Top 3 most successful business decisions and ideas

Millions of businesses are established every year. Only a small number of those are successful, and a microscopic amount of that portion go on to have international success. The reason for international success often comes down to one ingenious idea or person. Here are some of the best business decisions made in recent years.

Bringing back Steve Jobs (Apple)

Steve Jobs founded Apple with Steve Wozniak in 1976. They began selling Wozniak’s Apple I personal computer, before achieving massive commercial success with the Apple II, which was considered a ground-breaking development in personal computer technology. However, by the mid-1980s, Apple was struggling, and Jobs was forced out of the company by then-CEO John Sculley.

Later that year, Jobs founded NeXT, a computer platform company that specialised in higher education computer use. Over a decade later, Apple acquired NeXT, and Jobs again became CEO of the company in a matter of months. He revived Apple, which was on the verge of financial ruin and began developing a range of revolutionary products that have changed the world.

Revolutionary training clinics (General Electric)

Jack Welch was the Chairman and CEO of General Electric (GE) from 1981 to 2001. His approach to streamlining business efficiency and training has been applauded and criticised. However, its success for the company cannot be disputed. Every year, Welch fired the bottom 10% of managers, regardless of their performance, while rewarding the top 20% with bonuses. He removed the hierarchical management structure and brought in casual informality, mixed with competitiveness and drive. The result? GE grew from $12 billion in 1981 to over $410 billion in 2001.

Saturday morning meetings (Wal-Mart)

Sam Walton founded Wal-Mart in 1962. Wal-Mart has since grown to become the largest private company in the world, based on revenue, which was $523 billion US in 2020. Walton innovated conventional business practices in a variety of ways; however, one of his most crucial innovations was holding Saturday morning meetings with all employees. This led to a positive culture of inclusivity, where all information was shared.