Supplier Appreciation Quotes

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.

Michael was wrapping up a speech. He said: Spectra is a company run by people, and we take your health very seriously. As our business relies on overseas suppliers, especially those in southern China, we are taking precautionary measures with this announcement of Shen Fever. We are working in accordance with the New York State Department of Health and the Centers for Disease Control and Prevention. In the next few weeks, we will keep you abreast of new updates for keeping you safe. We would appreciate your cooperation and compliance.

We found that suppliers of nonstrategic products and services don’t fully appreciate this purchasing task. So when they try to land a deal, they make two common mistakes. THEY FOCUS DOGGEDLY ON THEIR OFFERINGS’ DISTINCTIVE FEATURES EVEN WHEN CUSTOMERS DON’T WANT OR NEED THEM. The hope is that features that go beyond the specifications will win over the customer and get him or her to pay a premium. But trying to persuade a skeptical customer that such extras will add value is no easy task,

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And we're cheerful, too. You can count on that.' Obligingly she smiled in a neighbourly way at him. 'It will be a relief to leave Earth with its repressive legislation. We were listening OH the FM to the news about the McPhearson Act.' 'We consider it dreadful,' the adult male said. 'I have to agree with you,' Chic said. 'But what can one do?' He looked around for the mail; as always it was lost somewhere in the mass of clutter. 'One can emigrate,' the adult male simulacrum pointed out. 'Um,' Chic said absently. He had found an unexpected heap of recent-looking bills from parts suppliers; with a feeling of gloom and even terror he began to bills from parts suppliers; with a feeling of gloom and even terror he began to sort through them. Had Maury seen these? Probably. Seen them and then pushed them away immediately, out of sight. Frauenzimmer Associates functioned better if it was not reminded of such facts of life. Like a regressed neurotic, it had to hide several aspects of reality from its percept system in order to function at all. This was hardly ideal, but what really was the alternative? To be realistic would be to give up, to die. Illusion, of an infantile nature was essential for the tiny firm's survival, or at least so it seemed to him and Maury. In any case both of them had adopted this attitude. Their simulacra -- the adult ones -- disapproved of this; their cold, logical appraisal of reality stood in sharp contrast, and Chic always felt a little naked, a little embarrassed, before the simulacra; he knew he should set a better example for them. 'If you bought a jalopy and emigrated to Mars,' the adult male said, 'We could be the famnexdo for you.' 'I wouldn't need any family next-door,' Chic said, 'if I emigrated to Mars. I'd go to get away from people. 'We'd make a very good family next-door to you,' the female said. 'Look,' Chic said, 'you don't have to lecture me about your virtues. I know more than you do yourselves.' And for good reason. Their presumption, their earnest sincerity, amused but also irked him. As next-door neighbours this group of sims would be something of a nuisance, he reflected. Still, that was what emigrants wanted, in fact needed, out in the sparsely-populated colonial regions. He could appreciate that; after all, it was Frauenzimmer Associates' business to understand. A man, when he emigrated, could buy neighbours, buy the simulated presence of life, the sound and motion of human activity -- or at least its ​mechanical nearsubstitute to bolster his morale in the new environment of unfamiliar stimuli and perhaps, god forbid, no stimuli at all. And in addition to this primary psychological gain there was a practical secondary advantage as well. The famnexdo group of simulacra developed the parcel of land, tilled it and planted it, irrigated it, made it fertile, highly productive. And the yield went to the it, irrigated it, made it fertile, highly productive. And the yield went to the human settler because the famnexdo group, legally speaking, occupied the peripheral portions of his land. The famnexdo were actually not next-door at all; they were part of their owner's entourage. Communication with them was in essence a circular dialogue with oneself; the famnexdo, it they were functioning properly, picked up the covert hopes and dreams of the settler and detailed them back in an articulated fashion. Therapeutically, this was helpful, although from a cultural standpoint it was a trifle sterile.

