Goktug Yilmaz's Reviews > It's Not Luck

It's Not Luck by Eliyahu M. Goldratt
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it was amazing
bookshelves: audio


Theory of Constraints:
- Whenever we face a conflict we should not attempt to avoid it by compromising. First step is to precisely verbalize the conflict, then we can find how to break it.
- You can always turn a problem into an opportunity.

Generic:
- Most of the money invested in the market belongs to pension funds for retirement income. Not banks or rich investors.
- People are strange. If reality doesn’t mimic their expectations, if the precaution that they took turns out to be unnecessary, they feel disappointed. Ex: People who complain about never collecting on their own life insurance.
- One thing more nerve-wracking than being a warrior is being the one waiting behind the lines for the warriors to win.
- The market punishes companies that don’t satisfy the market perception of value
- You can fool a few customers for a long time. You can mislead many customers for a short time. But you cannot mislead many, for long.
- Trying to forecast the market is like trying to capture the wind.
- Most people: Give me all the authority, none of the responsibility.
- As long as you haven’t established a decisive competitive edge in many segments of the market, you should feel exposed. Because the competitors will catch up. There is no absolute competitive edge, it’s just a window of opportunity, which will be closed.

A goal of a company should be:
- Making money now as well as in the future
- Provide a secure and satisfying environment for employees now as well as in the future.
- Provide satisfaction to the market now as well as in the future.

- Making money is much more tangible than the other two. It’s the only one that can be measured. Making money can be measured just because of a coincidence. Somewhere in prehistory a genius invented a way to compare wheat to goats. He or she invented the abstract unit of money, a currency. No one yet has invented a unit of measure for security or satisfaction.


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Reading Progress

November 20, 2017 – Shelved
November 20, 2017 – Shelved as: to-read
November 20, 2017 – Shelved as: audio
March 28, 2019 – Started Reading
April 19, 2019 – Finished Reading

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