A Quote by Edward Whitacre, Jr.
No partnership between two independent companies, no matter how well run, can match the speed, effectiveness, responsiveness and efficiency of a solely owned company.
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We value the clock for its speed and efficiency. The clock has its place, efficiency has its place, after effectiveness. The symbol of effectiveness is the compass a sense of direction, purpose, vision, perspective, and balance. But the empowerment process itself is not efficient.
The reason that the company decided to invest in Tesla was not to target a profit gain. We did it as a means to further a partnership between the companies.
What is the major problem? It is fundamentally the confusion between effectiveness and efficiency that stands between doing the right things and doing things right. There is surely nothing quite so useless as doing with great efficiency what should not be done at all.
Society is indeed a contract. It is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born.
Basically, for any complex to be sustainable needs to have a balance between two factors: resilience and efficiency. These two factors can be calculated from the structure of the network that is involved in a complex system. A resilient, efficient system needs to be diverse and interconnected. On the other hand, diversity and interconnectivity decrease efficiency. Therefore, the key is an appropriate balance between efficiency and resilience.
When we first started our internet company, 'China Pages', in 1995, and we were just making home pages for a lot of Chinese companies. We went to the big owners, the big companies, and they didn't want to do it. We go to state-owned companies, and they didn't want to do it. Only the small and medium companies really want to do it.
Size and synergies between the different segments of the company matter. As far as we are concerned, the Internet is broadening our opportunity, as well as for other big media companies with huge resources in sports, entertainment and news. There's just more opportunity.
As far as funding and building a team, you being romantically involved with your cofounder really shouldn't play a factor in how you run the company and how you create a team or find resources. It's all about the partnership.
When we came then to the 1967 negotiations we had the problem of one market between two countries fully under the control of the American companies that owned the facilities on both sides of the border.
When it comes to efficiency and effectiveness, I would always start with effectiveness. I am interested in achieving a certain outcome. Only secondarily do I worry about achieving it as efficiently as possible.
Once a company develops out of its consumer base, you will often see a well-funded multinational company come in and take over that space. The black-owned company either stays a niche company or just disappears. This is something we don't want to happen.
Effectiveness is doing the things that get you closer to your goals. Efficiency is performing a given task (whether important or not) in the most economical manner possible. Being efficient without regard to effectiveness is the default mode of the universe.
As much as I believe in the Franco-German partnership, I question the idea of a duopoly. European construction is based on a well-balanced and respectful partnership between France and Germany.
The OECD advocates a risk-based approach to water security and is calling on governments to speed up their efforts to improve efficiency and effectiveness of water management. We recommend improving water pricing to recover costs and to reflect the value of water to users and society.
In 1972, Texaco Oil Company, in partnership with PetroEcuador, the state-run oil company of Ecuador, began to drill for oil in the jungles of the Ecuadorian Amazon.
At a well-run company, good ideas are embraced no matter where they come from.
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