Supplier Business Quotes

Businesses are at all times and in different ways accountable to employees, suppliers, customers and community.

The essence of Relationship Selling is when we convert a customer into a client and the seller gains the status of a supplier. It is really a process of forming a business partnership, where each partner not only transacts business but is interdependent in a mutually beneficial relationship, with a common growth objective. Sales can be:    B2B (Business to Business)  B2C (Business to Consumer)  Direct or indirect selling

Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don't need to impress people I don't like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don't have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won't last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don't have to seem them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world.

In dated Industrial models, products and services flowed linearly from suppliers to manufacturers to distributors to consumers. But in a permaculture economy model, people and businesses are involved in a value web whereby they may each hold more than one of those roles and each entities role is more hybridized. It’s about cyclical co-creation and cyclical co-consumption.

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.

The Model Will Provide Consistent Value to Your Customers, Employees, Suppliers, and Lenders, Beyond What They Expect

Why would you ever do business with me? Why would you ever change from your existing supplier? They’re great!

Regardless of whether you’re trying to convince someone to support your favorite charity, eat healthier, switch their business from their current supplier to your firm, or just adopt a new way of working at the office, one of the most common explanations for lack of persuasive success is also one of the simplest: People recognize they should change their behavior, but they just don’t feel like doing it right now.

In North America, some companies rotated purchasing agents so they didn’t get buddy-buddy with suppliers, for fear of kickbacks. I found company relationships in Japan to be so close that a Japanese manufacturer might have only one supplier for any one part.

Digital locks are roach motels: copyrighted works check in, but they don’t check out. Creators and investors lose control of their business—they become commodity suppliers for a distribution channel that calls all the shots. Anti-circumvention isn’t copyright protection: it’s middleman protection.

Recently, as I was teaching this concept, a CFO—who deals with numbers all the time—came up to me and said, “This is fascinating! I’ve always seen trust as a nice thing to have, but I never, ever, thought of it in terms of its impact on economics and speed. Now that you’ve pointed it out, I can see it everywhere I turn. “For example, we have one supplier in whom we have complete trust. Everything happens fast with this group, and the relationship hardly costs us anything to maintain. But with another supplier, we have very little trust. It takes forever to get anything done, and it costs us a lot of time and effort to support the relationship. And that’s costing us money—too much money!” This CFO was amazed when everything suddenly fell into place in his mind. Even though he was a “numbers” guy, he had not connected the dots with regard to trust. Once he saw it, everything suddenly made sense. He could immediately see how trust was affecting everything in the organization, and how robust and powerful the idea of the relationship between trust, speed, and cost was for analyzing what was happening in his business and for taking steps to significantly increase profitable growth.

Mass production was aimed at new sources of demand in the early twentieth century’s first mass consumers. Ford was clear on this point: “Mass production begins in the perception of a public need.”73 Supply and demand were linked effects of the new “conditions of existence” that defined the lives of my great-grandparents Sophie and Max and other travelers in the first modernity. Ford’s invention deepened the reciprocities between capitalism and these populations. In contrast, Google’s inventions destroyed the reciprocities of its original social contract with users. The role of the behavioral value reinvestment cycle that had once aligned Google with its users changed dramatically. Instead of deepening the unity of supply and demand with its populations, Google chose to reinvent its business around the burgeoning demand of advertisers eager to squeeze and scrape online behavior by any available means in the competition for market advantage. In the new operation, users were no longer ends in themselves but rather became the means to others’ ends. Reinvestment in user services became the method for attracting behavioral surplus, and users became the unwitting suppliers of raw material for a larger cycle of revenue generation.

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The shareholders who own the businesses in this book have other, nonfinancial priorities in addition to their financial objectives. Not that they don’t want to earn a good return on their investment, but it’s not their only goal, or even necessarily their paramount goal. They’re also interested in being great at what they do, creating a great place to work, providing great service to customers, having great relationships with their suppliers, making great contributions to the communities they live and work in, and finding great ways to lead their lives. They’ve learned, moreover, that to excel in all those things, they have to keep ownership and control inside the company and, in many cases, place significant limits on how much and how fast they grow. The wealth they’ve created, though substantial, has been a byproduct of success in these other areas. I call them small giants.

Overnight, however, he apparently had second thoughts, or did some textbook reading on his own, and at the next meeting he turned to me as the first order of business. “On the black paint,” he said, “you were right about the advantages and I was wrong.” He handed me a quarter. It was a rare win. So Kelly approved my idea of painting the airplane black, and by the time our first prototype rolled out the airplane became known as the Blackbird. Our supplier, Titanium Metals Corporation, had only limited reserves of the precious alloy, so the CIA conducted a worldwide search and, using third parties and dummy companies, managed to unobtrusively purchase the base metal from one of the world’s leading exporters—the Soviet Union. The Russians never had an inkling of how they were actually contributing to the creation of the airplane being rushed into construction to spy on their homeland.

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understand that there are rules to follow if you are to win: 1. The model will provide consistent value to your customers, employees, suppliers, and lenders, beyond what they expect. 2. The model will be operated by people with the lowest possible level of skill. 3. The model will stand out as a place of impeccable order. 4. All work in the model will be documented in Operations Manuals. 5. The model will provide a uniformly predictable service to the customer. 6. The model will utilize a uniform color, dress, and facilities code.

