A Quote by Shaquille O'Neal
Since I suffered the injury on company time, why shouldn't I also be able to get surgery and do recovery on company time?
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Beats is inherently different: the company is a consumer electronics company but also a media company; a packaged goods company but also an entertainment company.
When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn't you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.
If the only common thread you have as an industrial company is the fact that you think you're well managed, you can still be a pretty good company, but you're not going to be a dominant company, a competitive company over time.
I described the CEO job as knowing what to do and getting the company to do what you want. Designing a proper company culture will help you get your company to do what you want in certain important areas for a very long time.
One of the gamebook series I created, 'Fabled Lands', is also the name of my company, and the reason we named the company after it is that it was pretty revolutionary for its time.
When top executives get huge pay hikes at the same time as middle-level and hourly workers lose their jobs and retirement savings, or have to accept negligible pay raises and cuts in health and pension benefits, company morale plummets. I hear it all the time from employees: This company, they say, is being run only for the benefit of the people at the top. So why should we put in extra effort, commit extra hours, take on extra responsibilities? We'll do the minimum, even cut corners. This is often the death knell of a company.
Employees are your most valuable assets. They are the heart and guts of a company. This doesn't mean that from time to time, you aren't going to do what is good for the company.
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.
At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.
Small-company stocks, like any asset class, can get picked over from time to time, but there are fundamental reasons why diligently mining them with an eye for unrecognised value can get market-beating returns.
I never said that I wanted to be the only company, is it my fault that I ran my company well? Wouldn't you want the best for your company? Also consider that I started of small.
I think I've always been able to see what's coming, and when I was joining Google, people always said, 'Why are you joining this company?' It was so small at the time. I could see the importance of Google. I could see the way it was going to grow; it was going to become a big company.
And I was asked if I would come and help with the recovery of this great British company, Cable and Wireless, and I'm delighted to become part of the new and very talented management that have been brought in to that company as well.
The problem we encountered with Wave at Google was that we became very isolated from the rest of the company. And in the time that it took us to build Wave, the rest of the company changed direction. I think that has a lot to do with why the product failed.
What you should be in a rush for isn't necessarily the immediate monetary return, but it's to know that this equation existing between an employee and a company is being honored. What's the equation? I'm going to give you my most precious thing that I have - my time and my reputation. That's what the employee says. And the company says I'm going to take your time and your reputation and direct it at things that we believe collectively have a huge impact opportunity to do something extremely positive. And that positivity will get measured in impact and also economic upside.
We recognize that our employees are instrumental to our success, which is why we look for the best and the brightest in the industry. We consider ourselves not only a technology company, but also a learning company.
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