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.
Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.
Quit being 'busy' and start actively owning and operating your company, and you'll be able to understand where the money is coming from and how to make more of it.
No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself, but for others; or failing therein, it ceases to be profitable and ceases to exist.
What's the most critical factor in any business decision you'll ever have to make? Basically, it boils down to this question: If this all crashes, will it bring the whole house tumbling down like a pack of cards? One business matra remains embedded in my brain - protect the downside.
Strategic management is not a box of tricks or a bundle of techniques. It is analytical thinking and commitment of resources to action. But quantification alone is not planning. Some of the most important issues in strategic management cannot be quantified at all.
Starbucks is not an advertiser; people think we are a great marketing company, but in fact we spend very little money on marketing and more money on training our people than advertising.
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