Quotes in business
Never put yourself in a position that will put yourself at risk if you make the wrong decision. We spent cash on everything. It's fashionable to make 'bet the company' decisions, but don't do it.
It is time to recognize conventional MBA programs for what they are - or else to close them down. They are specialized training in the functions of business, not general educating in the practice of management.
Too many people think only of their own profit. But business opportunity seldom knocks on the door of self-centered people. No customer ever goes to a store merely to please the storekeeper.
Hollywood is the only industry, even taking in soup companies, which does not have laboratories for the purpose of experimentation.
Everything is worth what its purchaser will pay for it.
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.
If football taught me anything about business, it is that you win the game one play at a time.
Top management should publish a resolution that no one will lose his job for contribution to quality and productivity.
This may be the world's most underdeveloped nation. We're number 1.
If you invent frequently and are willing to fail, then you never get to that point where you really need to bet the whole company.