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Summary
In remarks
prepared for a "Web TV" broadcast Interview on WCRI (www.WRCI.com)
Dave Dickler, Chief Financial Officer of Lighting Components and Design,
spoke about the "Characteristics of Successful Companies in the
New Millennium." He said companies should focus on these elements:
- "Businesses
create value when they provide a product or service that the customer
perceives as uniquely valuable - not when "Wall Street"
says it has value."
- "Put
the Customer at the center of everything."
- "Be
small, or at least act small to respond to changes quickly."
- "Find
or create market niches that you can dominate. "
- "Use
Cross Functional Teams to develop successful products quickly."
- "Being
best is important, but often victory goes to the company that is first,
that didn't delay new product innovations while working on "perfection."
Complete
Story
In
remarks prepared for a "Web TV" broadcast Interview on WCRI
(www.WRCI.com) today, Dave Dickler, Chief Financial Officer of Lighting
Components and Design (LC&D) spoke of the "Characteristics
of Successful Companies in the New Millennium."
He said,
in part:
- "Value
Creation is the responsibility of every business (even the "dot-coms"
of the world). Businesses create value when they provide a product
or service that the customer perceives as uniquely valuable - not
when "Wall Street" says it has value. "
- "Put
The Customer at the Center of Everything - Without customers, there
is no business and no business value. Businesses that involve their
customers in product design and development, in quality issues, in
packaging and distribution - in fact, in every area of their business,
will be among the most successful companies in their industries, regardless
of their company size or how many zeros are included in their revenue
numbers."
- "Be
Small or at Least Act Small to Respond to Change Quickly." -
Entrepreneurs have at least one advantage over their competitors –
the ability to react quickly to changing circumstances. Companies
either have to be small or act small. General Electric is the classical
example of a billion-dollar company that has mastered that art. LC&D
is an example from the other end of the size spectrum – young,
growing and fast responding.
- "Find
or Create Market Niches That You Can Dominate. Smart business executives
create or find niches of customers who have needs that are not being
properly met by their larger competitors in the market - then they
love them to death. "
- "Use
Cross Functional Teams to Develop Successful Products Quickly. Never
let one person or function play the "Lone Ranger." Acting
alone puts you at risk of overlooking important perspectives whether
they are in the areas of design, quality, finance, packaging, distribution,
advertising, communications or public relations. We have all heard
stories of products that was designed wonderfully, but could not be
manufactured… or that could not handle the normal wear and tear
of their intended distribution channels and/or customer applications.
Do not let this happen to you."
- "Being
Best is Important, but Often Victory Goes to the Company that is First,
That Didn't Delay New Product Innovations While Working on "Perfection."
Chrysler is recognized widely as the niche developer of cars targeted
at drivers who enjoy styling and innovation at modest prices. The
company responds rapidly with new product introductions and restyling."
Background
Material on the Speaker, Dave Dickler, CFO of Lighting Components and
Design, Inc.
- In addition
to being active in the South Florida Business Community, Dave Dickler
has served on the Members Benefits Committee of the South Florida
Manufacturer’s Association and on its Education Liaison Committee
working with local schools and Universities.
- Before
joining LC&D in 1993, Dickler held positions as Division President,
Controller, Business Area Manager, etc. with several companies including
IBM Corp. and PMC (a property management company).
About
Lighting Components and Design, Inc.
For further information about LC&D: who we are, what we do, company history, ISO/TS 16949:2002, recent developments, etc.,
click here.
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