Competition is the keen cutting edge of business, always shaving away at costs.
Henry FordRead
At a big company, often size turns into constipation; it fogs the lens about what's really happening. Sometimes with size and success comes the notion that since we've done things to be successful, we have the formula and can institutionalize it. That can be death.
Interpretation
Large companies can become rigid and lose touch with reality due to their own success.
In this quote, Mark Parker reflects on the challenges that come with the growth and success of a large company. He suggests that as organizations expand, they may become less flexible, leading to a disconnect from the true feelings and needs of their employees and customers. This 'constipation' can create an illusion that past successes provide a guaranteed formula for future achievements, which can hinder innovation and ultimately lead to failure.
In practice
This quote can be used in a business meeting to highlight the importance of staying adaptable.
Competition is the keen cutting edge of business, always shaving away at costs.
In this ever-changing society, the most powerful and enduring brands are built from the heart. They are real and sustainable. Their foundations are stronger because they are built with the strength of the human spirit, not an ad campaign. The companies that are lasting are those that are authentic.
I suppose Virgin is an unusual brand in that I suspect we're the only 'way of life' brand in the world. We're one of maybe the top 30 best known brands in the world, yet if you look at the other 29, they all specialize in one area. Whether it's Google, Coca-Cola, Microsoft, etc., they all generally specialize in one area.
Courteous treatment will make a customer a walking advertisement.
Business isn't some disembodied bloodless enterprise. Profit is fine - a sign that the customer honors the value of what we do. But "enterprise" ( a lovely word ) is about heart. About beauty. It's about art. About people throwing themselves on the line. It's about passion and the selfless pursuit of an ideal.
A well-run restaurant is like a winning baseball team. It makes the most of every crew member's talent and takes advantage of every split-second opportunity to speed up service.
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