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My appreciation of the power of hospitality and my desire to harness it have been the greatest contributors to whatever success my restaurants and businesses have had. I’ve learned how crucially important it is to put hospitality to work, first for the people who work for me and subsequently for all the other people and stakeholders who are in any way affected by our business—in descending order, our guests, community, suppliers, and investors. I call this way of setting priorities “enlightened hospitality.” It stands some more traditional business approaches on their head, but it’s the foundation of every business decision and every success we’ve had.
Danny Meyer
In AI, the lion’s share of the most advanced GPUs essential to the latest models are designed by one company, the American firm NVIDIA. Most of its chips are manufactured by one company, TSMC, in Taiwan, the most advanced in just a single building, the world’s most sophisticated and expensive factory. TSMC’s machinery to make these chips comes from a single supplier, the Dutch firm ASML, by far Europe’s most valuable and important tech company.
Mustafa Suleyman (The Coming Wave: AI, Power, and Our Future)
With heroin alone, the sources of supply seemed finite and organizational; access was limited to those with a genuine connection to the New York suppliers, who had, in turn, cultivated a connection to a small number of importers. The cocaine epidemic changed that as well, creating a freelance market with twenty-year-old wholesalers supplying seventeen- year-old dealers. Anyone could ride the Amtrak or the Greyhound to New York and come back with a package. By the late eighties, the professionals were effectively marginalized in Baltimore; cocaine and the open market made the concept of territory irrelevant to the city drug trade.
David Simon (The Corner: A Year in the Life of an Inner-City Neighbourhood (Canons))
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Where and How Quickly to Buy Verified PayPal Accounts Online – USA Complete 2025 Guide + 12 Proven T
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The Complete Guide to Buying a Verified Alipay Account
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The Complete Guide to Buying a Verified Alipay Account
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The Complete Guide to Buying a Verified Alipay Account
As noted in About ESC Electrol Specialties Company began fabricating CIP System components as a vendor to one of the nations largest suppliers of cleaning chemicals to the Dairy industry more than 50 years ago. This vendor was a major provider of the engineering services, components and skilled personnel required to design and install CIPable automaed processes, for dairies initialy, and later food and beverage processors. This vendor was actively involved with new facility construction, but more importantly, also developed and applied the methodos of applying such new technology equally well to "recycle old dairies" via rennovation projects planned to provide the exisitng facility increased capacity, efficiency and quality capabilities, and keep it running during the rennovation process. This vendor worked on a design and install" basis and used its own wsanitary welding crews, even Internationally, through the mid 70s.
John Franks
The real improvements then must come, to a considerable extent, from the local communities themselves. We need local revision of our methods of land use and production. We need to study and work together to reduce scale, reduce overhead, reduce industrial dependencies; we need to market and process local products locally; we need to bring local economies into harmony with local ecosystems so that we can live and work with pleasure in the same places indefinitely; we need to substitute ourselves, our neighborhoods, our local resources, for expensive imported goods and services; we need to increase cooperation among all local economic entities: households, farms, factories, banks, consumers, and suppliers. If. we are serious about reducing government and the burdens of government, then we need to do so by returning economic self-determination to the people. And we must not do this by inviting destructive industries to provide "jobs" to the community; we must do it by fostering economic democracy. For example, as much as possible the food that is consumed locally ought to be locally produced on small farms, and then processed in small, non- polluting plants that are locally owned. We must do everything possible to provide to ordinary citizens the opportunity to own a small, usable share of the country. In that way, we will put local capital to work locally, not to exploit and destroy the land but to use it well. This is not work just for the privileged, the well-positioned, the wealthy, and the powerful. It is work for everybody. I acknowledge that to advocate such reforms is to advocate a kind of secession-not a secession of armed violence but a quiet secession by which people find the practical means and the strength of spirit to remove themselves from an economy that is exploiting and destroying their homeland. The great, greedy, indifferent national and international economy is killing rural America, just as it is killing America's cities--it is killing our country. Experience has shown that there is no use in appealing to this economy for mercy toward the earth or toward any human community. All true patriots must find ways of opposing it. --1991
Wendell Berry (Sex, Economy, Freedom, and Community: Eight Essays)
