Business Consultant Peter Switzer makes an excellent point about staying in touch with customers to optimise business outcomes. He says that waiting for government help really is a mug’s game. A far better way to induce extra business growth for those fighting a high Australian dollar and internet rivals is to look at the work of Amancio Ortgega Gaona of Zara fashion fame AND third richest man in the world! (according to Forbes magazine.
Ortega’s approach has been simple: copy the best and the fashionable, but do it cheaply and quickly while selling it in ‘high-end looking’ stores – a ‘ripper’ business plan! This master
“now makes 840 million garments a year and has around 5900 stores in 85 countries.”
There must be a dialogue with the customer – the company learns from this.
Store managers apparently make reports daily to head office, explaining what customers like or dislike about the products and this is fed into the production line quickly.
In all spheres this is what matters – including politics. Peter Switzer observes it’s what worked for Kevin Rudd in 2007 and may explain what ails the Prime Minister.
A basic rule that works but the mind boggles at the logistics!