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#363 Li Lu and Charlie Munger and Warren Buffett
Founders
Delight Customers, Cut Costs, Sustain Success
Customer delight, cost management, and continual product and service improvement are essential for business vitality. Without these priorities, companies risk becoming bloated and complacent, leading to gradual decline. Success can breed sloppiness, which undermines long-term competitiveness. Maintaining a rigorous focus on costs is crucial, as great managers must excel in this area to prevent degradation of business performance.
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