My eyes widened at that offer. I’d missed riding since coming to the Academy and I hadn’t really thought I’d be able to get out again any time soon. But I wasn’t sure I wanted him to know quite how much this meant to me. Every other piece of information the Heirs had gotten on me up until now had been twisted against me in some way and I didn’t want them trying to take this from me too. “I’m not really dressed for it,” I said slowly though in all honesty I had no issue with tying my dress in a knot around my waist if that was what it took to get me out on the road. “I’m sure I could lend you my shirt if you want to take it off,” he replied. “That would require both of us taking off rather a lot of our clothes.” There was a dare hanging in the air between us and I was afraid that I wouldn’t be able to resist it much longer. I eyed the line up of bikes, my heart beating a little faster as I tried to decide which one I’d choose. In all honesty I was too drunk to ride, although the sandwich was mopping up some of the excess alcohol and I was feeling a little less dizzy... It still wouldn’t have been the best idea though. “Why do you have the same bikes that that they have in the mortal world?” I asked as I began to wander between the immaculate machines. Some of the badges were different, I read names like Yamaharpy, Sphinxzuki, Hondusa, Harley Dragonson and I couldn’t keep the smirk from my lips but the actual bikes were definitely mortal models. “There are several permanent rifts between our world and the mortal world where we import all sorts of goods like these. The importers like to change the names as a kind of in-joke but a hell of a lot of our products come straight out of Taiwan or China, direct to Solaria,” Darius explained. “Why?” I asked. “Can’t Fae invent their own bikes and cars?” “I guess we could... but why bother? We’ve got better things to do with our time and it makes sense to use the mortals like our own personal goods suppliers. The Fae they deal with even manage to Coerce the best prices for everything we import. No Fae vendor would create any of the things we desire so cheaply.” Darius folded his arms and leaned back to perch on the saddle of a stunning green bike as he watched my exploration. “So you basically abuse the mortals with your power?” I asked. “We use our power to take what we want from them,” he agreed. “Just the same as we do with other Fae.” He had a point there; Fae were equally asshole-like to their own kind. (Tory)
Caroline Peckham (Ruthless Fae (Zodiac Academy, #2))
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Stain Peter
Performance measure. Throughout this book, the term performance measure refers to an indicator used by management to measure, report, and improve performance. Performance measures are classed as key result indicators, result indicators, performance indicators, or key performance indicators. Critical success factors (CSFs). CSFs are the list of issues or aspects of organizational performance that determine ongoing health, vitality, and wellbeing. Normally there are between five and eight CSFs in any organization. Success factors. A list of 30 or so issues or aspects of organizational performance that management knows are important in order to perform well in any given sector/ industry. Some of these success factors are much more important; these are known as critical success factors. Balanced scorecard. A term first introduced by Kaplan and Norton describing how you need to measure performance in a more holistic way. You need to see an organization’s performance in a number of different perspectives. For the purposes of this book, there are six perspectives in a balanced scorecard (see Exhibit 1.7). Oracles and young guns. In an organization, oracles are those gray-haired individuals who have seen it all before. They are often considered to be slow, ponderous, and, quite frankly, a nuisance by the new management. Often they are retired early or made redundant only to be rehired as contractors at twice their previous salary when management realizes they have lost too much institutional knowledge. Their considered pace is often a reflection that they can see that an exercise is futile because it has failed twice before. The young guns are fearless and precocious leaders of the future who are not afraid to go where angels fear to tread. These staff members have not yet achieved management positions. The mixing of the oracles and young guns during a KPI project benefits both parties and the organization. The young guns learn much and the oracles rediscover their energy being around these live wires. Empowerment. For the purposes of this book, empowerment is an outcome of a process that matches competencies, skills, and motivations with the required level of autonomy and responsibility in the workplace. Senior management team (SMT). The team comprised of the CEO and all direct reports. Better practice. The efficient and effective way management and staff undertake business activities in all key processes: leadership, planning, customers, suppliers, community relations, production and supply of products and services, employee wellbeing, and so forth. Best practice. A commonly misused term, especially because what is best practice for one organization may not be best practice for another, albeit they are in the same sector. Best practice is where better practices, when effectively linked together, lead to sustainable world-class outcomes in quality, customer service, flexibility, timeliness, innovation, cost, and competitiveness. Best-practice organizations commonly use the latest time-saving technologies, always focus on the 80/20, are members of quality management and continuous improvement professional bodies, and utilize benchmarking. Exhibit 1.10 shows the contents of the toolkit used by best-practice organizations to achieve world-class performance. EXHIBIT 1.10 Best-Practice Toolkit Benchmarking. An ongoing, systematic process to search for international better practices, compare against them, and then introduce them, modified where necessary, into your organization. Benchmarking may be focused on products, services, business practices, and processes of recognized leading organizations.
