A Quote by Michael Dell
I believe that you have to understand the economics of a business before you have a strategy, and you have to understand your strategy before you have a structure. If you get these in the wrong order, you will probably fail.
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A bad strategy will fail no matter how good your information is. And lame execution will stymie a good strategy. If you do enough things poorly, you'll go out of business.
Before you can create a strategy, you need a vision of the company. Before you set that vision for the future, you have to understand your current position in the market as well as your limitations.
Always start at the end before you begin. Professional investors always have an exit strategy before they invest. Knowing your exit strategy is an important investment fundamental.
If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to look at cognition itself, something we have never done before in economics.
If you believe in a security strategy - a strategy of more friends and fewer enemies, a strategy of greater cooperation and a strategy of keeping America better at home as we grow more diverse - we have to build the minds and hearts to build this kind of world.
If we understand our own times, we will know that we should affirm the reality of God by challenging the domination of materialism and naturalism in the world of the mind. With the assistance of many friends I have developed a strategy for doing this. ... We call our strategy the "wedge."
Thinking about your role will automatically get you in the frame of mind to get your strategy and game plan right before you step onto that field.
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.
If you can't describe your strategy in twenty minutes, simply and in plain language, you haven't got a plan. 'But,' people may say, 'I've got a complex strategy. It can't be reduced to a page.' That's nonsense. That's not a complex strategy. It's a complex thought about the strategy.
After formulating and communicating the right strategy and optimizing operations to execute that strategy, CEOs and other top leaders then must be able to build management teams that truly understand the big picture.
It is crucial to have a strategy in place before problems hit, precisely because no one can accurately predict the future direction of the stock market or economy. Value investing, the strategy of buying stocks at an appreciable discount from the value of the underlying businesses, is one strategy that provides a road map to successfully navigate not only through good times but also through turmoil.
A change of strategy suggests there is a strategy. I don't see a strategy that deals with - that concerns with dealing wit with ISIL overall. There is some sort of strategy for dealing with it in Iraq. I'm not sure there is one in Syria. And Libya is another problem altogether.
Understand this - as a new company, if you don't know how to get interested prospects into your company, then you don't have a company. At the same time, if you, as a owner, have to drive every lead into your business, then you need a real lead generation strategy.
You can talk all you want about having a clear purpose and strategy for your life, but ultimately this means nothing if you are not investing the resources you have in a way that is consistent with your strategy. In the end, a strategy is nothing but good intentions unless it's effectively implemented.
For I do not seek to understand in order to believe, but I believe in order to understand. For I believe this: unless I believe, I will not understand.
The single most damaging misconception about strategy is that it is a set of financial performance goals. The so-called "strategies" created by many managements are nothing more than three-to-five year financial performance forecasts. They are then labeled "strategy" and shipped off to the board of directors which goes through the motions of discussing how big the numbers are. Strategy is not your aspirations. Strategy is concerned with how you will arrange your actions and resources to punch through the challenges you face.
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