WSJ (free feature) has an article from the Late Peter Drucker on the five deadly sins of Business. Wow. Amazing. Read it to believe it. That guy was a genius. This article is a reprint of his article from 1993.
The five sins are:
- worship of high profit margins and of “premium pricing”
- mispricing a new product by charging “what the market will bear.
- cost-driven pricing.
- slaughtering tomorrow’s opportunity on the altar of yesterday.
- feeding problems and starving opportunities.
Read the full article here.