Best, worst decisions in business

Where are the great minds and best decisions in business — and what have been the great failures? Here are some answers and, perhaps, some lessons for the rest of us.

What do Amazon.com founder Jeff Bezos, Oprah Winfrey and Ross Perot have in common? According to the “Great Minds in Business” feature section at Entrepreneur.com, they are among many visionary entrepreneurs. The site has biographical sketches of dozens of such visionaries, including Steve Jobs, hip-hop promoter Russell Simmons, and McDonald’s Corp. founder Ray Kroc, who is quoted as saying, “The definition of salesmanship is the gentle art of letting the customer have it your way.” tinyurl.com/GreatMindsBiz

Getting book recommendations from financial advisers might not sound so exciting. But for getting a sense of how professional money managers think, this article at Reuters is revealing. The summer reading picks include Warren Buffett’s “Berkshire Hathaway Letters to Shareholders.” It is recommended by Rob Schein, managing director and partner at HighTower in Palm Desert, Calif., who compared reading the collection of Buffett’s famous letters to “getting an MBA for $20.” Another listed pick is “Bull by the Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself,” by the former head of the Federal Deposit Insurance Corp., Sheila Bair. tinyurl.com/FinancialSummerReads

If you were to list “the greatest business decisions of all time,” you might have the makings of a book. That’s just what author Verne Harnish thought, and a few of his picks are listed in an article at Forbes.com. Harnish’s top pick, according to this post: “Henry Ford’s decision to double the wages of his workers enabled him to attract the talent he needed, and helped insure a class of worker who could afford the very products they were building.” tinyurl.com/GreatBizDecisions

What books should young leaders or would-be leaders read? According to the Harvard Business Review, the list should include “The Emperor’s Handbook” by an emperor, Marcus Aurelius; Stephen Covey’s insightful “The Seven Habits of Highly Effective People”; and nine other volumes. “At the very least,” says blogger John Coleman, “reading broadly can make you a more interesting conversationalist.” tinyurl.com/11BooksforLeaders

What are some of the worst business decisions of all time? The website 247wallst.com compiled a list last year, including Eastman Kodak’s decision to focus on film photography after developing a digital camera in 1975, and Firestone’s decision to blame tire failures on substandard maintenance by consumers in the 1970s. tinyurl.com/WorstBizDecisions

—-

&Copy;2013 The Philadelphia Inquirer

Visit The Philadelphia Inquirer at www.philly.com

Distributed by MCT Information Services

More in Herald Business Journal

Stan Jones (left) father of Vice Chairwoman Teri Gobin, gets a handshake from Jared Parks while Herman Williams Sr. hugs Bonnie Juneau (right) after the Tulalip Tribes and Quil Ceda Creek Casino held a groundbreaking ceremony for the new Quil Ceda Creek Casino Hotel on Tuesday at the Tulalip Reservation. The casino hotel will be built on 16 acres of ancestral tribal land and will feature a main casino that will showcase as many as 1,500 slot machines. (Andy Bronson / The Herald)
Tulalips break ground on new Quil Ceda Creek Casino Hotel

A 150-room hotel was added to what is now a $140 million project in Tulalip.

“Women Make Us Better,” a video on the Boeing Co. website features 15 female engineers. (All images Courtesy The Boeing Company)
For modern women, 98-year-old rejection letters still sting

In a stark new video, female Boeing engineers break the silence of an embarrassing past.

Teddy, an English bulldog, models Zentek Clothing’s heat regulating dog jacket. (Ian Terry / The Herald)
Everett clothing company keeps your dog cool and stylish

Zentek uses space-age fabrics to moderate the temperature of pets and now humans.

Trudeau snubs Boeing, unveils plan to buy used Aussie jets

Trudeau will be assessing the impact fighter jet contracts have on his country’s economy.

Boeing raises dividend 20%, continues stock buyback program

The manufacturer said it has repurchased $9.2 billion worth of its shares this year.

Everett engineers learn lessons from Mexico City catastrophe

Structural scientists went to help after the September earthquake there and studied the damage.

Providence Hospital in Everett at sunset Monday night. Officials Providence St. Joseph Health Ascension Health reportedly are discussing a merger that would create a chain of hospitals, including Providence Regional Medical Center Everett, plus clinics and medical care centers in 26 states spanning both coasts. (Kevin Clark / The Daily Herald)
Merger would make Providence part of health care behemoth

Providence St. Joseph Health and Ascension Health are said to be talking. Swedish would also be affected.

Hospital companies merge as insurers encroach on their turf

An anticipated deal between Providence St. Joseph Health and Ascension is only the latest.

DaVita to sell off medical groups including The Everett Clinic

Another round of health care consolidation means The Everett Clinic could soon get new ownership.

Most Read