The World's Best Book Summaries
What are Patagonia’s best innovation practices? What makes Patagonia stand out from other outdoor apparel companies? After launching Patagonia, Yvon Chouinard quickly discovered that running an apparel business wasn’t the same as making climbing equipment. The company quickly had to pull together creative strategies that would help it succeed. Keep reading to learn more about Patagonia’s innovation strategies.
What should you consider when creating a business model? How should you evaluate and test a new model? A business model defines how a company creates, delivers, and captures economic value. Drawing from concepts in the books Business Model Generation and Running Lean, we’ve created six exercises containing several business model questions that will help you devise a model that fits your vision. Continue reading for these exercises you can do with your team.
Has your business stalled out on the path toward your vision? What have you failed to consider? What questions do you need to answer? If you’re a business leader, you’re concerned about your company’s growth—regardless of the phase of growth it’s in. We’ve put together 13 exercises containing a total of 44 questions to ask about company growth that are based on concepts in Built to Last, The E-Myth Revisited, Traction, and Zero to One. Read on for these practical exercises you can do on your own or with your managers.
What explains how Amazon became successful? What did the company do differently? Amazon became successful by creating a strong business culture based on giving value to the customer before all else. If you take a close look at Amazon’s guiding principles and strategies, you’ll see that many of its tools can be used in other businesses too. Continue reading to see how Amazon grew from a startup into the successful business it is today.
What is Amazon’s business strategy? What tools do they use to grow as a company? Amazon’s business strategy centers on four tools: the product development proposal, the deep thinking document, the DMAIC process, and big-picture planning. Seeing the way that Amazon uses each of these tools is a great way to grow your own business strategy. Keep reading for an in-depth look at each of these tools.
What is a product development proposal, and what is its purpose? How does Amazon use product development proposals? The product development proposal, or PDP, is a two-part document including a hypothetical press release and frequently asked questions that you create before developing a new product. By looking at how Amazon uses the PDP, you can get a sense of good product development processes. Read on to see what a good product development proposal looks like and how it is used.
What does it take to build a million-dollar business? Should you sell or scale a business after it hits success? Reaching a point where your business is valued at a million dollars is an entrepreneur’s dream. Getting there from scratch requires passion, innovation, and delivering what the customer wants. Here’s how to turn your idea into a million-dollar business that’ll just keep growing.
Why is hustle culture toxic? Is organizational growth always a good thing for business? In today’s “hustle culture,” many workers end up ruining their lives in their attempts to get ahead in their careers. They sacrifice the time and energy they should be spending on their lives outside of work. Keep reading to learn how organizations appeal to hustle culture and one solution for solving it.
Who defines the mission and objectives of a business? Is making a profit the most important part of business? According to The Essential Drucker by Peter Drucker, management is directly responsible for whether the organization’s efforts produce its desired results. Managers do this by articulating an enterprise’s mission and spelling out its objectives. Let’s look at how managers create and carry out a company’s mission.
What was Jeff Bezos like before Amazon? How did he get interested in the online world? In Invent and Wander, Bezos recounts his life prior to finding the largest online retailer in the world. Bezos inherited many of his leadership traits from his family and developed an early love for computers that would change his life. Keep reading to learn more about Jeff Bezos before Amazon.