TITLE

Thinking Inside the Box

AUTHOR(S)
Cheyfitz, Kirk
PUB. DATE
January 2004
SOURCE
Thinking Inside the Box - Business Book Summaries;2004, Vol. 21 Issue 11, p1
SOURCE TYPE
Book Summary
DOC. TYPE
Book Summary
ABSTRACT
No business advice has been more frequently, or freely, dispensed over the last dozen or so years than that of �thinking outside the box� as the key to success in a rapidly changing, increasingly high-tech environment. The result, for many businesses, and for the economy in general, has been disastrous. Before �thinking outside the box� comes "Thinking Inside the Box." Author Kirk Cheyfitz, veteran journalist and publications entrepreneur, outlines a set of twelve basic, timeless principles�what he calls �The Box��that form the basis of all business success. These rules, the �planks� that make up the box, are timeless because the nature of commerce, in spite of advances in technology, does not change. This fact has become painfully obvious in the wake of the dot-com collapses, the telecom disasters, and the Enron debacle of the 1990s and early 2000s. The corollary of this premise is that managing a business does not require genius nor constant invention, but does require paying attention to history and to present reality while applying hard work and prudence. The first plank of �The Box� is knowing the difference between what will change and what will not, and therefore paying attention to the former. Managers should focus their time on how their customers� lives are changing and on how they can serve customers� needs with new products and services delivered using timeless business models and practices. Among the following eleven planks, or rules, are those that show revenues, expenses, and profits to be the only true, and therefore the only meaningful, metrics. Cheyfitz goes on to show that profits alone are not enough to preserve a company, cash must be managed so that there is enough on hand to meet a company�s obligations. He also discusses concepts such as understanding the importance of the customer relationship, understanding marketing as a defining company-wide function, and understanding how to hire smart people and avoid the trap of micromanaging.
ACCESSION #
16898461

 

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