Learning From History How To Avoid Common Mistakes

There have been instances when businesses made pronounced mistakes that often costed them dearly. Look around you and you will find countless examples where small mistakes let companies tumble over their faces never to be returned to the industry again. A famous company 3dfx can be taken as a test case here. The company was once considered the behemoth of the computer graphics segment. As the biggest supplier of discrete computer and workstation graphics cards all over the world, 3dfx was going great guns and had a comfortable lead over competitors like Ati (now AMD) and Nvidia. Others were too far behind in the competition and were not even considered a threat. This is where the company faltered. Back in the 90s, the concept of safety audit like Iosh managing safely in Dubai was perhaps not that common, or not at least for 3dfx anyway. There never bothered to invest a great deal in looking, let alone hiring reputable safety auditors when they should have. In a matter of years, five of them to be exact, the company was sitting on the verge of bankruptcy. A lot of things went wrong, and most of these could’ve been easily avoided.

Firstly, the company had a habit of lavish spending on employees, conferences, yearly dinners and parties and what not. This continued even when the company had filed for bankruptcy, oh well, last supper perhaps? The point being – why a company of such reputation and resources crumbled so fast? The answer lies in the fact that there was no failsafe strategy and no working safety mechanism. There was no safe point in sight that the company could’ve brought itself when sales were diminishing and revenues falling. Here is more on what if the company had a lead safety auditor in place, how it would’ve made the survive:

Know When To Say No

The first and foremost thing you should be able to do is to know when to say no. Your safety auditor will reinforce the need to do this time and again and you will learn its importance over time. It is a matter of understanding that your business may not always be prospering. Sometimes, sales were lower than previous years. Lower sales mean less revenue which means less spending and saving revenue if and when possible. Once sales are restored to accepted levels, the expenses can be done again but only those that are absolutely necessary.

Professionals having completed Irca lead auditor course will not let your business boat sale on stormy waters, and you will realize this several times each year.

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