The Up Side of Down, Failing Well, Key to Success

Book Discussion Side | Video | C-SPAN.org: "Megan McArdle talked about her book, The Up Side of Down: Why Failing Well Is the Key to Success, in which she argues that the U.S. is unique in its willingness to let its citizens and businesses fail and says that this is what has made the country successful. During this event, hosted by the American Enterprise Institute in Washington, DC, Ms. McArdle spoke with George Mason University professor Tyler Cowen." (go to link above for video)

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Perceived High Quality A Key to Success

The secrets of shopping | The University of Chicago Booth School of Business: "For example, Coke and RC Cola are similar products, but Coke is more successful because people prefer it. Why they prefer it, whether they’re influenced by advertising or other factors, is a secondary matter for the researchers. All they consider, besides price, is the perceived quality . . . The early results are upending a long-held belief that the most successful companies are the ones that focus on reining in expenses or establishing economies of scale. “The key determinant of firm success is quality, much more than cost,” Weinstein says. “The most successful firms produce goods that consumers think are high quality. It’s not just about lower prices.”" (read more at link above)

Think Apple.

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