The New York Times recently wrote an article called “In Meetings on the Web, Owners Turn to Owners for Advice and Support”. In this article it is explained that the owner of the small company, Moody Eyes, turned to a group of other small business owners in the community for advice and support on his company’s issues. While this may seem to most people somewhat of a confidential matter; sharing company failures and weaknesses, my analysis shows that it is in consulting with other experts that companies are able to get back on their feet.
In class we learned that it is encouraged that business owners reevaluate and change the actions of the company if something is not working. It is unhealthy for campanies to remain narrow-minded as this closes a lot of doors to various opportunities and potential gains for the company.
As the owner of Moody Eyes listened to the advice given by his many affiliates, he decided to reevaluate his company’s value proposition. Although it is too soon to judge whether the adjustment has improved sales, my analysis shows that this was both a bold and beneficial move for Moody Eyes owner and it is something that many other campanies should look into as well.
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