Douglas W. Hubbard (Business Intelligence Sampler: Book Excerpts by Douglas Hubbard, David Parmenter, Wayne Eckerson, Dalton Cervo and Mark Allen, Ed Barrows and Andy Neely)
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Although the diners in the Zagat Survey had ranked the Union Square Cafe tenth for food, eleventh for service, and out of the money altogether for décor, they had also voted it the third most popular restaurant in the entire city. Evidently there was some other factor at work. The other factor, Meyer and his associates decided, was hospitality, which they then tried to define. In the end, they agreed that it came from their commitment to five core values: caring for each other; caring for guests; caring for the community; caring for suppliers; and caring for investors and profitability—in descending order of importance.
Bo Burlingham (Small Giants: Companies That Choose to Be Great Instead of Big)
A word that can mean anything has lost its bite. To give content to a concept one has to draw lines, marking off what it denotes and what it does not. To begin the journey toward clarity, it is helpful to recognize that the words “strategy” and “strategic” are often sloppily used to mark decisions made by the highest-level officials. For example, in business, most mergers and acquisitions, investments in expensive new facilities, negotiations with important suppliers and customers, and overall organizational design are normally considered to be “strategic.
Richard P. Rumelt (Good Strategy Bad Strategy: The Difference and Why It Matters)
Manufacturers I worked with got away with whatever they wanted, and importers did not have the leverage to pressure their suppliers to behave in an ethical fashion.
Paul Midler (Poorly Made in China: An Insider's Account of the China Production Game)
Why Sulfur Blooming Is Undesirable In The Rubber Industry? Rubber is the main raw material in the manufacturing of tires. Industriy uses both natural and synthetic rubber for the purpose. To maintain the quality of rubber sulfur content is one of the most important parameters. Raw rubber is a hydrocarbon in nature and is a thermoplastic. in order to eliminate the dundesirable property of malodorousness, treating rubber with sulfur, other accelerators, and antioxidants are necessary. Which in turn help to prolong the life of rubber product, tire in this case. However, being crystalline organic sulfur is somewhat soluble in polymers (rubber). Mixing ordinary sulfur to the natural rubber will be of no use as it will dissolve during the hot mixing process. Later after cool-down, it will form the crystalize surface, causing the sulfur to bloom. This might not affect the function of the rubber product but it will mess up the appearance of the product. To prevent this undesirable effect of sulfur blooming, insoluble sulfur is used in Rubber. Being a homopolymer, it forms a long chain compound, which eliminates the chance of blooming by keeping the sulfur inside and not allowing it to crystalize on the surface of the rubber.
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We fundamentally changed the point of view of the business from customer-oriented to buyer-oriented. I put our buyers in charge of the company. From 1958 through 1976, we tried to carry what the customers asked for, given the limits of our small stores and other operational parameters. Each store manager had great latitude in what was carried and from what supplier it was ordered. There was very little central distribution except for Trader Joe’s labeled California wines or imports. Each store probably had access to ten thousand stock keeping units (SKUs), of which about three thousand were actually stocked in any given week. By the time I left in 1989, we were down to a band of 1,100 to 1,500 SKUs, all of which were delivered through a central distribution system. The managers no longer had any buying discretion and there were no “DSDs,” or direct store deliveries. And along the way not only did we drop a lot of products that our customers would have liked us to sell, even at not-outstanding prices, but we stopped cashing checks in excess of the amount of purchase, we stopped all full-case discounts, and we persistently shortened the hours. We violated every received-wisdom of retailing except one: we delivered great value, which is where most retailers fail.
