Financial quotes

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Warren_Buffett

Money Versus Business

“So as a practical matter we need management with the businesses that we buy and three times out of four thereabouts the manager is the owner and is receiving tens of millions maybe hundreds of millions of dollars so they don't have to work and we have to decide in that time when we meet them whether they love the business or love money... I'm not making a moral judgment about whether it's better to love the business or love money but it's very important for me to know which which of the two is the primary motivator with them... so all all we have to do is avoid anything that on our part that diminishes that love of the business or makes other conditions so intolerable that they overcome that love of the business. We have a number of people working for us that have no financial need to work at all and they probably outwork 95 percent or more of the people in the world and they do it because they just they love smacking the ball.”
Keywords: Practical_quotes Matter_quotes Management_quotes Business_quotes Owner_quotes Receive_quotes Money_quotes Work_quotes Decide_quotes Love_quotes Morality_quotes Judgment_quotes Knowledge_quotes Diminish_quotes Motivator_quotes Primary_quotes Avoid_quotes Condition_quotes Intolerable_quotes Overcome_quotes People_quotes Financial_quotes Need_quotes Outwork_quotes Do_quotes Smack_quotes Ball_quotes

Patrick_Vlaskovits

Faster Horse

“However, even if Ford didn’t verbalize his thoughts on customers’ ostensible inability to communicate their unmet needs for innovative products — history indicates that Henry Ford most certainly did think along those lines... Henry Ford froze the design of the Model T... Ford had no compelling reason to innovate in any other sphere other than cost and price reduction... But everything changed with the onset of the innovations introduced by General Motors in the 1920s, which took the direct opposite of Henry Ford’s tack of “Any color … so long as it is black” and is best summed up by Alfred Sloan’s consumer-research driven “A Car for Every Purse and Purpose”... In 1921, the Ford Motor Company sold about 2/3 of all the cars built in the U.S. By 1926, this share had fallen to approximately 1/3. And in 1927, when Ford belatedly responded (at tremendous financial cost and internal strife) to changes in the market’s tastes and competitive innovation by shutting down production temporarily to re-tool his factories and bring the Model A to the market, that percentage fell to about 15%... Yes, some customers in certain types of businesses are quite capable of verbalizing precisely what sort of innovative product one could build and sell them. And of course, customers in other types of businesses are wholly incapable of verbalizing, with any sort of fidelity whatsoever, what they need and why they need it. An innovator should have understanding of one’s customers and their problems via empirical, observational, anecdotal methods or even intuition. They should also feel free to ignore customers’ inputs. Because by now it should be clear that Ford’s adherence to his vision of the mass-market car and how to materialize that vision was instrumental in both his early success in growing Ford Motor Company as well as his later failure to respond in a timely and effective manner to rapid innovation in the marketplace.”'
Keywords: Ford(topic)_quotes Sloan(topic)_quotes Verbalize_quotes Thinking_quotes Customer_quotes Requirements_quotes Ostensible_quotes Inability_quotes Communication_quotes Unmet_quotes Need_quotes Innovation_quotes Product_quotes History_quotes Freeze_quotes Design_quotes Model_T_quotes Automobile_quotes Compel_quotes Sphere_quotes Cost_quotes Price_quotes Reduction_quotes Change_quotes General_Motors_quotes Consumer_quotes Research_quotes Opposite_quotes Color_quotes Black_quotes Car_quotes Purse_quotes Ford_Motor_quotes Build_quotes United_States_quotes Share_quotes Market_quotes Belated_quotes Respond_quotes Tremendous_quotes Financial_quotes Internal_quotes Strife_quotes Taste_quotes Competition_quotes Shut_quotes Production_quotes Tool_quotes Factory_quotes Model_A_quotes Percentage_quotes Type_quotes Business_quotes Capable_quotes Precise_quotes Sort_quotes Sell_quotes Incapable_quotes Fidelity_quotes What_quotes Why_quotes Understand_quotes Problem_quotes Empirical_quotes Observation_quotes Anecdotal_quotes Method_quotes Intuition_quotes Feel_quotes Free_quotes Ignore_quotes Input_quotes Clear_quotes Adherence_quotes Vision_quotes Mass_quotes Innovator_quotes Materialize_quotes Instrumental_quotes Success_quotes Early_quotes Grow_quotes Later_quotes Failure_quotes Timely_quotes Effective_quotes Manner_quotes Rapid_quotes Marketplace_quotes Horse_quotes Faster_quotes

H_G_Wells

Competent Receiver

“This complex problem of the competent receiver is the underlying problem of most of our constructive politics. It is imperative that every voter should have some conception of the experiments in economic control that are in progress in Great Britain, the United States of America, Italy, Germany, Russia, and elsewhere. Such experiments are going to affect the whole of his or her life profoundly. So, too, are the experiments in monetary and financial organization. Many of the issues involved go further than general principles. They are quantitative issues.”
  • Source: Wells, H. G. (1938). World Brain chap. II (The Brain Organization of the Modern World). London, UK: Methuen and Co. Retrieved from http://www.gutenberg.org/
Keywords: Complex_quotes Problem_quotes Competence_quotes Receiver_quotes Underlying_quotes Construct_quotes Political_quotes Imperative_quotes Voter_quotes Conception_quotes Experiment_quotes Economics_quotes Control_quotes Progress_quotes Great_Britain_quotes United_States_quotes Italy_quotes Germany_quotes Russia_quotes Affect_quotes Life_quotes Profound_quotes Monetary_quotes Financial_quotes Organization_quotes Issue_quotes Involve_quotes Generality_quotes Principle_quotes Quantitative_quotes
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