Why is Costco so Successful

Costco established the warehouse club retail business model, which relies on bargaining power, a no-frills shopping atmosphere, supply-chain efficiencies, and customer-friendly typical markups on branded products. Now, Costco is transforming its no-fuss wholesale business into a global brand. Membership Fees Costco has become a significant shopping destination for consumers across all income levels, as well […]

Southwest Airlines’ Brilliant Marketing

More than anything, Southwest Airlines deserves credit for its exceptional marketing strategy. For decades, Southwest Airlines has convinced American consumers that it have the lowest fares, which is hardly ever the case. Southwest’s average fares have outpaced the industry by 12% since 2009. Nevertheless, I hear repeatedly “I need a cheap last minute ticket; I […]

A Comprehensive List of Books Authored by Management Guru Peter F. Drucker

Famed management guru Peter Ferdinand Drucker spent his life contemplating and writing about how business interests, politics, and human nature interact at companies, non-profits, and governments all over the world. His consultations had an almost legendary reputation in business circles. Peter Drucker wrote influential works about management since the 1940s. He has written about 30 […]

Creating a Winning Corporate Strategy: Jack Welch’s 5 Key Strategy Questions

During his adored tenure as Chairman and CEO of General Electric, Jack Welch created a strategy development framework that was implemented across the vast organization. managers across General Electric used the winning corporate strategy model to gauge their businesses and make decisions about where to go next. Jack Welch advocated that strategy is not something […]

Strategic Success in Joint Venture Management

A joint venture represents the prospect of two businesses that believe that they can collaborate to accomplish marketplace goals that neither could achieve single-handedly. Joint venture partnerships are essential to how multinational companies can best achieve their global business objectives and improve top-line and bottom-line growths. Alliances and joint ventures provide many benefits, including filling […]

The Very Best of GS Elevator Gossip’s Tweets

If you think twitter is just a waste of time, think again. One could argue that twitter is first and foremost just noise and clutter—merely, one more time drain. Twitter can actually be good for something beyond revealing, in less than 140 characters, your whereabouts, posting unintelligent commentary, or which of your friends needs to […]

Sam Walton and Frugality at Wal-Mart

Sam Walton, the iconic founder of Wal-Mart, loved retailing and pursued it with boundless energy. He was famously frugal and devoted to the concept of beating merchandise prices down as part of the trademark “everyday lower prices” promise to customers. Walton once wrote, “A lot of what goes on these days with high-flying companies and […]

Management Guru Tom Peters on Benchmarking

To grow, companies need to escape of the vicious cycle of competitive benchmarking, replication, imitation that’s so much in vogue today. A company cannot simply be remarkable by following some other remarkable business. Here is a classic video of Management Guru Tom Peters discussing the pointless exercise of benchmarking: I hate Benchmarking! Benchmarking is Stupid! […]

Did you know that AOL Missed an Opportunity to Acquire 20% Stake in Amazon.com?

Opportunity knocks but once. Opportunity offers no benefit to a business that is not prepared to see it, seize it, and use it to gain competitive advantage and financial success. Few companies have shunned more long-term opportunities in the pursuit of myopic strategies than AOL as illustrated by it’s failure to acquire a 20% stake […]

The Worst Business Decision Ever (Hint: Xerox)

What crosses your mind when you think of an archetype of failing to recognize enormous business opportunities and renouncing innovations? Xerox PARC, now an independent but wholly-owned subsidiary of Xerox, is celebrated for its pioneering technology inventions. It produced the first computer to use the desktop metaphor and mouse-driven graphical user interface (GUI) to let […]