What did history teach you?
11 Business Lessons: This Is What History Has Taught Us
We can also take a deep breath: The speed at which the economy and society are changing is not as enormous as many people think. While it is true that changes will occur at a faster pace from time to time. But it cannot be confirmed what the Canadian Prime Minister Justin Trudeau Claimed earlier this year:
"The pace of change has never been this fast, yet it will never be this slow again."
This is good news, as it means that we can tackle the many challenges our society is facing constructively - and that one look in the past can be worthwhile at times. The same goes for the business world, of course! Come here 11 lessonsthat you can learn from the history of companies for your own future.
1. Just as it always was
Everything changes, that's for sure. But business is always driven by people, and they People haven't changed much. At the most basic level, people are driven by emotions. Unfortunately, the strongest emotions are in the business context Greed and fear. Therefore, we will continue to see asset bubbles burst. There will continue to be cheaters and swindlers like Charles Ponzi and Bernie Madoff. And so on.
2. Pay attention to the break
People and companies have a tendency to get excited and hyperventilate when change is imminent. It's about Risk and opportunityto fear and greed. But even if a major technological leap is made, the most important thing is what comes next - the "break", if you like. For example, while there have been major breakthroughs in robotics technology, what is most important is its application in the years to come. The jump is just a starting point, we have to watch out for the break!
EXTRA: That's why you need a product vision: 6 reasons
3. When the price goes down
If we want to find moments of real change, we must not look for the birth of an idea or a particular technology. Instead we have to deal with price developments. If the price of a product or a commodity goes down, there is a reason, and things are likely to have a big impact. And when the production volume increases, we know it's actually happening. The history of aluminum is a good example.
4. Don't develop a product, develop a system
If you want to win the market and have a lasting positive effect on it, you have to build a system. History has shown us that Systems more important than their products are. Why? Because systems deliver results on a level that goes beyond the system manufacturer himself. Henry Ford with its assembly line and integrated supply chain is arguably the best-known example in history. Today it's Amazon boss Jeff Bezos.
5. Structure according to local needs
The decision to build a system is one thing - how to build it is quite another. There is no single recipe for it. Instead, the best you can do is look for one local market and its needs to judge.
In Sweden, for example, a special sociological situation arose after the Second World War: young people began to move in together before marriage. These young couples temporarily needed cheap furniture. Who came to the rescue? A company called IKEA. As it turned out, what was initially local demand soon became global. The rest of the story is well known.
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