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.

Forget the contracting end,” says Jocelyn. “It’s a sideshow. The main deal is the prison. Prisons used to be about punishment, and then reform and penitence, and then keeping dangerous offenders inside. Then, for quite a few decades, they were about crowd control – penning up the young, aggressive, marginalized guys to keep them off the streets. And then, when they started to be run as private businesses, they were about the profit margins for the prepackaged jail-meal suppliers, and the hired guards and so forth.” Stan nods; he understands all of this.

In the mid-1980s, Congress authorized the creation of the US Sentencing Commission to examine prison terms and codify norms to correct the arbitrary punishments meted out by unaccountable judges. First, in 1989 the commission’s guidelines for individuals went into effect, establishing a point system for how many years of prison a convicted criminal might get, based on the seriousness of the misconduct and a person’s criminal history. In 1991, amid public and congressional outrage that sentences for white-collar criminals were too light and fines and sanctions for corporations too lenient, the Sentencing Commission expanded the concept to cover organizations. It formalized the Sporkin-era regime of offering leniency in exchange for cooperation and reform. The new rules delineated factors that could earn a culprit mercy. In levying a fine, the court should consider, the sentencing guidelines said, “any collateral consequences of conviction.” 1 “Collateral consequences” was, and remains, an ill-defined concept. How worried should the government be if a punishment causes a company to go out of business? Should regulators worry about the cashiering of innocent employees? What about customers, suppliers, or competitors? Should they fret about financial crises? From this rather innocuous mention, the little notion of collateral consequences would blossom into the great strangling vine that came to be known after the financial crisis of 2008 by its shorthand: “too big to jail.” Prosecutors and regulators were crippled by the idea that the government could not criminally sanction some companies—particularly giant banks—for fear that they would collapse, causing serious problems for financial markets or the economy.

great. This is a good description of Rovio, which was around for six years and underwent layoffs before the “instant” success of the Angry Birds video game franchise. In the case of the Five Guys restaurant chain, the founders spent fifteen years tweaking their original handful of restaurants in Virginia, finding the right bun bakery, the right number of times to shake the french fries before serving, how best to assemble a burger, and where to source their potatoes before expanding nationwide. Most businesses require a complex network of relationships to function, and these relationships take time to build. In many instances you have to be around for a few years to receive consistent recognition. It takes time to develop connections with investors, suppliers, and vendors. And it takes time for staff and founders to gain effectiveness in their roles and become a strong team.* So, yes, the bar is high when you want to start a company. You’ll have the chance to work on something you own and care about from day to day. You’ll be 100 percent engaged and motivated, and doing something you believe in. You can lead an integrated life, as opposed to a compartmentalized one in which you play a role in an office and then try to forget about it when you get home. You can define an organization, not the other way around. But even if you quit your job, hunker down for years, work hard for uncertain reward, and ask everyone you know for help, there’s still a great chance that your new business will not succeed. Over 50 percent of companies fail within their first three years.2 There’s a quote I like from an unknown source: “Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.

that speaks to the little secret behind the relationships that small giants have with their suppliers and customers. It’s generally not the people at the top of the organization who create the intimate bonds. It’s the managers and employees who do the work of the business day in and day out. They are the ones who convey the spirit of the company to the outside world. Accordingly, they are the company’s first priority—which, from one perspective, is ironic. For all the extraordinary service and enlightened hospitality that the small giants offer, what really sets them apart is their belief that the customer comes second.

Consider the average worker in almost any urban industrialized city. The alarm rings at six forty-five and our workingman or -woman is up and at it. Check the phone. Shower. Dress in the professional uniform—suits for some, coveralls for others, scrubs for the medical professionals, jeans and T-shirts for construction workers. Breakfast, if there’s time. Grab commuter mug and briefcase (or lunch box). Hop in the car for the daily punishment called rush hour or get on a bus or train packed crushingly tight. On the job from nine to five (or longer). Deal with the boss. Deal with the coworker sent by the devil to rub you the wrong way. Deal with suppliers. Deal with clients/customers/patients. E-mails pile up. Act busy. Scroll through social media feeds. Hide mistakes. Smile when handed impossible deadlines. Give a sigh of relief when the ax known as “restructuring” or “downsizing”—or just plain getting laid off—falls on other heads. Shoulder the added workload. Watch the clock. Argue with your conscience but agree with the boss. Smile again. Five o’clock. Back in the car or on the bus or train for the evening commute. Home. Act human with your partner, kids, or roommates. Cook. Post a picture of your dinner online. Eat. Watch an episode of your favorite show. Answer one last e-mail. Bed. Eight hours of blessed oblivion—if we’re lucky.

Cook reduced the number of Apple’s key suppliers from a hundred to twenty-four, forced them to cut better deals to keep the business, convinced many to locate next to Apple’s plants, and closed ten of the company’s nineteen warehouses. By reducing the places where inventory could pile up, he reduced inventory. Jobs had cut inventory from two months’ worth of product down to one by early 1998. By September of that year, Cook had gotten it down to six days. By the following September, it was down to an amazing two days’ worth. In addition, he cut the production process for making an Apple computer from four months to two. All of this not only saved money, it also allowed each new computer to have the very latest components available.

