Understanding your strength and weakness (IM 450)

Understanding what you are best at and bad at is very important for any organization (or an individual) to become successful. This gives us the clear message on what to focus on and what to improve on. Great companies always understand their strength and weakness so that they can focus on their growth and success. For example: Circuit city knew that they could be best at their 4-S model (Service, Selection, Savings, and Satisfaction), Well Fargo knew that they could become best at running bank like a business with focus on western United States, Walgreens knew that they could become the best at convenient drug-store, Philip Morris understood that they could become the best in the world at building brand loyalty in cigarettes. The key is to understand what you can be best at and equally what you cannot be best at...