Firms Quotes

“Because the bulk of a platform's value is created by its community of users, the platform business must shift its focus from internal activities to external activities. In the process the firm inverts-it turns inside out, with functions from marketing to information technology to operations to strategy all increasingly centering on people, resources, and functions that exist outside the business, complementing or replacing those that exists inside a traditional business.”

“Because the bulk of a platform's value is created by its community of users, the platform business must shift its focus from internal activities to external activities. In the process the firm inverts-it turns inside out, with functions from marketing to information technology to operations to strategy all increasingly centering on people, resources, and functions that exist outside the business, complementing or replacing those that exists inside a traditional business.”

“Competition is often conflated with capitalism, but they are not at all the same. Capitalism involves private ownership of the means of production and distribution, but the word implies nothing about the way in which privately owned firms do business. Capitalism is perfectly compatible with a society in which a powerful state doles out favors to private monopolies, protects some enterprises from others, or even sets the prices privately owned firms may charge for their products. Indeed, while capitalists tend to praise the virtues of competition, many of them would just as soon avoid it.”

“A very focused Chinese government, with firm, long-term social and economic goals, and an increasingly assertive international voice, is feeling more pressure from the Chinese dreamers, and is putting more pressure on foreign business interests. The foreign multinationals have their purposes, but also feed resentment that so much of China’s hard work results in easy profits for foreign brands and foreign shareholders. This new reality requires foreign firms to pay much more attention to the social context, and to ensure that they can manage the increased political and regulatory risk. From "Risky Business in China" (Palgrave, September 2014)”

“As these contrasts show, capitalism has undergone enormous changes in the last two and a half centuries. While some of Smith’s basic principles remain valid, they do so only at very general levels.For example, competition among profit-seeking firms may still be the key driving force of capitalism, as in Smith’s scheme. But it is not between small, anonymous firms which, accepting consumer tastes, fight it out by increasing the efficiency in the use of given technology. Today, competition is among huge multinational companies, with the ability not only to influence prices but to redefine technologies in a short span of time (think about the battle between Apple and Samsung) and to manipulate consumer tastes through brand-image building and advertising.”

“Nothing firms up a friendship like a good-natured argument.”

“Excellent firms don't believe in excellence - only in constant improvement and constant change.”

“Self-trust firms up your inner territory and grounds you with solid premises for believing in who you are.”

“we founded Editas Medicine with $43 million in financing from three venture capital firms.”

“I am pleased to be part of Promontory's steady efforts to assist banks and other financial firms in meeting legal and regulatory obligations and challenges.”

“Remember, aid cannot achieve the end of poverty. Only homegrown development base on the dynamism of individuals and firms in free markets can do that.”