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10 Rules for Building a Great Business

 

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Vadim Kotelnikov

By: Vadim Kotelnikov

Inventor and Founder

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  1. Believe in your vision and your business. Commit to it. If you and your people love what you do, you'll try to do it the best you possibly can.

  2. Define shared values and let values rule. As Steve Jobs, the co-founder of Apple Computer, put it, "The only thing that works is management by values. Find people who are competent and really bright, but more importantly, people who care exactly about the same things you care about."

  3. Build and synergize corporate capabilities that will help your business achieve its vision. Focus on distinctive capabilities that cannot be copied by your competitors.

  4. Focus on your customer. Create a customer-centric business model, stay close to your customers, listen to them and partner with them to create superior customer value.

  5. Create a winning organization.  Cultivate leaders. Create hot teams, inspire, energize, and empower employees. Create an adaptive organization. Build a growth culture. Search for synergies. Leverage diversity.

  6. Reinvent your business continually. Work on your business. Set stretch goals. Search for new opportunities. Facilitate cross-pollination of ideas. Make brainstorming a religion.

  7. Surprise markets and competitors by introducing disruptive products. Encourage creativity and radical idea generation. Challenge assumptions, break rules. Insulate radical innovation projects from corporate bureaucracy. Allow experimentations. Give people freedom to fail and start again more intelligently.

  8. Live speed. Build a fast company. Think fast. Make fast decisions. Simplify everything. Eliminate bureaucracy. Pursue opportunities faster than your competitors.

  9. Institutionalize innovation. Establish culture supporting innovation, innovation processes and metrics. Create cross-functional teams driving innovation, provide strategic alignment and necessary resources.

  10. Make business fun.  Business today is about passion, fun, and winning. Don't take yourself and your business too seriously. Get less formal. Make fun part of your culture. Establish creative chaos environment. Celebrate success.

 
 

 

 

 

 

 Discover much more!

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6Ws of Sustainable Corporate Growth

8 Best Practices of Successful Companies

The Tao of Business Success

Rules for Business Success

Strategies of Market Leaders

Sustainable Competitive Advantage

Systemic Innovation

Business BLISS

Winning Organization

Inspiring Culture

Innovation-friendly Organization

Flat Organizational Structure

Developing the Fast-paced Flexible Culture

Leveraging the Power of Diversity

Managing Innovation by Cross-functional Teams

Innovation

Continuous Innovation

Innovation Strategies

Systemic Innovation

The Jazz of Innovation

Corporate Leader

Business Architect

25 Lessons from Jack Welch

10 Rules of Sam Walton

Case Studies

Amazon.com: New Business Model

BP: Unleashing the Power of Corporate Learning

Canon Production System (CPS)

Charles Schwab: Fast Company

Coco Chanel: Be Different

Corning: Managing Radical Innovation Through Internal Startups

Dell: Strategies that Revolutionized an Industry

GE: Creating an Extraordinary Organization

Hewlett-Packard: Integrating Critical Opposites

Infosys: 5 Keys To Building a Great Company

Microsoft: Sharing Knowledge

Silicon Valley Firms: Relentless Growth Attitude

Thermo Electron: Managing Radical Innovation Through Spin-Outs

Toyota Production System (TPS)

 
 
 

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