In his book Good to Great, Jim Collins writes of foxes and hedgehogs: the fox knows many small things, but the hedgehog knows one bighting. If we were to apply this concept to books, Chris Anderson’s The Long Tail would be a hedgehog. It has essentially one big idea—that the nature of demand has changed [...]
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Marketing DuringTough Times
Introduction
In economic downturns, you must constantly evaluate the impact of your actions on both your short-term and long-term financial performance. Three general rules to be followed are: Avoid reactionary budget cuts; position with value engineering; and select products, services, and above all, customers.
Avoid Reactionary Budget Cuts
During difficult economic times, often organizations completely abandon their marketing [...]
New Generation Islamic Banks
New Generation Islamic Banks
Introduction
The ideology behind Islamic banking, i.e., `interest-free banking’, is based on basic ethical standards with just one main difference – Muslims are not allowed to pay or receive interest. This does not mean that business activities or making a profit are not encouraged, in fact, they are, but only as long as [...]
What Went Wrong in Citigroup
Citigroup’s tale is considered to be a case of bad market conditions and not necessarily of a bad model. It admits that its own internal risk management team and other executives never understood what it takes to succeed as an integrated financial supermarket. Reports indicate that its past acquisitions were not properly integrated, cultures were [...]
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