Ho, ho! This is the 14:th time we meet, so I think a summary of what’s have been said here, so far, would be appropriate. So here we go. We started out by establishing what’s successful business management is all about;
- Decision making
- Risk taking
- Communication (added by Mr. Iacocca)
Easy to say, tougher to practice of course! I earlier mentioned a few tips however, which were;
- Joint calls with sales people, where you meet sales persons as well as clients. Its advantages are obvious and described here before.
- Leave your office. Walk, drive and fly around FREQUENTLY and REGULARILY.
- Meet your “fellow crew members” preferably at their working stations rather than in meeting rooms.
When they start greeting you with “Hi Boss” instead of a Good morning Sir”, you have come a long way!
Mr. Iacocca was very tough on the new MBA: s coming out from Yale and Harvard, as they there have been taught to reach almost a 100-% certainty before a business decision is to be taken. He meant, that there is no time in real business for that. Instead it’s here where risk taking comes in. What he also says, “we correct things as we move”, meaning that speed is more essential than the 100% certainty before decisions.
And now back to our continuous improvements, which is exactly the same thing as Mr. Iacocca’s comment “we correct as we move”. Ho, ho! How interesting isn’t this? Two different approaches have come to the same conclusion!
In all service industries continuous improvements are the same as product developments, as the offers constantly are being adjusted and updated with a minimum of investments. In the heavy industry, on the other hand, investments are frequently required, but will last longer with continuous improvements.
PS: Back in the early 70’s, when I got my business education and training, our bible was written by the famous Mr. Philip Kotler with his five P: s. Mr. Kotler was a highly regarded university guru in marketing. His five P: s. is now reduced to three by Mr. Iacocca. More on that soon. Rationality and simplicity are now the name of the game. Or why don’t put it this way? Business from class room to board room! Stay tuned! Ho, ho!
Dedicated his full life to business in Sweden as well as in the US, Germany and Switzerland. Also a number assignments all over the world.
Experiences; salesman, sales leader, marketing director, vice president and CEO.