By Carl W. Stern, Michael S. Deimler
A set of the easiest pondering from the most leading edge administration consulting companies within the worldFor greater than 40 years, The Boston Consulting crew has been shaping strategic considering in enterprise. The Boston Consulting team on method deals a huge and up to date collection of the firm's top principles on approach with clean principles, insights, and useful classes for managers, executives, and marketers in each undefined. here is a sampling of the provocative pondering you will discover inside:"You need to be the scientist of your individual lifestyles and be astonished 4 times:at what's, what continually has been, what as soon as used to be, and what may be.""The majority of goods in so much businesses are funds traps . . . .[They] will not be merely valueless, yet a perpetual drain on company resources.""Use extra debt than your festival or get out of the business.""When info flows freely, acceptance, greater than reciprocity,becomes the foundation for trust.""As a strategic weapon, time is the identical of cash, productivity,quality, even innovation.""When manufacturers develop into company structures, model administration turns into some distance too very important to depart to the promoting department.""The successful association of the long run will glance extra like a suite ofjazz ensembles than a symphony orchestra.""Most of our firms this day derive from a version whose unique goal was once to manage creativity.""Rather than being a disadvantage, uncertainty is the very engine of transformation in a company, a continual resource of latest opportunities.""IP resources lack transparent estate strains. each piece of highbrow estate you could personal comes with connections to different invaluable innovations."
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Additional resources for The Boston Consulting Group on Strategy: Classic Concepts and New Perspectives
The horizontal scale Is the total cumulative output of the specific firm involved to that year. SOURCE: Confidential information from General Electric, Westinghouse, and Allis-Chalmers was made available in public records as the result of antitrust litigation. The experience curve is a contradiction of some of the most basic assumptions of classic economic theory. All economics assumes that there is a finite minimum cost that is a function of scale. This is usually stated in terms of all cost/volume curves being either L-shaped or U-shaped.
The reasons for the experience curve effect are not particularly important. The important fact is that the exper ience cur ve is a 18 THE DEVELOPMENT OF BUSINESS STRATEGY universally observable phenomenon. If costs do not go down in a predictable fashion, then and only then do the underlying reasons become important. Analysis will usually show the reasons to be inadequate investment, improper value-added def initions, or occasionally just mismanagement. Summary The experience curve is the result of the combined effect of learning, specialization, investment, and scale.
The nature of competition changes drastically with continued growth. Cost elements shift dramatically in relative weight even though all may decline in real terms. Production costs shift from labor to raw materials and capital costs. Marketing costs shift from selling, education, and service to logistics. Distribution costs begin to overshadow production costs in some kinds of businesses, and the opposite happens in other kinds. Competitive economics do shift with change in scale, growth rate, and product maturity.