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Summary of Start with Why

    Fidan Tofidialıntı yaptıgeçen yıl
    Companies with a focus on their purpose encourage true innovation above and beyond market competition.
    Analysis
    The most innovative businesses are those that fulfill their purposes by offering customers things they later believe they need but did not ask for, such as automobiles and portable music players. A company without a strong sense of “why” would be more likely to only improve existing products and compete with companies offering similar products. Inspiring companies benefit more from measuring how well they fulfill their purpose as innovators.
    Fidan Tofidialıntı yaptıgeçen yıl
    The best business strategies start with a focus on why the company exists, then on how the company will fulfill that purpose, and lastly on what operations will complete that plan.
    Analysis
    The Golden Circle illustrates where a company should begin its search for strategies. The center of the circle is “why,” the company’s purpose for existing. The next ring is “how,” which relies on an understanding of the purpose and represents the plans to fulfill that purpose. The outer circle, “what,” consists of the actions that carry out the plan that fulfills the purpose.
    Fidan Tofidialıntı yaptıgeçen yıl
    Successful companies often have one visionary leader who focuses on “why” and a planning leader who establishes “how.” The rest of the organization amplifies the “why” and “how” in what it does.
    Fidan Tofidialıntı yaptıgeçen yıl
    Customers are attracted to companies whose purposes align with their own because they want to feel a sense of belonging. Those customers will be loyal when a company cannot afford to offer the same low prices or easy access as its
    Fidan Tofidialıntı yaptıgeçen yıl
    The best business strategies start with a focus on why the company exists, then on how the company will fulfill that purpose, and lastly on what operations will complete that plan.
    Mark Ongalıntı yaptı4 yıl önce
    A company with a clear sense of purpose does not need to measure how it competes against others. Instead, it works to improve itself and uses those measures of improvement to attract customers.
    Mark Ongalıntı yaptı4 yıl önce
    Companies with a strong focus on “why” engage in reflection, learn lessons from failure, and only compete against themselves.
    Mark Ongalıntı yaptı4 yıl önce
    A company with a culture that amplifies the message all the way to the lowest-ranked employees, and which seeks leaders who want to pursue the original purpose, can survive scaling up or replacing leaders because everyone keeps the purpose and plan in mind.
    Mark Ongalıntı yaptı4 yıl önce
    Ensuring focus on purpose throughout a company’s lifetime requires a strong culture and a plan of succession that ensures future leaders maintain the same message.
    Mark Ongalıntı yaptı4 yıl önce
    Even companies that begin with a strong sense of purpose can lose that vision. When the metrics change from measuring the pursuit of the purpose to the pursuit of market share or profit margins, loyal customers leave and employees cease to receive and relay the company’s message clearly.
    Mark Ongalıntı yaptı4 yıl önce
    A company’s message is only clear if its strategies, practices, and culture are consistent with its purpose. This extends to symbols used by the company including logos, which are often generic or represent nothing in particular.
    Mark Ongalıntı yaptı4 yıl önce
    Since the average percentage of loyal customers out of all customers including late adopters is closer to 10 percent, a company that focuses on attracting and keeping early adopters to achieve a majority of loyal customers can achieve a higher number of customers that will not abandon the brand
    Mark Ongalıntı yaptı4 yıl önce
    Early adopters make up a minority of consumers, but they are often the most eager to seek out innovation. A company that wants to grow a loyal customer base is better off seeking only customers who fit in the company’s culture and share its purpose.
    Mark Ongalıntı yaptı4 yıl önce
    Rather than giving employees metrics to achieve, a leader gives employees challenges and incentives to find solutions.
    Mark Ongalıntı yaptı4 yıl önce
    If a company has a strong sense of purpose, it will attract customers who feel the same sense of purpose or desire that same purpose in their lives. They voluntarily display the logos of brands that represent that purpose, and they willingly pay premiums of time or money to use products from those brands. Loyal customers will keep buying products from a company with a strong sense of purpose even when the company cannot offer special deals, discounts, or competitive prices.
    Mark Ongalıntı yaptı4 yıl önce
    Companies with a strong focus on “why” engage in reflection, learn lessons from failure, and only compete against themselves.
    Mark Ongalıntı yaptı4 yıl önce
    Ensuring focus on purpose throughout a company’s lifetime requires a strong culture and a plan of succession that ensures future leaders maintain
    Mark Ongalıntı yaptı4 yıl önce
    Companies are better off building strong relationships with early adopters and courting their loyalty, as opposed to pursuing all potential customers and accepting a low rate of loyalty.
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