Danny Meyer of Union Square Hospitality Group talked about businesses having soul. He believed soul was what made a business great, or even worth doing at all. “A business without soul is not something I’m interested in working at,” he said. He suggested that the soul of a business grew out of the relationships a company developed as it went along. “Soul can’t exist unless you have active, meaningful dialogue with stakeholders: employees, customers, the community, suppliers, and investors. When you launch a business, your job as the entrepreneur is to say, ‘Here’s a value proposition that I believe in. Here’s where I’m coming from. This is my point of view.’ At first, it’s a monologue. Gradually it becomes a dialogue and then a real conversation.

By trying to eliminate the sexual division of labor that was the basis for family life, feminists have not created a gender-neutral utopia, with men and women interchangeably caring for children and earning wages. Instead, they have merely placed women as well as men on the employment treadmill. By flooding the workforce with new workers, they have driven down male wages, intensifying pressures on families to send the woman into the workforce and for the man to work longer hours, giving him less involvement with his family. The result is “big business socialism,” where every adult must work and provide tax revenue for the growing state machinery. Meanwhile children are institutionalized in day care and extended school days and activities for ever-longer hours at ever-younger ages, their childhoods regimented in preparation for similar lives as worker bees and suppliers of state revenue.

Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don’t need to impress people I don’t like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don’t have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won’t last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don’t have to see them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world.

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I also worried about her morale. During Linda’s first season working for Amazon, she had seen up close the vast volume of crap Americans were buying and felt disgusted. That experience had planted a seed of disenchantment. After she left the warehouse, it continued to grow. When she had downsized from a large RV to a minuscule trailer, Linda had also been reading about minimalism and the tiny house movement. She had done a lot of thinking about consumer culture and about how much garbage people cram into their short lives. I wondered where all those thoughts would lead. Linda was still grappling with them. Weeks later, after starting work in Kentucky, she would post the following message on Facebook and also text it directly to me: Someone asked why do you want a homestead? To be independent, get out of the rat race, support local businesses, buy only American made. Stop buying stuff I don’t need to impress people I don’t like. Right now I am working in a big warehouse, for a major online supplier. The stuff is crap all made somewhere else in the world where they don’t have child labor laws, where the workers labor fourteen- to sixteen-hour days without meals or bathroom breaks. There is one million square feet in this warehouse packed with stuff that won’t last a month. It is all going to a landfill. This company has hundreds of warehouses. Our economy is built on the backs of slaves we keep in other countries, like China, India, Mexico, any third world country with a cheap labor force where we don’t have to see them but where we can enjoy the fruits of their labor. This American Corp. is probably the biggest slave owner in the world. After sending that, she continued: Radical I know, but this is what goes through my head when I’m at work. There is nothing in that warehouse of substance. It enslaved the buyers who use their credit to purchase that shit. Keeps them in jobs they hate to pay their debts. It’s really depressing to be there. Linda added that she was coping

Wal-Mart can't seem to grasp an essential fact: in 2006, the company has exactly the reputation it has earned. No, we don't give the company adequate credit for low prices. But the broken covenant Sam Walton had with how to treat store employees, the relentless pressure that hollows out companies and dilutes the quality of their products, the bullying of suppliers and communities, the corrosive secrecy, the way Wal-Mart has changed our own perception of price and quality, of value and durability--none of these is imaginary, or trivial, or easily changed with a fresh set of bullet points, an impassioned speech, and a website heavy with "Wal-Mart facts". If Wal-Mart does in fact double the gas mileage of its truck fleet, and thereby double the gas mileage of every long-haul truck in America, that will be huge. It will change gas consumption in the United States in a single stroke. But it hasn't happened yet. And even if it does, it will not make Wal-Mart a good company or a good corporate partner or a good corporate citizen.

The right Brand Promise isn’t always obvious. Naomi Simson — founder of one of the fastest-growing companies in Australia, RedBalloon — was sure she knew what to promise customers who want to give experiences such as hot air balloon rides as gifts, rather than flowers and chocolates. Her promises included an easy-to-use website for choosing one of over 2,000 experiences; recognizable packaging and branding (think Tiffany blue, only in red); and onsite support. It wasn’t until a friend and client mentioned that she was using the website as a source of ideas — but buying the experiences directly from the vendors — that Simson had an “Aha!” moment. She realized that other customers might be doing the same thing, assuming that RedBalloon must be marking up the price of the experiences to cover the costs of the website, packaging, and onsite support. To grow the business, she promised customers they would pay no more for the experiences they bought through RedBalloon than for those purchased directly from the suppliers; otherwise, customers would get 100% of their fee refunded. The company calls this promise, which is technically a pricing guarantee, a “100% Pleasure Guarantee,” to fit its brand.

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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.

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Wars are expensive, and the burden of supporting wars falls heavily on business, both directly and by taking spending money out of the pocket of the consumer. The vast amount of money poured out to support a war is permanently gone without bringing any economic return. After you have exploded a hundred thousand dollars worth of bombs, you have nothing to show for it except a hundred thousand dollars worth of bomb craters and rubble. Thus the gains made by munitions makers and government suppliers are more than swallowed up by the losses suffered by business as a whole. Those few who do make huge fortunes from war do so not because they are businessmen operating in a free market, but because they have political pull. And their profiteering from war harms all producers (as well as the consuming public) by hurting the economy as a whole.

