Quotes in business
There are four prongs of quality and four ways to improve quality of product and service:
- Innovation in product and service
- Innovation in process
- Improvement of existing product and service
- Improvement of existing process
The common mistake is the supposition that quality is ensured by No. 4, improvement of process, that operations going off without blemish on the factory floor, in the bank, in the hotel will ensure quality. Good operations are essential, yet they do not ensure quality. Quality is made in the boardroom.
A bank that failed last week may have had excellent operations— speed at the tellers’ windows with few mistakes; few mistakes in bank statements; likewise in the calculation of interest and of penalties and loans. The cause of failure at the bank was bad management, not operations.
A company could put a top man at every position and be swallowed by a competitor with people only half as good, but who are working together.
The gambling known as business looks with austere disfavor upon the business known as gambling.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
In the business world, the rearview mirror is always clearer than the windshield.
I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.
I find it rather easy to portray a businessman. Being bland, rather cruel and incompetent comes naturally to me.
The chief business of the American people is business.
Letting your customers set your standards is a dangerous game, because the race to the bottom is pretty easy to win. Setting your own standards--and living up to them--is a better way to profit. Not to mention a better way to make your day worth all the effort you put into it.