A Quote by Peter Drucker
"Value added" is a meaningless concept for a retail business , for a bank, for a life insurance company, and for any other business which is not primarily engaged in manufacturing.
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Long ago I added to the true old adage of "What is everybody's business is nobody's business," another clause which, I think, morethan any other principle has served to influence my actions in life. That is, What is nobody's business is my business.
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
My family was in two businesses - they were in the textile business, and they were in the candy business. The conversations around the dinner table were all about the factory floor and how many machines were running and what was happening in the business. I grew up very engaged in manufacturing and as part of a family business.
... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,--if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.
I believe there is not any big difference between any consumer business, whether it's a bank or insurance or vodka or chocolate, whatever it is.
Taiwan must find its own way. We have been emphasizing too much the manufacturing business. We have to become more high-tech, more innovative, and provide more value. We can't always insist on the value of low-cost production. We have to invest more in R&D to get high-value business.
I moved my business to Mobile Insurance because they simply understand my business better than any other insurance agency. My prior agent didn't really understand my coverage. Mobile Insurance President Kurt Kelley came in and was able to explain those coverage issues in detail to me and my legal counsel. He also saved us money and found us better coverage.
Whatever the trend in exchange rates or whatever the external factors, a manufacturing company is always faced with the mission of transforming itself into a company that can produce higher value-added to absorb the increase in the cost of living in the country it's operating in.
Life is empty. Life is meaningless. When we take a life, we arn't taking anything of value. Wetboys are killers. Thats all we do. Thats all we are. There are no poets in the bitter business.
My father has a manufacturing company in Kentucky and he's an electrical engineer. A brilliant man. A brilliant businessman. So he understands the business aspects of my business very well. My dad and I always communicate when I have to negotiate a deal.
My father has a manufacturing company in Kentucky, and he's an electrical engineer. A brilliant man. A brilliant businessman. So he understands the business aspects of my business very well. My dad and I always communicate when I have to negotiate a deal.
Wherever you go in the galaxy, you can find a food business, a house-building business, a war business, a peace business, a governing business, and so forth. And, of course, a God business, which is called 'religion,' and which is a particularly reprehensible line of endeavor.
CIOs have earned a strategic seat at the table, but now they've got to hold that seat - and the only way they can do that is to converse in the language of business value and business benefits and business outcomes that all align perfectly with the strategic agenda of the company.
Normally, we define banks as being either retail or corporate, but ICICI transformed itself from a corporate bank into a retail bank and, now, a universal bank.
As I've progressed in my career, I've come to appreciate - and really value - the other attributes that define a company's success beyond the P&L: great leadership, long-term financial strength, ethical business practices, evolving business strategies, sound governance, powerful brands, values-based decision-making.
The whole concept of treating people with dignity and respect is a concept that isn't a business concept, it's a life concept. It's who you are at the end of the day.
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