Texting and social media aren’t a good substitute for everything; they can’t fill in for a needed heart transplant, or if you are on the verge of not having enough food to eat. But it’s remarkable how many of our daily activities they can substitute for, as evidenced by the big time shift to those activities in so many of our daily lives. And that is the great unheralded virtue of the mobile internet. It’s not only fun but also a kind of near-universal consumption substitute that constrains monopoly power in many invisible ways. You call it addiction; I call it trust-busting. These days, virtually all suppliers, whether they know it or not, are competing with Facebook, social media, and texting. That’s a hard battle to win.

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The Business Roundtable is a powerful and conservative representative of big business that since 1997 has reinforced the idea that ‘corporations exist principally to serve shareholders’ – in other words, that business exists to make money. The 2019 statement upended that principle, suggesting that businesses have responsibilities not just to shareholders but to customers, employees, suppliers and communities. ‘Each of our stakeholders is essential,’ the statement read. ‘We commit to deliver value to all of them, for the future success of our companies, our communities and our country.

As a physics major, before getting her hands dirty in New York, she had assumed that money is printed by a nation’s central bank, from where it is distributed to commercial banks. But while this is indeed how cash is created, cash accounts for only 3 per cent of all money. What of the remaining 97 per cent? Surprise and then foreboding were the reactions of every student to whom she had explained how the missing 97 per cent was created – and by whom: not by central banks but by commercial and investment bankers. At this point, her students would ask, ‘Without access to state-sanctioned printing presses, how do private bankers create money?’ ‘Simple,’ she would reply. ‘Every time a banker approves a loan of, say, one million dollars for Jack, a typical business customer, the banker just types 1,000,000 on Jack’s bank statement. However incredible it may seem, that’s all it takes. Bankers create money by granting loans by typing in some numbers!’ The crucial thing, she would explain, is that these numbers are typed into a shared database – or ledger – to which only the bankers have access. When their customers transfer this ‘money’ between them – when Jack transfers numbers from his account to the account of a supplier, say Jill, or of a builder, say Bob, or of a worker, say Kate, and when in turn, Jill, Bob and Kate transfer their numbers on, in the same way, to others to whom they owe money – these numbers simply migrate from one cell in the database to another. For this system to be sustainable, and not merely a pyramid scheme, there is a single condition: that, somewhere down the line, the one million dollars which some banker typed into existence on Jack’s behalf results in new goods and services whose total market value exceeds one million dollars. It is from this surplus that the banker takes his interest and Jack his profit. This is what Iris was referring to as a fool’s wager when she said that bankers plundered value from the future, or when Costa had once claimed that capitalism, like science fiction, trades in future assets using fictitious currency. It is in their nature that the wealthier bankers become by creating money, the more money they tend to create. The danger of such a system, of course, is that the banks end up typing into existence sums of money vastly larger than the market value of the goods and services created as a result of Jack, Jill, Bob and Kate’s endeavours. At the point when the bankers have collectively created money sums greater than the resulting values, the present can no longer repay the future for the money it borrowed from it. The moment Jack, Jill, Bob and Kate get a whiff of this, they may demand their bank balances in cash, sensing that the total value on the bankers’ database is lower than the actual value of their customers’ assets. ‘At that point, a bank run sets in,’ Eva would tell her students, ‘and that’s when the system comes crashing down.

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.

Altogether, the world of autos—and their fuel suppliers—has become the arena for a new kind of competition. It is no longer just about selling cars to consumers for personal use. No longer just automakers versus automakers, no longer gasoline brands versus gasoline brands. It has become multidimensional. Gasoline-powered cars versus electric cars. Personal ownership of cars versus mobility services. And people-operated cars versus robotic driverless cars. The result is a battle among technologies and business models, and a struggle for market share. Change does happen, just not overnight

We rely exclusively on honest signals from businesses that, as in the natural world, are costly to produce. These include past operating and financial performance and scuttlebutt signals from suppliers, customers, competitors, ex-employees, and industry experts.

The latter more than ever need to interact with a diverse workforce, as well as with a diverse customer and supplier base, and therefore require a certain level of cultural competence.

