Best Business Decisions Ever - What are some of the best business decisions ever?
Well, first, what constitutes a “good” business decision? Something that saves money– makes money. I suppose that depends somewhat on who you talk to. It could be a decision that involves being safe, small growth and and good old fashioned logic. On the other side of the spectrum, it could be a huge risk based on a gut feeling– some dramatic change that is nothing more than a roll of the dice.
Best Business Decisions Ever
Let’s look at what some of the experts have to say.
Business Insider says:
- Invest in good employees: Henry Ford decided to double his workers’ salaries and it paid off.
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- Never let a crisis go to waste.
- Be okay with counter-intuitive strategy.
Money CNN says:
- Don’t be afraid to admit your mistakes: Apple took back Steve Jobs in 1997 after letting him go years before.
Best Business Decisions Ever
- Take risks. Especially when you know they’re going to change history no matter what the outcome. Although it wasn’t financially a safe bet, Boeing decided to proceed with the 707. It eventually paid off, with the company’s value going through the roof by the next year.
- Do the right thing. In 1982 reports of aspirin pills being laced with cyanide and killing people were surfacing in Chicago. The company pulled every bottle from the shelf, coming to a cost of $100 million. But it saved their reputation.
- Don’t look inward. Perhaps more than anything, the companies that succeed are the one’s that are brave enough to put their finger on the pulse of culture and society and take a risk.
Related: Brands that came back from the dead
Best Business Decisions Ever
Hello Emily,
Great article! Success business is about working with the right people, having a solid social responsibility, taking calculated risks and believing in what you are doing. What else do you write about.
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