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Research

How Has Coronavirus Affected the Food Service and Events Industry? [STUDY]

29 September 2020

Principle of the day

Parkinson’s law

Work expands to fill the time available for its completion; time constraints can counter process bloat.

Cyril Northcote ParkinsonBritish historian and author associated with Parkinson’s lawSource: Parkinson’s law

Quote of the daybusiness

A business that makes nothing but money is a poor business.

Henry FordFounder of Ford Motor CompanyAttributedView profile: Ford

Quote of the dayblue ocean strategy

Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand.

W. Chan KimSouth Korean-born INSEAD strategy professor and co-creator of the blue ocean conceptSource: What Is Blue Ocean Strategy?

Principle of the day

Unintended consequences

Unintended consequences can undermine an intended effect; test reactions and side effects before a campaign.

Robert K. MertonAmerican sociologist who wrote about unintended consequences of social actionSource: Unintended consequences

Quote of the daystrategic results

Effectiveness is doing the right things; efficiency is doing things right.

Peter F. DruckerAustrian-born American management thinker and author on strategyAttributed

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