I was in charge of decisions and marketing, and Sean was in charge of research and operations. When we were trying to identify our target customer, he spent a ton of time putting together spreadsheets comparing all the different markets we should consider. When he showed them to me and asked me what I thought, I replied, “Yoga.” Huh? “We could easily do multiple products serving people who do yoga,” I told him. “It’s an emerging trend. And I know a ton of those people; I can ask them what they want. Let’s start a yoga business.” Sean’s initial response was, “That’s not a quantitative analysis, Ryan!” I’ve never been one to overthink things—most people spend way too much time in the research period. I make decisions fast and adjust later. With our target customer identified, we made a list of possible products and chose our gateway product—a yoga mat. With that, we began the process of product development. We looked up the top-selling yoga mats on Amazon and read through the reviews; we asked questions on Facebook groups, subreddits, and Instagram influencer accounts. It didn’t take long before we had an idea of the main pain points we needed to address with our first product. I remembered Don’s advice and began looking for people to make the product. With a quick scroll and a click, we could choose between a wholesaler in China, a private label supplier out of India, or a contract manufacturer in Vietnam. For about fifty bucks, we were able to order a set of yoga mat samples that had the exact features we were looking for. It was that easy. Samples in hand, we needed to refine our product idea to make sure we were really hitting the pain points we’d identified. At that time, I’d done yoga maybe two or three times in my life, and I wasn’t nearly the right demographic for our mats anyway. That forced me to ask questions. We were targeting yoga-loving millennials, so I went where they often congregate: Starbucks. There, I did the kind of tough field work that really makes an entrepreneur sweat: asking young women questions over coffee. “Which yoga mat do you prefer? Why?” “What makes the difference between a bad yoga mat and a good one?” “What’s wrong with your current yoga mat?” “What do you think of this one? And what about this one?” Next, I headed over to local yoga studios to see how our samples stacked up against the strenuous demands of a yoga class. A few classes later, Sean and I had everything we needed to narrow down our product development. Armed with all our data, we went back to the manufacturers. From a couple yoga-clueless guys, we’d become knowledgeable enough to know not just what a good yoga mat looked like, but how it had to feel and perform. We knew what we needed our yoga mat to do. Now we just had to find the manufacturer to supply it.

It didn’t take long to find some willing partners. We set down the specifications, and Sean talked to all the manufacturers who said they could fulfill our requests. We narrowed it down to two quality options, and then we choose the one with the best price and the best communication. Sean ordered the prototype, had it embossed with our brand logo—Zen Active—and in no time at all, we unrolled our first yoga mat on the floor in Sean’s house. That was our yoga mat. It was our product, with our specifications, with our logo, in Sean’s house, ready for sale. And all it took was one website and a lot of groundwork asking questions. Now, I’m not saying we got the product totally right on our first try. We made some mistakes, and we made adjustments to improve the product over time, but the basics of taking an idea and making it a ready-for-market product really is this simple. All you have to do is find the suppliers, do the research, make the tweaks, and find the best offer out there. Find

Find Your Supplier I’ve come to trust and rely on suppliers from Alibaba.com, but I know it has its detractors. When it comes to user experience, the site is, frankly, a bit of a mess. There’s also a certain distance between you and the supplier that the more firm-handshake-loving, look-them-in-the-eye-while-you’re-negotiating types don’t like. These days, though, Alibaba has a lot of competition, so there are plenty of options out there if you want a different path to your product. You can search for wholesalers, manufacturing companies, or contract manufacturers for your chosen product and find any number of smaller companies you can contact personally to get that more direct experience. Or, if you’re feeling particularly old-fashioned, you can attend a trade show in the market you’re going into. Find out where the next event is, hop on a plane, and go speak to a room full of potential manufacturers in a new city. Some people even go so far as to fly to China to meet directly with manufacturers. I’ve never done that—and I never plan to do that—but plenty of my friends swear by it. Of these options, though, I’d still recommend starting on Alibaba or a similar site and ordering ready-made product samples. Something magical happens when you hold a product in your hand: You realize it’s real. While it may seem at the outset like the best way to make your perfect product is to go meet a contract manufacturer in person and get them to build your design from scratch, that option comes with a lot more risk: the risk of lost time. We’re talking about at least three months before you see your first prototype—more likely six, or even twelve. All of that and you won’t even know right away if the resulting prototype will be the one that will make your brand. That’s why I recommend you come up with the idea, get samples, and improve over time. Perfectionists hate the approach, but you can’t expect to make it to a million dollars in twelve months if it takes twelve months just to get a look at what you’re creating.

A better deal for a better product was out there, but I didn’t put our momentum on hold to look for it. We made the adjustment as we progressed. That never-ending, purpose-driven quest for improvement gives you the freedom to direct your focus right now on getting that product on the market. Whenever I catch myself overthinking a product and delaying the crucial move from concept to sale, I remind myself, “Let’s make some mistakes.” After all, there’s so little risk involved in this method; when you’re working with small orders up front, the downside of a mistake is very low. You’ll find a way to sell those first 100 units on Amazon eventually. Even if you don’t, the loss is minimal. Mistakes, even bad ones, are a part of this business. No amount of preparation ensures a perfect process. Sometimes you’ll make a modest mistake, like going to market with the second-best supplier cutting slightly into your margins. Other times, you’ll commit a nastier error, like the time we lowered the price on our yoga mats without really thinking through our inventory limitations.

When we cut our price, we sold really well (because when you follow the method in this book, it works), but we ran out of stock. It was a predictable outcome. Being out of stock is the worst thing that can possibly happen to your new business because you’re essentially out of business when you can’t take orders. We had to wait out the four-week lag for another shipment to cross an ocean and get to the Amazon warehouse. When we finally got new stock back in, we were essentially starting over. Yes, we had customer reviews, but our momentum was dead. We had to run another discount to get moving again. We did recover, but that one mistake set us back months. I can’t say whether an extra month of planning would have kept us from making that awful choice; probably not, honestly. You can’t control for everything. Your goal is just to take your product from an idea to a physical item in a customer’s hand. It’s simpler than most people think it is. Find the right supplier, get samples, refine with research, put in a small order, and get the product online. That’s all you need to worry about right now. Don’t overthink it. Just fix the mistakes as they come.

