The organization cannot trust the individual; the individual must trust the organization.
Ray KrocRead
Look after the customer and the business will take care of itself
Interpretation
Focusing on customer needs leads to business success.
This quote emphasizes that prioritizing customer satisfaction is fundamental to the success of a business. When businesses concentrate on serving their customers well, they create loyalty, which in turn sustains and grows the business organically without needing extensive marketing efforts.
In practice
In a business seminar while discussing customer service strategies.
The organization cannot trust the individual; the individual must trust the organization.
The two most important requirements for major success are: first, being in the right place at the right time, and second, doing something about it.
Achievement must be made against the possibility of failure, against the risk of defeat. It is no achievement to walk a tightrope laid flat on the floor. Where there is no risk, there can be no pride in achievement and, consequently, no happiness. The only way we can advance is by going forward, individually and collectively, in the spirit of the pioneer. We must take the risks involved in our free enterprise system. This is the only way in the world to economic freedom. There is no other way.
You're only as good as the people you hire.
I HAVE ALWAYS believed that each man makes his own happiness and is responsible for his own problems.
I never considered my dreams wasted energy; they were invariably linked to some form of action. When I dreamed about having a lemonade stand, for example, it wasn't long before I set up a lemonade stand.
We've done price elasticity studies, and the answer is always that we should raise prices. We don't do that, because we believe -- and we have to take this as an article of faith -- that by keeping our prices very, very low, we earn trust with customers over time, and that that actually does maximize free cash flow over the long term.
Growth makes so many dimensions of management easier. It's when growth stops that things get tough.
Too many companies are running their business into the ground, I would argue, by being myopically short-term focused on the shareholder.
I've said it for four decades - work 'on' your business, not just 'in' your business!
Companies pay too much attention to the cost of doing something. They should worry more about the cost of not doing it.
Competition should not be for a share of the market-but to expand the market.
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