Wednesday, 21 August 2013

Globalization and rivals

You've got a great idea and a great team to put it in place, so what can possibly go wrong? How about a rival in Taiwan coming up with the same thing using cheaper labor and selling their product directly into your market via the web? Don’t trust that your brilliance will keep you ahead of the game or that this year’s good idea will last forever. Someone somewhere will build a better mouse trap.
Defining idea…
Every business and every product has risks. You can’t get around it.
Lee Iaccoca, American industrialist
Here’s an idea for you…
Got an employee worth their weight in gold? Appoint them as a mentor to someone else and have that person shadow your wunderkind. In particular have them work as a team with clients so the shadow becomes seen as the apprentice and heir apparent to the star.

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