Don't invest in low-cost areas just because they're cheap - they have a habit of becoming high-cost tomorrow.
Don't make outsourcing decisions just because they're easy especially if there's no way back.
Don't make strategic cut-backs just to trim the bottom line some decisions take a long time to impact, then it's too late to reverse them
Stop looking for high volume, high value, market niches - they don't exist.
Show strong leadership because if you don't believe it can be done, it won't be.
Have a long-term plan and stick with it even if it has a negative effect on the next quarter results.
Show commitment and determination to succeed - revenue and profits come from doing things right.
Stay focussed and resistant to external meddling especially from financial analysts and bean counters who lack vision
Executing ruthlessly is the key competitive differentiator
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Comments (2)
Very nice. If only Wall Street analysts and their like around the world thought like that!
Posted by Peter B | July 2, 2008 11:13 PM
Posted on July 2, 2008 23:13
You're right Peter, so much of what Wall St urges the industry to do is wrong-headed.
Some CEOs take no notice of Wall St and they're the smart ones - Bob Swanson of LTC for instance.
It's amazing to me how they can advise anyone how to run a business after the staggering mess they've made of their own business.
Posted by David Manners | July 3, 2008 11:52 AM
Posted on July 3, 2008 11:52