Business Quotes

A PROCESS MANAGED BUSINESS – A MATTER OF PERSPECTIVE: Life in the Fast Lane Playing in Traffic intense stressful challenging overwhelming fulfilling demanding exciting nerve-wracking entrepreneurial unrelenting empowered exposed: no place to hide flexible confusing results compensation sweatshop team ascendancy ego suppression flat organizations who’s my boss no titles no status customer focus self-abnegation decentralized decision making chaos the end of tenure the end of security no complacency fear ongoing change burnout

The Twelve Keys to an Effective Organization (by William P. Densmore): 1. Integrated Strategic Management 2. Focus on Results 3. Shared Aims, Values and Beliefs 4. Short-Term/Long-Term Balance 5. Superior Customer Satisfaction 6. Focus on Profits 7. Human Resource Practices 8. Freedom Within Bounds 9. High Expectations – Focus on Competence 10. Business Teams and Teamwork 11. Informal Networks and Relationships 12. Climate for Change

Don Keough’s (CEO Coca-Cola) 11 Rules on “HOW TO LOSE”: 1. Stop taking risks 2. Be content 3. Never deviate from what the founder did 4. Be inflexible 5. Rely totally on research and experts 6. Concentrate on competitors instead of your customers 7. Put yourself – not the customer – first 8. Solve administrative concerns first 9. Let others do your thinking for example, headquarters 10. Rely on T-G-E: “That’s Good Enough” and T-N-M-J: “That’s Not My Job!” 11. Rationalize slow growth

Nordstrom’s Rules for Employees: Rule # 1: Use your good judgment in all situations There are no additional rules

SENSITIVITY TO CUSTOMER NEEDS: An architect built a cluster of office buildings around a central green. When construction was complete and the buildings were occupied, the landscaping crew asked him where he wanted the sidewalks. The architect knew a winter storm was approaching and asked the landscapers to wait a while. As he expected, the winter storm left a blanket of snow. People walking between the buildings left easily discernible trails. The architect then had the landscapers mark the most frequently used trails. These paths were then paved. Not only did the paths have a nice design that flowed in easy curves, but the paths accommodated the users needs in a most functional way.

Ask SPIN Questions for success: S =Situation Questions (Data-Gathering: How long have you had this equipment?) P =Problem Questions (Uncover Problems: Where do you seem to be having difficulties?) I =Implication Questions: (Explore Consequences: How does that impact your ….?) N =Need/Payoff Questions: (Identify Benefits of Potential Solution: If we were to …. how might that help?)

Three Levels of Organizational Vision: 1. The Do-able 2. The Conceivable 3. The Previously Unthinkable

Douglas McGregor’s list of the unique characteristics of an effective management team: 1. Understanding, mutual agreement, and identification with respect to the primary task 2. Open communications 3. Mutual trust 4. Mutual support 5. Management of human differences leading to group synergy 6. Selective use of the team 7. Appropriate member skills 8. Leadership: Managing and integrating the other 7 characteristics

What experienced professionals value most: – respect and recognition of effort – status and independence – opportunity to make a difference – honest, ethical management – free exchange of information – freedom in deciding how to do own work

CONSULTANT: What is a consultant? Two old ladies got a large tomcat (Sylvester) for company. Every evening about 10:00pm, Sylvester scratched on the door until they let him out. He wanted out so he could “visit” the female alley cats. Their puritanical consciences bothered, the two old ladies had him “fixed”. He still went out at night. But now he went out as a “consultant”!

The values of the Walt Disney company: The four C’s: Curiosity, Confidence, Courage, Consistency, and the greatest of these is Confidence.”

THE SPOILERS You know the type. Every company has at least one. You can’t spot them by their looks. But they follow a common pattern. They are the spoilers. The second guessers. They stay in the background while the groundwork is being formed. While the decisions are being made. Then they swing into action. They demand minor changes. They find fault with small points. They rehash issues that have already been settled the hard way. They question conclusions. They challenge assumptions. They defend their stand in the name of constructive criticism and improvement. And it probably is. But too often the value of their contribution is outweighed by the destructive side effects produced. They inhibit creativity. They dampen enthusiasm. They demoralize personnel. They create uncertainty. You must know the type. Or does the shoe fit? If it does, be prepared for the question that is likely to follow an overdose of 20/20 hindsight: WHERE WERE YOU WHEN THE PAPER WAS BLANK?