Joe Coulombe (Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys)
The Most Important Strategic Decision Was to Become a Genuine Retailer The fundamental job of a retailer is to buy goods whole, cut them into pieces, and sell the pieces to the ultimate consumers. This is the most important mental construct I can impart to those of you who want to enter retailing. Most “retailers” have no idea of the formal meaning of the word. Time and again I had to remind myself just what my role in society was supposed to be. Many of the policy decisions for a retailer boil down to this: How closely should we stick to the fundamental retailing job? “Retail” comes from a medieval French verb, retailer, which means “to cut into pieces.” “Tailor” comes from the same verb. The fact is that most so-called retailers don’t want to face up to their basic job. In Pronto Markets we did everything we could to avoid retailing. We tried to shift the burden to suppliers, buying prepackaged goods, hopefully pre-price-marked (potato chips, bread, cupcakes, magazines, paperback books) so we had no role in the pricing decision. The goods were ordered, displayed, and returned by outside salespeople. To this day, supermarkets fight with the retail clerks’ union to expand their right to let core store work be done by outsiders. Whole Earth Harry’s moves into wine and health foods had taken us quite a distance into genuine retailing. In our cheese departments we were literally taking whole wheels and cutting them into pieces. I took this as an analogy for what we should do with everything we sold. Getting rid of all outside salespeople was corollary to the programs that would unfold during the next five years. In Mac the Knife, no outsiders of any sort were permitted in the store. All the work was done by employees. The closest thing to it that I see these days is Costco, which shares many features with Trader Joe’s.
Joe Coulombe (Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys)
The National Audit Office would later discover that almost 500 suppliers with links to politicians or senior officials were referred to the channel. The advantage of this fast stream was that bidding firms were automatically treated as credible by government officials. The departure from standard procurement practice would lead to allegations of cronyism when it was exposed later in the year. Some of the deals would beggar belief. A small loss-making firm run by a Conservative councillor in Stroud was given a £120 million contract to import PPE from China without any competition. A vermin-control company valued at £19,000 was given £108 million to supply protective equipment.
Jonathan Calvert (Failures of State: The Inside Story of Britain’s Battle with Coronavirus)
Importsini.com sebagai jasa import barang dari china telah berpengalaman membantu para importi yang ingin membeli barang dari china dengan biaya yang murah, pengiriman yang cepat dan garansi barang sampai di tempat tujuan. Kami mengedepankan kerjasama yang baik yang berkepanjangan untuk jasa import yang kami tawarkan. bukan hanya masalah pengiriman dimana di dalamnya tedapat banyak komponen yang akan kami bantu seperti hal perpajakan dan perizinan yang harus di lalaui sebelum barang masuk ke Indonesia. Selain itu kami juga memberikan layanan pencarian supplier dan barang tertentu jika importir yang menjadi pelanggan kami masih belum memiliki supplier di china. bahkan untuk masalah pembayaran dengan uang china, pun kami dapat menerima jasa titip bayar ke supplier china, sehingga konsumen hanya membayar degan rupiah saja.
importsini
I'd left the soon-to-be-blue doors open, and Clementine had let herself in. As we entered the kitchen, I could see her putting the finishing touches on two bowls of something chocolaty. "What is this?" I asked, taking a closer look. Clementine finished her plating and stepped back. "Nutella mousse with hazelnut liqueur, served with chocolate-dipped hazelnut shortbread." She was good; I had to give her that. Nico and I shared a deep, genetic affinity for the chocolate-hazelnut spread. Without hesitation, I picked up the spoon and dug in. An intense, perfectly complex Nutella taste met my tongue. My eyes slid shut. "That is so good." "Try it with the shortbread," Clementine instructed. I dipped the chocolaty-end of the shortbread into the mousse. The crunch of the cookie set off the rich mousse like a dream. A chocolaty, hazelnutty, Nutella-y dream. Dragging my attention away from dessert, I looked to Nico to see his reaction. He stood staring at me, spoon in hand, mousse untouched. I frowned at him. "What on earth are you waiting for? Eat!" Nico scowled but dug his spoon into the mousse. He took a bite; his face froze. "Seriously," I said, working two more spoonfuls, "I might lick the bowl." Nico shrugged. "It's pretty good." Clementine squared her shoulders. "Pretty good?" "You want the job?" "Yes, I do," she answered. "I'll think about it," he told her, his expression guarded. "Thank you," Clementine replied, unfazed. I scooped another bite of mousse. "This shortbread? It's perfect!" "It's the French butter. I get it from your grandmother's supplier--he gives us, I mean, me, a good deal. I bake croissants for him. He imports French butter but can't bake. Isn't that sad?" I nodded, nibbling at the shortbread. "The butter certainly imports a richness of flavor that's quite special.
