BUSINESS PHILOSOPHY “developing your business from philosophical guide”

Many so called “entrepreneurs” sometimes try to copy and implement the organizational strategy and models of some successful firms. They do this expecting an instant success. But most times, they fail. Why?

Years ago, a particular international brand attempted producing a product that will rival a major international soft drink. Of course, the system, structures and policy for the rival product were well laid and orchestrated, yet the product failed.
Why? You may ask; it’s because the counter brand fails to take into cognizance the “domineering force” of philosophy.

What then is business philosophy?

Business philosophy is an underlying ideology that births the formation of a business organization. It is the centralized thought that gives an organization its uniqueness, determines its model and structures.

Philosophy birthing businesses is usually non-concrete, but therein lies a wisdom that not only cause the success of such business, but it also determine its distinctiveness.

So, to succeed as a business leader,

a. Sit the centralized principle that births your enterprise. For instance, that of coca-cola is refreshment. Understanding this, will help you in accurately engineering a product out of that prevailing philosophy. That is what gives uniqueness and utmost success.

b. After understanding your philosophy, you will need to creatively engineer your philosophy to produce products that will adequately cater for the various sector of the economy. For instance, if your centralizing philosophy is communication; creatively create a communication product that will adequately cater for the needs in education, health care and other sector of the economy.