A major part of Bethlehem Steel's success was the development of the H-beam, which would revolutionize building construction and make possible the age of the skyscraper. Schwab's vision required him to take a major risk in raising capital to build a large new plant to make a product for which market demand was yet unproven. "I've thought the whole thing over," Schwab told his secretary, "and if we are going bust, we will go bust big."
In 1908, Bethlehem Steel began producing the beam, which was fantastically successful, helping to make Bethlehem Steel the second-largest steel company in the world.
In 1924, while at the Carnegie Steel Company, Schwab penned his Ten Commandments of Success.
Charles M. Schwab's Ten Commandments of Success
1. Work Hard: Hard work is the best investment a man can make.
2. Study Hard: Knowledge enables a man to work more intelligently and effectively.
3. Have Initiative: Ruts often deepen into graves.
4. Love Your Work: Then you will find pleasure in mastering it.
5. Be Exact: Slipshod methods bring slipshod results.
6. Have The Spirit Of Conquest: Thus you can successfully battle and overcome difficulties.
7. Cultivate Personality: Personality is to a man what perfume is to the flower.
8. Help And Share With Others: The real test of business greatness lies in giving opportunity to others.
9. Be Democratic: Unless you feel right toward your fellow men, you can never be a successful leader of men.
10. In All Things Do Your Best: The man who has done his best had done everything. The man who has done less than his best has done nothing.
5 comments:
Also, adopt an ethical approach to life...
Ethics is the responsibility of every individual. Ethics is conscience-based, knowledge-based and attitude-based, and not suited to those who consistently demonstrate selfishness. Yes, there are “grey” areas, depending on different perspectives, but there are also areas of "black" and "white".
Instead of implementing codes of ethics for others to observe, leaders should lead by example, while respecting and caring for all stakeholders: employees, customers, suppliers, the community, etc.
Making false promises and unreasonable demands on others, preventing participative management, talking about the "green" approach as a public relations exercise, rather than adopting a "green" approach, is unacceptable.
For free abridged books on leadership, ethics, etc. write to crespin79@primus.ca.
Maxwell Pinto, Business Consultant and Author
http://www.strategicbookpublishing.com/Management-TidbitsForTheNewMillenium.html
http://www.youtube.com/watch?v=p34hB50lv-8
I note that he says, "giving opportunity to others." This beats the ubiquitous "giving back," which implies that something was unfairly taken. "Giving opportunity" builds character and it builds mutual wealth; "Giving back" has the potential to build dependence and reinforce the notion that corporations don't earn the money they make. [BTW, Barry, LOVE your tweets, and wish you'd blog more! Anyone who understands Rand AND Jaques should be talking!] --Bill Casey
Thanks Bill. Yes, I need to do more blogging. I wish I had more time to spend on business ethics issues. If you want to read more, I've written many business-related but philosophically oriented essays that you can find here: http://www.tspg-consulting.com/essays.htm.
There's an article that outlines my methodology for using RO principles for restructuring, "Requisite Structure: A Guide to Aligning Strategy and Roles.
I'm glad you think there is a market for Rand + Jaques ideas. You must be an extreme outlier like me (lol)! Most business leaders haven't read either of them, and have no idea how to apply them to their business and personal life. Nonetheless, both form the bedrock for key guiding ideas I traffic in to the benefit of my clients, whether they know it or not).
You may also enjoy a longer article on how the TQM movement attacked the Marketing Concept: "You Don't Have Any Internal Customers."
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