From Obliquity by FT economist John Kay. For most of the 20th century, ICI was Britain’s largest and most successful manufacturing company. In 1987, ICI described its business purpose thus: “ICI aims to be the world’s leading chemical company, serving customers internationally through the innovative and responsible application of chemistry and related science. “Through achievement…… Continue reading How chasing profit can backfire
Tag: profit
Business projections: beware the crystal ball
The chances are that your company has a graph of projected profits over the coming years. It is dangerous. It is dangerous because profit cannot be predicted. Profit can be wiped out by an nimble competitor or shift in consumer trends. Profit can skyrocket due to unforeseen success. Past performance is not a good indicator…… Continue reading Business projections: beware the crystal ball