Hillary Manton Lodge (A Table by the Window (Two Blue Doors #1))
Stepped Approach World Class Pricing Inc. (2010) introduced the “Stepped Approach” for the execution of value-based pricing strategy. This approach starts with a Customer Targeting step that leading to mapping value drivers for customers (Value Assessment step). Having defined the business’s value delivery, the next step offers a ‘menu’ with different options available to its customers (Offering Structure step). The success of the ‘menu’ offering depends on the next step – the Value Communication one - as it is important that a clear message be communicated about value delivery to the clients. Successful communication will prompt the negotiation step that will push customers to seek value for themselves which will result in gaining competitive advantage for both the supplier and its customer (Value Negotiation step). Concluding the process is the Price Setting step that allows delivery of value with the offering.
Stephan M. Liozu (Monetizing and Pricing Sustainability: Beyond Good Intentions: Transform Your Go-to-Market for Sustainable Impact)
China and oil, remember? Okay, here goes. This caught me by surprise—China is the second largest importer of oil in the world, after only you-know-who. Its economy grows at nearly 10 percent and its appetite for oil is all but insatiable, growing at 8 percent a year. You see, they decided to go with cars instead of sticking with mass transit.” “Big mistake,” Jeff said. “Cars are a dead end.” “Maybe, but you need an enormous infrastructure to support a thriving car industry and it is a quick way to provide jobs while giving the industrial base a huge boost. Plus, factories that produce cars can easily be converted to military needs.” She gave him a cockeyed smile. “Remember that crack about cars when you go shopping for one next month. I’ve seen you trolling the Web sites. Anyway, within twenty years they’ll have more cars than the U.S. and that same year they’ll be importing just as much oil as we do. So here’s the deal. They don’t have it. Want to guess where they get it from?” “The Middle East?” “No surprise, huh? And who is their biggest supplier?” “Iran. Right?” “You guessed, but yes, that’s right. They signed a deal saying if Iran would give them lots of oil, China would block any American effort to get the United Nations Security Council to do anything significant about its nuclear program. They’ve been doing a lot of deals with each other ever since.” He slipped his computer into his bag. “That explains a lot.” “Oh yeah, these two countries are very cozy indeed. Anyway, China gets most of its oil from Iran. And they don’t just need oil—they need cheap oil because they sell the least expensive gasoline in the world. I think that’s to keep everybody happy driving all those new cars.
Mark E. Russinovich (Trojan Horse)
Between January 1993 and March 1994, a total of half a million machetes were imported into my country from various overseas suppliers.
