation. Then, the same happened with DOS, which Microsoft bought (the original version was QDOS) and adjusted.
Business strategies implementation
Then, action comes. As the saying goes, planning without action is futile, action without planning is fatal. It takes guts to act boldly and take whatever risks are necessary to put your vision into practice. It takes a great deal of tenacity to surpass obstacles and get over unfortunate happenings on the way. So, how did they implement their planned strategies? What was the outcome, what principles resulted for them to base their businesses on?
Warren Buffet
For the implementation of his strategy, Buffett has drawn his company choice principles, involving a great deal of analysis of business, management, financial aspects and a great deal of patience, waiting for the right price once the possible investment has been identified.
On businesses
* simple and understandable
* consistent operating history
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, not earnings per share
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible significant discount, case in which it will be purchased.
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to co
The first thing you want to do for your bum marketing/ article marketing campaign is pick a product or site to promote. You can do that through several affiliate sites online, or if you already have a website, you can use that.Once you have your product, you want to do some keyword research, there are many tools available online to help you choose the best keywords for your product. What you really want to find are keywords or phrases that are searched often, but show few results. You should also add quotes to your keywords to see what the results for true competition is. You will know when you have a good keyword because you will see it has been searched several times, often over 500 a month is good, and there will be fewer than 10,000 true competing site results.The next step in bum marketing is to research. Again there is a lot of help with this
Warren Buffet
For the implementation of his strategy, Buffett has drawn his company choice principles, involving a great deal of analysis of business, management, financial aspects and a great deal of patience, waiting for the right price once the possible investment has been identified.
On businesses
* simple and understandable
* consistent operating history
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, not earnings per share
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible significant discount, case in which it will be purchased.
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to co
Buying horse properties, especially your own horse is similar to buying a dog except that this pet can be very expensive. Quality horses aren't cheap. If you’re in the market for a horse, you might be checking out newspaper ads, equine forums on the Internet, your state’s agricultural bulletin, notices on tack and feed stores or livestock auctions – all in search of a good horse at a good price. Depending on the animal’s breeding, health, age, size and ability, a recreational riding horse can cost anywhere from several hundred dollars to many thousands. The purchasing cost of the animal, however, is just the start. Julie Lucas, a horse veterinarian comments that often enough, the cost of the horse is insignificant or rather small when put together with the cost of its care and upkeep. Needless to say, procuring horses makes for a big financial step so careful p
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, competition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microsoft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to computer engineers and thus addressing masses, Bill Gates succeeded in putting together and promoting towards a tremendous popularity (and profit accordingly) the world's dominant operating system.
What these people have in common is nevertheless an extraordinary ingenuity: they innovated their industry domain, building their own strategy tailored for their own business particularities and went further to its implementation.
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