Competition should not be for a share of the market-but to expand the market.
W. Edwards DemingRead
He that would run his company on visible figures alone will in time have neither company nor figures.
Interpretation
Relying solely on quantitative data for decision-making can lead to failure in a company.
This quote by W. Edwards Deming emphasizes the importance of balancing quantitative data with qualitative insights in business management. It suggests that while numbers are essential for tracking performance, a narrow focus on metrics alone may overlook critical factors such as employee morale, customer satisfaction, and overall company culture, ultimately jeopardizing the organization's success.
In practice
A business conference discussing the importance of qualitative insights in strategy formation.
Competition should not be for a share of the market-but to expand the market.
The job can't be finished only improved to please the customer.
Don't expect smart people to listen to you without proof.
Quality begins with the intent, which is fixed by management.
Learn the basics of analytics and people will love you. If you don't have time to learn, hire someone.
Just because you can measure everything doesn't mean that you should.
Today's consumers are eager to become loyal fans of companies that respect purposeful capitalism. They are not opposed to companies making a profit; indeed, they may even be investors in these companies - but at the core, they want more empathic, enlightened corporations that seek a balance between profit and purpose.
When looking at trends I always ask myself basic and timeless questions about business, and the one I seem to always come back to is, 'How is this different than anything else in the marketplace?'
The companies that survive longest are the one's that work out what they uniquely can give to the world not just growth or money but their excellence, their respect for others, or their ability to make people happy. Some call those things a soul.
Not adding value is the same as taking it away.
Zoom does not focus on revenue goals, but rather we have confidence that focusing on the happiness of existing customers and our employees will organically increase growth.
Every business is a monarchy with, not a man, but an idea as king.
Subscribe for the occasional hand-picked quote. No noise.