Ch 11: How Companies Cope

“Everybody wants economic growth, but nobody wants change.” This statement is so true. I think as human beings, most of us are opposed to change, or at least initially. Sometimes people have the view, if it ain’t broke, why fix it? Even if your business is not doing terrible, if there is the opportunity for growth and innovation that comes through change, why not then take advantage of it? Maybe if a corporate culture would be drawn to embrace change and see it as a fun and exciting way to improve one’s self, then more businesses would be able to flourish in the long run. Sometimes businesses want to, but they have trouble getting their employees to enthusiastically go along for the ride.

Friedman says that all of the top businesses are the ones that are constantly changing. He gives a few rules that the top businesses go by. The first one is when the world is flat, whatever can be done will be done, the only question is if it will be done by you. This is important because if you have a good idea, just go for it. If you hesitate, with all the available information that is out there, chances are someone will tap into your new market first and steal your market share with a similar idea. The third rule that I like is “And the small shall act big…” This gives hope to small companies that they are just as competitive as the big ones with all the money.

My favorite rule that I always thought about (which was before I read this book) is that big companies shall act small. Starbucks is a great example. They are always listening to what their customers want. They do not dictate what services they will provide their customers, rather they let their customers dictate to them what service they want. They treat you in every Starbucks as a person, not just a number that is boosting their revenue. They make your experience a relationship as opposed to a transaction. They greet you by name, and not once have I ever came across a rude employee. Their coffee may be overpriced, but I am willing to pay a couple extra bucks to get the up most personal service I receive there. Friedman also mentions six other rules, but I feel most of them are pretty much obvious after reading the book so far.