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In two years of research the best example of self-disruption I can find is Netflix. Netflix’s transition to streaming from DVD rental by mail was not nearly as smooth as many would like to remember it, but in hindsight it appears genius. Netflix was founded in 1997 as a DVD mail service and pretty rapidly rose to take huge market share from local video stores who could not compete with its vast range of titles. People soon appreciated the appeal of no late fees, the ability to have several movies out at the same time, as well as its unlimited consumption tariff. Always keen to keep abreast of the latest technology, in 2007 Netflix spent about $40 million to build data centres and to cover the cost of licensing for the initial streaming titles (Rodriguez, 2017). When internet speeds allowed, it introduced streaming as an additional service for its existing subscribers. Monthly fees remained the same, but those with more expensive tariffs were given access to more hours of streamed content. While it added something for free, it also helped give people a reason to upgrade to more expensive plans. Growth was impressive, the video libraries of streamed content rose, the share price rose impressively from $3 in 2007 to over $42 in 2011, and life was good. In September 2011 Netflix made a very bold move. It created two tariffs, and moved all its US subscribers onto two separate plans: the original DVD-by-mail service was to be called Qwikster; the other was a streaming service for a lower monthly fee. The market was shocked, and by December the stock price was below $10 and the company was in pieces. The company rapidly lost higher revenue DVD subscribers and within nine months profits were down by 50 per cent (Steel, 2015). And yet slowly things changed. First, the lower prices suddenly appealed to a much wider market, bringing in far more paying customers, allowing Netflix to buy more content and to slowly raise prices. Then Netflix started making its own original content, clearing out global streaming rights, and then at a flick of a switch it was able to expand globally. If Netflix had not disrupted itself it would be a very different company. It would rely on a massive physical distortion system, with very high costs. It would probably have lost out massively to YouTube and would have withered away as a mail-order DVD supplier. Instead, Netflix’s share price is now nearly $200, five times more than it was when it bravely self-disrupted, it operates in 190 countries, makes nearly $9 billion in revenue from over 110 million customers (Feldman, 2017). Today DVDs represent only 4 per cent of Netflix’s users. It seems that in 2011, when Wall Street was demanding the resignation of Reed Hastings for reinventing the business, they were wrong. From this you can see the pressure this approach places on leaderships, the confidence you need to have, the degree to which this antagonizes the market and everyone around you. This move takes balls. The confidence, conviction, and aggression, to change before you have to create your own future, is remarkable.

You need to get to know who your constituents are, how they feel, and what they think. You need to repeatedly walk the halls and plant floors, regularly meet with small groups, and frequently hit the road for visits with associates, key suppliers, and customers. Paying attention, personalizing recognition, and creatively and actively appreciating others increases their trust in you.

we might not be fully appreciating Bach’s output if we take him simply or essentially to be a supplier of pitches, rhythms, and tone colors, however marvelous or magnificent these rich aspects of his works may indeed be. Likewise, we might not fully appreciate the range of plausible meanings projected by Bach’s works if we simply analyze the verbal content of his librettos. Accepting the idea that Bach’s musical settings can theologically expand upon and interpret his librettos need not involve downplaying the aesthetic splendor of his works. I would like to suggest, moreover, that insisting on exclusively aesthetic contemplation of Bach’s music potentially diminishes its meanings and actually reduces its stature.

Questions to ask when analyzing a business Business - How does the company make money? - Does it seem like it should be a good business? Is it competitive? Do suppliers have too much power? Do customers value the product? Are there substitutes? - Without looking at financials, how does the company seem like it has done against competitors in its industry in terms of executing on its vision? - What reputation does the management team have? Do they seem honest? Straightforward? Valuation - What is the company's P/E multiple? Is it high or low for its industry? For the overall market right now? Why might the stock be trading at this valuation? - What is the company's free-cash flow yield? Is this a relevant metric given the stage the company is in? How does it compare to similar companies? - Is the company growing faster or more slowly than other companies with similar multiples? - Based on the number alone, does the company seem to have a rich valuation or a cheap valuation? Why might this be the case? Financials - What has been the trajectory of revenue growth over the past ten years? Why? What is it expected to do in the future? - How has the company's industry been growing? Is the company gaining or losing share in its industry? - What is the company’s level of profit margins? How does it compare to other companies in its industry? - How have margins varied over the past ten years? Why? - What percentage  of the company's costs are fixed costs versus variable costs? - What is the company's historical return on capital? Why is it high/low? What does this say about the quality of the business? - What is the trend in returns on capital? Why? What does this say about the returns the company will have to make on its future investments? - What is the company's dividend policy? Why? If they are paying no dividend or a small dividend, is there a danger that the company's management will waste shareholder's money? Technical - How have the company's shares performed against the overall market and its industry over the past twelve months? - What seems to be driving this under/over performance? - What key news events are likely to impact the stock in the future? - Do mutual funds and other large institutional investors seem to be buying or selling the shares? Sentiment and Expectations - What are the consensus earnings estimates for the next quarter and year? Do they seem aggressive or conservative? - Does consensus opinion seem overly bullish or bearish about the company's future prospects? - What insight do you have that the market might be missing that will cause the shares to appreciate?