Doing Your Best Is Enough

In a global environment where everyone is attempting to do everything at once, there still remains companies that believe in specializing in their core competencies and doing it better than anyone else. During our visits to companies such as Klarna, Sandvik, and Saab Group, each of these Swedish companies continue to operate successfully over time because of their ability to understand what the customer wants and how they can deliver it to them effectively. The newest company of the group mentioned, Klarna, allows their accessible online payment system to flourish by truly providing a solution to the customer’s need. Klarna bases their entire business around making e-commerce safer and simpler which allows them to take a simple request of making online payments easier and transforming into the best product they can put out. In this sense, they are able to channel the mindset of a normal customer and take the steps that would help the common person have an even greater experience.

The next two businesses are able to compete similarly over time by understanding how much of their industry’s success relies on being at the forefront of the technology. In the example of Sandvik, this high tech engineering company has been able to operate for over 150 years due to not only providing their high quality tools to their customers but exhibiting human emotion in their operations. During the meeting with the head of global strategy, he described a story where the company not only fixed a problem of groundwater pollution but also took the social responsibility approach by taking the initiative and stopping the pollution immediately so that the town could be relieved first and dealt with the legal implications afterward. With the example of Saab group, they are able to continue building their defensive and strategical technical machines and devices by focusing on the strong markets while further establishing their share in existing areas. While the company continues to expand globally and locally, they are still able to further improve upon their business through working with energy management and experimenting in the green tech area. This change will help to utilize what currently exists throughout the world and in their words “do things smarter” and the world will benefit greatly.

Over time, companies continue to lose focus on what they set out to achieve and this undoubtedly leads to their failure. The companies that are able to recognize what allowed them to be successful the in the first place will prolong their company life by continuing to do just that.