A Swedish study of 12,000 male workers showed that those who felt they had no control over things at work had a 162% higher risk of heart attack than those who felt they had some control.

Bill Gates’ Success Factors for Microsoft 1. Long-term Approach 2. Passion for Products and Technology 3. Teamwork 4. Results 5. Customer Feedback 6. Individual Excellence Note: 1 & 4; 2 & 5; 3 & 6; should work to balance each other

Ritz Carlton Hotel has a policy that any employee can spend up to $2000 a day (without requiring any authorization from management) to solve the need or concern of any of their customers. On his way to Hawaii to deliver an important presentation, a businessman realized he had accidentally left his portable computer at a Ritz Carlton in Atlanta. His presentation was stored on the computer. He placed a frantic call to the hotel and was routed to housekeeping. They had found his computer. Please send by Federal Express, he requested. I absolutely need it tomorrow morning for my presentation. Imagine his surprise when Mary from housekeeping showed up in Hawaii early the next morning to hand deliver his computer. Mary was quoted as saying This was too important to trust FedX with, so I decided to deliver it myself!

4 main secrets of any MBA: 1. Sales must exceed expenses 2. Pay your bills, collect your receivables 3. Take care of your customers 4. Take care of your employees

Following the “rules”: While visiting Solvang, California my wife and I entered a bakery. We were the only customers in the store. The person behind the counter said “May I help you?” but before we could respond, another person behind the counter, standing off to the side, uttered an “uh-hum”. A discussion then took place between the two. Finally, the first person turned to us and pointing to a ticket dispenser, said, “Sorry, sir, but you need to take a number.” We pulled a number – 93. We notice a sign above that says 87. “88” says the server behind the counter, “89,” “90,” “Isn’t this silly!?” adds the server. “91,” “92,” “93.” At this point my wife and I looked at each other, turned to the server and said “Sorry, we just lost our appetites, we’re going elsewhere.”

Ventures go through six stages: Enthusiasm Complication Disillusionment The Search for the Guilty The Punishment of the Innocent The Decoration of Those Who Did Nothing

In an earthquake, the most dangerous place to be is in a tall building that is not flexible. Yet, one of the safest places is a tall building that has been stressed for earthquakes – – in other words, one that has a deep foundation and is flexible. So, too, over the coming years, large organizations that remain rigid will crumble and fall, while those that succeed in adding flexibility, teamwork and creativity to their cultures will thrive.

In 1973, the median number of hours worked per week was 40.6. By 1997 it had climbed to 50.8 hours per week. Work, as defined for this survey, includes working for pay, keeping house, and going to school. The median number of leisure hours per week dropped from 26.2 hours in 1973 to 19.5 hours in 1997. Note: As we enter the 21 st Century, this trend continues.

You can’t always wait for the guys at the top. Every manager at every level in the organization has an opportunity, big or small, to do something. Every manager’s got some sphere of autonomy. Don’t pass the buck up the line.

Work LOCAL but think GLOBAL (keep the BIG picture in mind)

Without the element of uncertainty, the bringing off of even the greatest business triumph would be a dull, routine, and eminently unsatisfying affair.

When people work in a place that cares about them, they contribute a lot more than duty.

When the diverse elements of the organization are aligned, the energy is focused and the capacity for concerted action improved… Priorities become clear, and the contributions of each employee are maximized.

When handling a “customers” complaint, remember: If you can’t fix it, don’t drop it.

When a customer complains, he is doing you a special favor; he is giving you another chance to serve him to his satisfaction. You will appreciate the importance of this opportunity when you consider that the customer’s alternative option was to desert you for a competitor.

What will your legacy be when you leave the workplace?

We found that the most exciting environments, that treated people very well, are also tough as nails. There is no bureaucratic mumbo-jumbo … excellent companies provide two things simultaneously: tough environments and very supportive environments.

Wanted, an Impresario to preside over a workshop of wizards.