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#63 The King of Oil: The Secret Lives of Marc Rich
Founders
Mark Riching Company's Financial Success and Competitive Advantage (Speed)
Mark Riching Company's financial success was astounding. In its first fiscal year, it made over $1 billion with a net profit of $28 million. The following years saw even greater profits, reaching $200 million in 1976. Mark Riching attributed the company's success to market instability, innovation, and a different philosophy than its competitors. Speed and long-term contracts were key to their competitive advantage.
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