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3 Lessons From Franchises
Corporations can learn a thing or two from the track records of successful franchises:
1. Franchises have grown by hewing to a single idea and a singular focus. Too many corporations have tried to be everything to be everybody.
2. Franchises are forever bringing in new people into the fold. As far-flung entreprises employing a wide variety of people, franchises constantly replenish their talent pool. In diversity and mix lie power.
3. Ideas of individual franchisees are adopted by the whole organization. In hierarchical corporations, too many good ideas remain the sole province of the individual who thought them up. Corporatations could benefit from “transplantation of concept.”
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