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This happened to me!” Bethari Syamsudin, an Indonesian manager working for the multinational automotive supplier Valeo, told me. “My boss is German, but my team is all Indonesian. In my culture, if we have a strong relationship and come to a spoken agreement, that is enough for me. So if you get off the phone and send me an e-mail recapping in writing everything we have just decided, that would be a clear sign to me that you don’t trust me.

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Investors, labor, management, suppliers—they all need to cooperate to create value for customers. If they do, the joint value created is divided fairly among the creators of the value through competitive market processes based approximately on the overall contribution each stakeholder makes.

Owing to this world-class cost structure and disciplined pricing policy, the Lee Group’s flip-flop business is thriving. A couple of years ago, it was paid the ultimate compliment when Walmart, the world’s largest retailer, came calling. Walmart wanted to know whether the Lee Group would consider becoming its flip-flop supplier. The Lee Group said no. The company has long sold all its flip-flops at its factory gates to local wholesalers, who take the shoes to every corner of Nigeria and into surrounding countries in West Africa. It has never had any trouble selling its entire output and didn’t see the point of disappointing long-standing distributors in order to serve Walmart. It didn’t need the business of the largest retailer in the world because it had found a more efficient production model to serve an even more price-conscious consumer. In some sense, it had outWalmarted Walmart.

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.

We are promoting building a better business, increasing shareholder value, enhancing the business’s competitive position through securing a lower cost base, and ensuring we have a capable supplier portfolio. Further, through a skilled procurement team, we can strengthen the business through excellence in contract management discipline, supply chain assurance and align our supply base with the company’s strategic goals, be they technologically based or meet sustainability objectives. What’s not to get excited about that? The CEO’s door will always be open to hear these types of discussions.

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.

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.

In the “distribution upheaval” of the early 1960s, hundreds of merchants were put out of business by the looming discount behemoths. By the late 1970s, discounting had infiltrated every market segment, and the emergence of “category killers” in hardware, toys, and furniture had killed off more than half of existing retail chains. Millions of jobs were shipped overseas as discounters leaped at every opportunity to buy from foreign suppliers. Prices crashed, consumer debt soared, and Americans put their futures on the installment plan.

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We want our businesses to mimic the robustness of the living world: to survive and prosper in a dynamic external environment, withstand internal strategic and organizational upheavals, and evolve by taking calculated risks. 5. Hence, we choose to invest only in businesses that are robust at multiple levels. A robust business has high ROCE, minimal or zero debt, a strong competitive advantage, fragmented customer and supplier bases, a stable management team, and is in a slow-changing industry. 6. Just because a business is robust today does not mean it will continue to be so. Our only protection against the loss of robustness of a business is to be price sensitive. We do not invest unless the market offers us an attractive valuation, which happens rarely.

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.

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The electronics effort faced even greater challenges. To launch that category, David Risher tapped a Dartmouth alum named Chris Payne who had previously worked on Amazon’s DVD store. Like Miller, Payne had to plead with suppliers—in this case, Asian consumer-electronics companies like Sony, Toshiba, and Samsung. He quickly hit a wall. The Japanese electronics giants viewed Internet sellers like Amazon as sketchy discounters. They also had big-box stores like Best Buy and Circuit City whispering in their ears and asking them to take a pass on Amazon. There were middlemen distributors, like Ingram Electronics, but they offered a limited selection. Bezos deployed Doerr to talk to Howard Stringer at Sony America, but he got nowhere. So Payne had to turn to the secondary distributors—jobbers that exist in an unsanctioned, though not illegal, gray market. Randy Miller, a retail finance director who came to Amazon from Eddie Bauer, equates it to buying from the trunk of someone’s car in a dark alley. “It was not a sustainable inventory model, but if you are desperate to have particular products on your site or in your store, you do what you need to do,” he says. Buying through these murky middlemen got Payne and his fledgling electronics team part of the way toward stocking Amazon’s virtual shelves. But Bezos was unimpressed with the selection and grumpily compared it to shopping in a Russian supermarket during the years of Communist rule. It would take Amazon years to generate enough sales to sway the big Asian brands. For now, the electronics store was sparely furnished. Bezos had asked to see $100 million in electronics sales for the 1999 holiday season; Payne and his crew got about two-thirds of the way there. Amazon officially announced the new toy and electronics stores that summer, and in September, the company held a press event at the Sheraton in midtown Manhattan to promote the new categories. Someone had the idea that the tables in the conference room at the Sheraton should have piles of merchandise representing all the new categories, to reinforce the idea of broad selection. Bezos loved it, but when he walked into the room the night before the event, he threw a tantrum: he didn’t think the piles were large enough. “Do you want to hand this business to our competitors?” he barked into his cell phone at his underlings. “This is pathetic!” Harrison Miller, Chris Payne, and their colleagues fanned out that night across Manhattan to various stores, splurging on random products and stuffing them in the trunks of taxicabs. Miller spent a thousand dollars alone at a Toys “R” Us in Herald Square. Payne maxed out his personal credit card and had to call his wife in Seattle to tell her not to use the card for a few days. The piles of products were eventually large enough to satisfy Bezos, but the episode was an early warning. To satisfy customers and their own demanding boss during the upcoming holiday, Amazon executives were going to have to substitute artifice and improvisation for truly comprehensive selection.