Paul Rusesabagina (An Ordinary Man: An Autobiography)
When we become an autonomous organization, we will be one of the largest unadulterated digital security organizations on the planet,” he told the annual Intel Security Focus meeting in Las Vegas. “Not only will we be one of the greatest, however, we will not rest until we achieve our goal of being the best,” said Young. This is the main focus since Intel reported on agreements to deactivate its security business as a free organization in association with the venture company TPG, five years after the acquisition of McAfee. Young focused on his vision of the new company, his roadmap to achieve that, the need for rapid innovation and the importance of collaboration between industries. “One of the things I love about this conference is that we all come together to find ways to win, to work together,” he said. First, Young highlighted the publication of the book The Second Economy: the race for trust, treasure and time in the war of cybersecurity. The main objective of the book is to help the information security officers (CISO) to communicate the battles that everyone faces in front of others in the c-suite. “So we can recruit them into our fight, we need to recruit others on our journey if we want to be successful,” he said. Challenging assumptions The book is also aimed at encouraging information security professionals to challenge their own assumptions. “I plan to send two copies of this book to the winner of the US presidential election, because cybersecurity is going to be one of the most important issues they could face,” said Young. “The book is about giving more people a vision of the dynamism of what we face in cybersecurity, which is why we have to continually challenge our assumptions,” he said. “That’s why we challenge our assumptions in the book, as well as our assumptions about what we do every day.” Young said Intel Security had asked thousands of customers to challenge the company’s assumptions in the last 18 months so that it could improve. “This week, we are going to bring many of those comments to life in delivering a lot of innovation throughout our portfolio,” he said. Then, Young used a video to underscore the message that the McAfee brand is based on the belief that there is power to work together, and that no person, product or organization can provide total security. By allowing protection, detection and correction to work together, the company believes it can react to cyber threats more quickly. By linking products from different suppliers to work together, the company believes that network security improves. By bringing together companies to share intelligence on threats, you can find better ways to protect each other. The company said that cyber crime is the biggest challenge of the digital era, and this can only be overcome by working together. Revealed a new slogan: “Together is power”. The video also revealed the logo of the new independent company, which Young called a symbol of its new beginning and a visual representation of what is essential to the company’s strategy. “The shield means defense, and the two intertwined components are a symbol of the union that we are in the industry,” he said. “The color red is a callback to our legacy in the industry.” Three main reasons for independence According to Young, there are three main reasons behind the decision to become an independent company. First of all, it should focus entirely on enterprise-level cybersecurity, solve customers ‘cybersecurity problems and address clients’ cybersecurity challenges. The second is innovation. “Because we are committed and dedicated to cybersecurity only at the company level, our innovation is focused on that,” said Young. Third is growth. “Our industry is moving faster than any other IT sub-segment, we have t
Arslan Wani
Chinese family businesses instinctively thought of ways of hiding income from the tax collector. The situation is quite different in Japan, where the family is weaker and individuals are pulled in different directions by the various vertical authority structures standing above them. The entire Japanese nation, with the emperor at the top, is, in a sense, the ie of all ies, and calls forth a degree of moral obligation and emotional attachment that the Chinese emperor never enjoyed. Unlike the Japanese, the Chinese have had less of a we-against-them attitude toward outsiders and are much more likely to identify with family, lineage, or region as with nation. The dark side to the Japanese sense of nationalism and proclivity to trust one another is their lack of trust for people who are not Japanese. The problems faced by non-Japanese living in Japan, such as the sizable Korean community, have been widely noted. Distrust of non-Japanese is also evident in the practices of many Japanese multinationals operating in other countries. While aspects of the Japanese lean manufacturing system have been imported with great success into the United States, Japanese transplants have been much less successful integrating into local American supplier networks. Japanese auto companies building assembly plants in the United States, for example, have tended to bring over with them the suppliers in their network organizations from Japan. According to one study, some ninety percent of the parts for Japanese cars assembled in America come from Japan or from subsidiaries of Japanese companies in America.43 This is perhaps predictable given the cultural differences between the Japanese assembler and the American subcontractor but has understandably led to hard feelings between the two. To take another example, while Japanese multinationals have hired a great number of native executives to run their overseas businesses, these people are seldom treated like executives at the same level in Japan. An American working for a subdivision of a Japanese company in the United States might aspire to rise within that organization but is very unlikely to be asked to move to Tokyo or even to a higher post outside the United States.44 There are exceptions. Sony America, for example, with its largely American staff, is highly autonomous and often influences its parent in Japan. But by and large, the Japanese radius of trust can be fully extended only to other Japanese.
