TRY A LOT OF STUFF AND KEEP WHAT WORKS
Hello This is me Khizer Farooq and I will be presenting the Chapter 7 i.e. Try a lot of stuff and keep what works from the book Built to Last. Written by James Collins & Jerry Porras.
I will be talking about some of the visionary companies who made their best moves not by detailed strategic planning but by opportunistic experimentation and accident. Visionary companies tried a lot of stuff and kept what worked and got rid of what did not work. Examples Include:
J&J getting into the talc (baby powder) business.
This powder helps to eliminate friction while keeping skin cool and comfortable. Antiseptic gauze: wound dressing treated with a substance that inhibits growth of infectious agents. The first example that we have is of J&J. J&J primarily a supplier of Antiseptic gauze & medical plasters received a letter from a physician who complaint about the patient skin irritation from certain medical plasters. Fred Kilmer, The company’s director of research quickly responded by sending a packet of soothing Italian talc to apply on the skin. He then convinced the company to include a small can of talc as part of the standard package with certain products. To the company’s surprise, customer soon began asking to buy more of the talc directly. J&J responded to the increase in demand for talcum packet by creating a separate product called Johnson’s Baby powder which became a famous household staple around much of the world.
So the company got into this successful product by experimentation or accident not by detailed strategic planning.
Marriott's getting into the business of supplying food to the airlines. Marriot was founded by J. Willard Marriott. Marriot opened first as a root beer and later expended their enterprise into a chain of nine profitable restaurants and hotels. Marriott shop # 8 located near Hoover Airport in Washington, D.C, attracted entirely a different clientele than other...
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