If the Mac was so great, why did it lose? Cost, again. Microsoft concentrated on the software business and unleashed a swarm of cheap component suppliers on Apple hardware. It did not help, either, that suits took over during a critical period. (And it hasn't lost yet. If Apple were to grow the iPod into a cell phone with a web browser, Microsoft would be in big trouble.)

One of my suppliers told me, “Ray, you know you aren’t in the hamburger business at all. You’re in the french-fry business. I don’t know how the livin’ hell you do it, but you’ve got the best french fries in town, and that’s what’s selling folks on your place.

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Instead, the thing that had captured my attention was this big metal column topped by…absolutely nothing. It was doing this in the parking lot of what I had to figure was the main supplier of off-campus food: a retro-fifties fast-food joint. Maybe it’s supposed to be some kind of art, I thought as I stared at the column. I was living in the big city now, after all. Public art happened. Not only that, it didn’t have to make sense. In fact, having it not make sense was probably a requirement. “They took it down for repairs,” a voice beside my suddenly said. I’m kind of embarrassed to admit this, but the truth is, I jumped about a mile. I’d been so mesmerized by the sight of that column extending upward into space, supporting empty air, that I’d totally lost track of all my soon-to-be-fellow students rushing by me. To this day, I can’t quite explain the fascination. But I’ve promised to tell you the 100 percent truth, which means I’ve got to include even the parts which make me appear less than impressive. “Huh?” Yes, all right, I know. Nowhere even near the list of incredibly clever replies. “They took it down for repairs,” the voice said again. “Took it down,” I echoed. By this time, I knew I was well on my way to breaking my own blending-in rule, big time. Sounding like a total idiot can generally be considered a foolproof method of getting yourself noticed. “The car that’s usually up there.” The guy--it was a guy; I’d calmed down enough to realize that--said. I snuck a quick glance at him out of the corner of my eye. First fleeting impression: tall and blond. The kind of muscular-yet-lanky build I’ve always been a sucker for. Faded jeans. Letterman jacket with just about every sport there was represented on it. Gotcha! I thought. BMOC. Big Man on Campus. This made me feel a little better for a couple of reasons. The first was that it showed my skills hadn’t abandoned me completely after all. I could still identify the players pretty much on sight. The second was that in my vast, though admittedly from-a-distance, experience of them, BMOCs have short attention spans for anyone less BOC than they are. Disconcerting and intense as it was at the moment, I could nevertheless take comfort in the fact that this guy’s unexpected and unnatural interest in me was also unlikely to last very long. “An old Chevy, I think,” he was going on now. “It’s supposed to be back soon, though. Not really the same without it, is it?” He actually sounded genuinely mournful. I was surprised to find myself battling back a quick, involuntary smile. He did seem to be more interesting than your average, run-of-the-mill BMOC. I had to give him that. Get a grip, O’Connor, I chastised myself. “Absolutely not,” I said, giving my head a semi-vigorous nod. That ought to move him along, I thought. You may not be aware of this fact, but agreeing with people is often an excellent way of getting them to forget all about you. After basking in the glow of agreement, most people are then perfectly content to go about their business, remembering only the fact that someone agreed and allowing the identity of the person who did the actual agreeing to fade into the background. This technique almost always works. In fact, I’d never known it not to. There was a moment of silence. A silence in which I could feel the BMOC’s eyes upon me. I kept my own eyes fixed on the top of the carless column. But the longer the silence went on, the more strained it became. At least it did on my side. This guy was simply not abiding by the rules. He was supposed to have basked and moved on by now.

Tracy, if you've ever seen a gauntlet on TV, or someone being initiated into a gang - it's easier for a supplier to go through that than it is to get into my network. T

• Launched Real Time Talent, one of the most innovative workforce development initiatives in the country. It links the curriculum and training for more than four hundred thousand postsecondary students with the skill requirements of employers in the state (RealTimeTalentMN.org). • Created the Business Bridge, which facilitates connections between the procurement functions of large corporations and smaller potential suppliers located in the region. As a result of this effort, participating businesses added more than $1 billion to their spending with local businesses in two years—a year ahead of their goal. • Helped to build the case for investing more aggressively in higher education. By strengthening relationships between business and higher education leaders, and using a fact-based set of findings to justify investing more than an incremental amount, a coalition organized by Itasca helped increase spending in the state by more than $250 million annually. That’s not bad for a group of people with no budget, no office, no charter, virtually no Internet presence, virtually no staff—but a huge abundance of trust.

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

Our clients work with us because they know that they can trust us. To ensure that business goals can be met, we search the insurance marketplace for the best suppliers of insurance for your Vehicles. You'll be sure to appreciate the value of working with us making a direct comparison of coverage, service expertise and price. Our agents, deeply involved in the industry have knowledge of the varying products and prices offered by these companies and can obtain the coverage which is most appropriate.