Francis Fukuyama (Trust: The Social Virtues and the Creation of Prosperity)
As with Japanese keiretsu, the member firms in a Korean chaebol own shares in each other and tend to collaborate with each other on what is often a nonprice basis. The Korean chaebol differs from the Japanese prewar zaibatsu or postwar keiretsu, however, in a number of significant ways. First and perhaps most important, Korean network organizations were not centered around a private bank or other financial institution in the way the Japanese keiretsu are.8 This is because Korean commercial banks were all state owned until their privatization in the early 1970s, while Korean industrial firms were prohibited by law from acquiring more than an eight percent equity stake in any bank. The large Japanese city banks that were at the core of the postwar keiretsu worked closely with the Finance Ministry, of course, through the process of overloaning (i.e., providing subsidized credit), but the Korean chaebol were controlled by the government in a much more direct way through the latter’s ownership of the banking system. Thus, the networks that emerged more or less spontaneously in Japan were created much more deliberately as the result of government policy in Korea. A second difference is that the Korean chaebol resemble the Japanese intermarket keiretsu more than the vertical ones (see p. 197). That is, each of the large chaebol groups has holdings in very different sectors, from heavy manufacturing and electronics to textiles, insurance, and retail. As Korean manufacturers grew and branched out into related businesses, they started to pull suppliers and subcontractors into their networks. But these relationships resembled simple vertical integration more than the relational contracting that links Japanese suppliers with assemblers. The elaborate multitiered supplier networks of a Japanese parent firm like Toyota do not have ready counterparts in Korea.9
Francis Fukuyama (Trust: The Social Virtues and the Creation of Prosperity)
Protectionist measures may permit domestic industries to thrive, which under free trade would wither in the face of cheap imports. Imports may be opposed by the government in the public interest--for example because it thinks it imprudent to rely upon foreign suppliers of certain strategic goods such as staple foods, energy, or military equipment, or because it wishes to nurture an infant industry as yet too weak to compete internationally, or because it wishes to preserve traditional industries such as fishing in order to preserve employment and local communities.
Vaughan Lowe
The decisive factor is to supply the customer with a clear advantage when compared with the competition. Such a “strategic” competitive advantage must fulfill three criteria: it must be 1. important for the customer;   2. actually perceived by the customer; and   3. sustainable/difficult to copy.   If, for example, the packaging of a product is unimportant for the customer, it is unsuitable as a competitive advantage. If a product has a particularly long life span, but the customer is not aware of this advantage or does not perceive it, this advantage cannot influence the customer’s decision to purchase and does not help the supplier. If a company ruins its margin by reducing a price, the low price advantage cannot be sustained.8 Simultaneous fulfillment of the three criteria “important, perceived, sustainable” is a significant challenge.
Hermann Simon (Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders)
Ishaat Hussain, a director on the board of Tata Capital Ltd, said that big industrial houses like the Tatas and the Birlas do not face any difficulty in accessing bank finance, but their customers and suppliers find it difficult. HDFC Bank grabbed that important niche. It became a pioneer in vendor and dealer financing.
Tamal Bandopadhyaya (A Bank for the Buck)
Elite performers build human connections. Business is about relationships. Nothing is more important than building emotional engagement with your teammates, with your suppliers and with your customers.
Robin Sharma (The Mastery Manual)
Perhaps the most common device for giving people focus and direction is goal setting, but goals, as often as they are used, have their pros and cons. Sure, if you can convince everybody that profits must increase 20% next quarter or we’re going out of business, people will hurry around looking for ways to hype profits by 20%. When discussing “mission” I assigned Susan a goal of 25% improvement in sales, based on what I calculated was needed to avoid closing the factory and on what I felt her district could reasonably provide. It was not a number pulled from the ether, and I went to some length to explain this to her. Short of any such basis in reality, people will often do the easiest things, such as firing 20% of the workforce, canceling vital R&D programs, or simply not making any payments to suppliers. In other words, they will take achieving the goal as seriously as they feel you were in setting it; they will sense whether you have positioned yourself at the Schwerpunkt. Goals, as we all know, can be motivators. Cypress Semiconductor, a communications-oriented company founded in 1982, used to have a computer that tracked the thousands of self-imposed goals that its people fed into the system. Cypress founder T. J. Rodgers identified this automated goal tending system as the heart of his management style and a big factor in the company’s early success.136 Frankly, I find this philosophy depressing, not to mention a temptation to focus inward: If the boss places great importance on entering and tracking goals, as he obviously does, then that is what the other employees are going to consider important.137 In any case, what’s the big deal about meeting or missing a goal? A goal is an intention at a point in time. It is, to a large extent, an arbitrary target, whether you set it or someone above you assigns it. And we all know that numerical goals can be gamed, like banking (delaying) sales that we could have made this quarter to help us make quota next quarter. Unlike a Schwerpunkt, which gives focus and direction for chaotic and uncertain situations, what does a goal tell you? Just keep your head down and continue plugging away?
