Low Cost Strategy Quotes & Sayings

Any successful hospitality operation - be it a hotel or restaurant, chain or independent, low-cost provider or luxury establishment - requires an effectively performing individual operation. You have to attract the right customers, have the service product, set the right price for your product, and provide the right level of service - all the while managing your employees the right way to achieve your goals. This requires a combination of knowledge from a variety of disciplines, and thus this section includes contributions from our faculty in human resources, management, marketing, operations, and strategy. — Michael C. Sturman

AS STRATEGY SESSIONS BEGAN IN HAWTHORNE, THE Handlers made a brilliant tactical move. They commissioned a toy study from Ernest Dichter, Ph.D., director of the Institute for Motivational Research in Croton-on-Hudson, New York. The study cost a staggering $12,000 and took six months to complete, but when it was finished the charge seemed low. Dichter had masterminded a cunning campaign to peddle Barbie. Dichter was already a legend when the Handlers approached him. Quoted on nearly every page of Vance Packard's The Hidden Persuaders, a bestseller in 1957, Dichter was hailed as a marketing Einstein - an evil Einstein, but an Einstein nonetheless. He pioneered what he called "motivational research," advertising's newest, hippest, and, in Packard's view, scariest trend - the manipulation of deep-seated psychological cravings to sell merchandise. — M.G. Lord

The key questions answered by tipping point leaders are as follows: What factors or acts exercise a disproportionately positive influence on breaking the status quo? On getting the maximum bang out of each buck of resources? On motivating key players to aggressively move forward with change? And on knocking down political roadblocks that often trip up even the best strategies? By single-mindedly focusing on points of disproportionate influence, tipping point leaders can topple the four hurdles that limit execution of blue ocean strategy. They can do this fast and at low cost. Let — W.Chan Kim

A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message. — Jack Welch