This past week two impressive business contributions came to light for business education. One on a one grand scale….another much smaller but equally important.
Stephen Ross has contributed a total of $378 M to the University of Michigan, with a substantial amount to the Business School appropriately named the Ross School of Business. Mr Ross graduated in 1962 from the business school as I did….perhaps we were in the same accounting classes!
On a much smaller scale, yet equally important was the $1.5 M contribution to the MCC Technology Center in downtown Muskegon. Not only did this contribution benefit the center….it also strengthened MCC by having the center as part of the revitalization of Muskegon and the redevelopment of two very nice buildings.
After several years, I am finally organizing Tom Barton’s (father-in-law) memorabilia.
One of the more interesting finds is the flight plan for the Apollo 11 lunar mission.
“Apollo 11 was the spaceflight that landed the first two humans on the Moon. Mission commander Neil Armstrong and pilot Buzz Aldrin, landed the lunar module Eagle on July 20, 1969 (48 years ago).
The flight plan is a detailed minute by minute plan of the mission, while a NASA document, much of the effort was done by TRW as the primary contractor for flight planning.
My “smart phone” is somewhat out of date….it’s a palmOne Tungsten E2….a forerunner to today’s smart phones. It has several functions….calculator….calendar….contacts….etc.
For its time it was a sophisticated device….Personal Digital Assistant. Of course the Tungsten E2 is dated, surpassed by smart phones. Although I only use the Tungsten for organizing my contacts….it serves it purpose well.
50+ Years Old
Is quality worth the price? Very much so in the case of these shoes. They were purchased in 1966 in Redlands, CA. The brand….Bostonian.
“Bostonian was founded in 1899 by Charles Jones in Whitman, Massachusetts and has the distinction of being the first premium men’s shoe company. The company was bought by Clarks Companies, North America in 1979.”
Only worn on special occasions….everything is original from the laces to the soles and heels….and they have been well maintained.
Sometimes we want quality….sometimes quality is not important. As a business we wanted to sell quality products that were affordable. For the most part we did that. After all these years….our name is our legacy….as is the Bostonian shoes.
There are few businesses that offer a 100% guarantee….LL Bean being the most well-known for their guarantee….If you are ever not satisfied with the product, simply return it for a full refund.
The FCP Euro auto parts guarantee:
“Every product you buy from FCP Euro is guaranteed for life for your ownership of the vehicle. This lifetime replacement guarantee covers everything we sell, including wear-and-tear items like brake pads, gaskets, rotors, filters, and wiper blades.
This covers every single part we sell for as long as you own your car. Return anything purchased from us at any time. No fine print, no restrictions, no time limit. Buy it from us once, use it up, wear it out, then send it back for a free replacement. “
Lifetime guarantees work and are an effective marketing strategy when the business:
- Makes/sells quality products
- Honors the guarantee with no restrictions
- Sustains a long-term economic strategy
It’s always interesting to find relatively small companies that are specialists in what they manufacture.
From jsonline: http://www.jsonline.com/story/money/real-estate/commercial/2017/08/31/milwaukee-manufacturer-proposes-move-glendale-along-its-smaller-texas-operation/622480001/
Grover intends to expand as it consolidates its operations in one location. While less than 100 employees….it is still a nice niche business that makes piston rings and seals….industrial parts that are necessary for many applications.
There are many leadership traits that make great leaders….helping others succeed is certainly one of the best.
From Wharton Business School:
Leaders need a tool kit of different skills….however at the end of the day, their success depends on the success of those that they lead. Of course different situations require different skills.
In our business, we wanted those in the business to not just work for us but also to become better. We had part-time fellows….that we always encouraged and helped to achieve a higher education goal….after all unloading trucks and trailers was only the first step in their careers.