Chet Richards (Certain to Win: The Strategy of John Boyd, Applied to Business)
when we ranked the list according to impact, we found seven in particular that rose way above the others in terms of importance: Rep offers unique and valuable perspectives on the market. Rep helps me navigate alternatives. Rep provides ongoing advice or consultation. Rep helps me avoid potential land mines. Rep educates me on new issues and outcomes. Supplier is easy to buy from. Supplier has widespread support across my organization. Now,
Matthew Dixon (The Challenger Sale: Taking Control of the Customer Conversation)
Test the market with samples first, if you can, to know what is really going to sell. • If possible, don’t build inventory in large quantities and eat up cash unless the business has the orders in its hands. • Try to find strategic partners that have quick turnarounds for building inventory. • Unless you have real-time data on customer demand and have an extremely tight connection to your suppliers, you’ll never get inventory forecasting exactly right. • Err on the side of less rather than more inventory as a rule of thumb. • If you have to make a trade-off between paying more per unit in COGS to reduce the cycle time to build inventory, choose the higher COGS and reduced production time. You’ll be placing smaller orders with greater frequency, turning inventory faster and cash faster. Read this point again—it’s not very complicated (place smaller orders, more frequently), but it’s really, really important for managing your inventory.
Dawn Fotopulos (Accounting for the Numberphobic: A Survival Guide for Small Business Owners)
Leaders can facilitate better decisions in their organizations by encouraging others to make comparisons when facing important decisions. Comparisons can be particularly relevant in the realms of hiring, choosing an acquisition target, and deciding which project to fund or which supplier to use.33 Comparison steers us toward System 2 thinking, greater deliberation, and better decisions.
Don A. Moore (Decision Leadership: Empowering Others to Make Better Choices)
we need simply look at how capitalism changed after the idea of shareholder supremacy took over—which only happened in the final decades of the twentieth century. Prior to the introduction of the shareholder primacy theory, the way business operated in the United States looked quite different. “By the middle of the 20th century,” said Cornell corporate law professor Lynn Stout in the documentary series Explained, “the American public corporation was proving itself one of the most effective and powerful and beneficial organizations in the world.” Companies of that era allowed for average Americans, not just the wealthiest, to share in the investment opportunities and enjoy good returns. Most important, “executives and directors viewed themselves as stewards or trustees of great public institutions that were supposed to serve not just the shareholders, but also bondholders, suppliers, employees and the community.” It was only after Friedman’s 1970 article that executives and directors started to see themselves as responsible to their “owners,” the shareholders, and not stewards of something bigger. The more that idea took hold in the 1980s and ’90s, the more incentive structures inside public companies and banks themselves became excessively focused on shorter-and-shorter-term gains to the benefit of fewer and fewer people. It’s during this time that the annual round of mass layoffs to meet arbitrary projections became an accepted and common strategy for the first time. Prior to the 1980s, such a practice simply didn’t exist. It was common for people to work a practical lifetime for one company. The company took care of them and they took care of the company. Trust, pride and loyalty flowed in both directions. And at the end of their careers these long-time employees would get their proverbial gold watch. I don’t think getting a gold watch is even a thing anymore. These days, we either leave or are asked to leave long before we would ever earn one.
Simon Sinek (The Infinite Game)
Applying a value lens to stakeholder capitalism, two ideas strike me as particularly important. First, business creates substantial value for customers, employees, and suppliers even if its only goal is to maximize financial returns. Think of all the stories in this book—Best Buy, Apple, Michelin, Quest, Intel, Tommy Hilfiger, and many more. Every one of them is testament to the ability of business to create significant customer delight, employee satisfaction, and supplier surplus. Competition is our best assurance that companies continue to innovate in service to these stakeholders. Second,
Felix Oberholzer-Gee (Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance)
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Brad Stone (The Everything Store: Jeff Bezos and the Age of Amazon)
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Dileep Rao (Nothing Ventured, Everything Gained: How Entrepreneurs Create, Control, and Retain Wealth Without Venture Capital)
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