Founders · The Founder of Rolex: Hans Wilsdorf
Lenny's Podcast · Jul 255 essential questions to craft a winning strategy | Roger Martin (author, advisor, speaker)
It left real estate ownership to focus on management and cut staff turnover from 80% to 10%, so staff stay about 10 years. It has held its strategy for 35 years, and copying it would mean selling hotels and spending 10 times more on hiring.
Tips
- Make your competitive advantage multifaceted so it is not a one-thing advantage▶ 58:19Tide has been the number one detergent for 77 consecutive years, and Four Seasons has held its strategy for about 35 years.
- Spell out where to play: customer, product form, channel and value chain stage▶ 45:53Four Seasons became the biggest, most profitable luxury hotel chain with a much thinner stack than its competitors.
- Build capabilities and management systems that make your how-to-win theory real▶ 54:22Four Seasons cut staff turnover to about 10%, so people stay around 10 years on average.