The campaign drew heavily from the American anti-apartheid movement of the 1980s, which led to the dismantling of racial segregation programs in South Africa by targeting the one thing which—unlike protests or letters or phone calls—no government can ignore: money ... SHAC set out to make Huntington the South Africa of the corporate world. They identified banks, suppliers, customers and employees—anyone with any financial ties to the lab, from Fortune 500 companies to toilet paper suppliers. They focused on businesses with no vested interest in animal experimentation, either philosophically or economically; Huntington needed them, but they did not need Huntington.

The soul in customer experiences with soul is the essence of a business and we encounter the essence through each and every part, be it product, service, advertisement, interface or personal interaction we have with the organisation. For this reason the term ‘customer experience’ refers not only to the interaction our paying customers have with our products, services and brands, but also to every single interaction inside the business between colleagues, employees, suppliers, shareholders and contractors, and every interaction between those who work for a business and who are representing the business, and every person who comes into contact with the business. Every single one of us has our own personal customer experience which we project and for which we have to take full responsibility.

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?

Media City, Dubai, UAE – Kazema Portable Toilets, one of the leading suppliers of plastic portable toilets, GRP portable toilets and sinks, and other portable sanitation equipment today, this week excitedly announced they have been named a finalist for their entry into the “RSA Customer Focus of the Year Award’ at the Gulf Capital SME Awards 2017. With all portable products being made from high quality, durable materials that can withstand the demands of sanitation, Kazema Portable Toilets carries a wide variety of ancillary products and accessories designed to assist business owners in earning more. Now in its 6th year as a regarded small to mid-sized business recognition awards ceremony, the SME Awards proudly identify startups, innovative SMES with exemplary products and services, SMEs which invest in their employees’ environment and customer strategy, and also the visionary entrepreneurs at the helm. “We’ve created a portable solution that is compatible with any business looking to add depth, expansion, and productivity to their operation,” said Raj, Founder and Owner of Kazema Portable Toilets. “We provide our clients with professional support worldwide that enables them to supply clients locally with our product, as well as harness it for widespread exportation.” Recognized for their high-stock, ready-to-use durable product today, Kazema Portable Toilets is one of the front-runners for their SME awards category. Kazema beat out hundreds in the category to be regarded as a finalist for their entrepreneurial solution to a problem every person encounters daily. “We are passionate about our work here at Kazema Portable Toilets, and we are honored to be named a finalist in such a reputable competition,” said Raj. “We want to thank SME for the recognition, and look forward to winning our category.

commerce store’s business model revolves around driving the highest volume of potential shoppers to its site, and so search ads and SEO are obviously vital channels, while marketplace businesses like Uber and eBay must divide efforts between channels for bringing in suppliers and those aimed at shoppers (or riders).

General Questions What are the business issues (service quality, product quality, speed, capacity, cost, morale, competitive landscape, impending regulations, etc.) we wish to address? What does the customer want? What measurable target condition(s) are we aiming for? Which process blocks add value or are necessary non-value-adding? How can we reduce delays between processes? How can we improve the quality of incoming work at each process? How can we reduce work effort and other expenses across the value stream? How can we create a more effective value stream (greater value to customers, better supplier relationships, higher sales conversion rates, better estimates-to-actuals, lower legal and compliance risk, etc.)? How will we monitor value stream performance?

Customers may forge even stronger digital relationships with trusted suppliers. The value proposition may be so strong the consumer would feel comfortable limiting choices to whatever their trusted suppliers choose to make available.

We can also increase the perceived long term value by the way we describe our emails. Nowadays many businesses mention a newsletter on their website, but the phrase ‘newsletter’ doesn’t have any implied value in it. In fact the word ‘news’ is probably something you don’t want to hear from a potential supplier. Who cares whether Mary in accounts has had a birthday? What you would like to get is useful, valuable information. So instead of calling it an email newsletter, I call mine ‘client winning tips via email’. Or you could call it a ‘divorce survival bulletin’. Or ‘the cash flow accelerator emails’ or ‘tax cutting tips’. Each of these names implies some kind of value or outcome your potential subscribers will get from your emails. To come up with a good name, go back to your customer insight map for your ideal clients and look at the big problems, challenges, goals and aspirations your clients have. If you can name your emails to relate to those big goals and problems then they’re likely to see they’ll get value by subscribing to them.

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.

Anything that restricts entry works in the interests of the suppliers and against the interests of the buyers; so, it is not at all surprising that businesses lobby government aggressively for assistance in retarding entry with patents, copyrights, zoning laws, occupational licensing, environmental regulations, etc

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

In most southern, and perhaps most most northern, states a man with political ambition-and some political prospects-can always find a disgruntled or hopeful contractor or supplier willing to help finance a campaign. And these businessmen are often not concerned about political ideology: they want to do business with a winner, be he right, left, center, or monarchist.

His other deals had tended to bring together companies from the same industry horizontally, or merge customers with their suppliers vertically, or bring together firms involved in different steps of manufacturing or marketing: this was known as a circular merger. But the merger that had produced C-T-R was, as Flint put it when he looked back on it later in his career, neither horizontal nor vertical nor circular. In fact, it was so uncommon as to almost justify the description sui generis—in a class by itself. Flint soon turned out to be right yet again. The C-T-R merger was a success from the outset. Flint was careful to ensure that a gospel of technical excellence and constant improvement of the new organization’s products was fundamental to its business philosophy.