Manuel Castells quote: “If valuation in the financial markets provides the bottom line for the performance of the company, it is labor that rem…”

“The natural effect of unfettered market competition is socialism. For a short time the innovator receives a large profit, as a reward for being first to the market. Then, as competitors adopt the innovation, competition drives these profits down to zero and the price gravitates toward the new, lower cost of production made possible by this innovation (that price including, of course, the cost of the producer’s maintenance and the amortization of her capital outlays). So in a free market, the cost savings in labor required to produce any given commodity would quickly be socialized in the form of reduced labor cost to purchase it.”

Kevin Carson (1963) American academic

"Who Owns the Benefit? The Free Market as Full Communism" https://theanarchistlibrary.org/library/kevin-carson-who-owns-the-benefit-the-free-market-as-full-communism (2012)

“Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.”

John McCain (1936–2018) politician from the United States

In an article in Contingencies magazine, September/October, 2008 http://www.contingencies.org/septoct08/mccain.pdf
2000s, 2008

“Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space.”

W. Chan Kim book Blue Ocean Strategy

Source: Blue Ocean Strategy, 2005, p. 13 (2016 extended edition)

“Great leaders recognize that companies must innovate to remain competitive, and they nurture environments that encourage creative thinking… Innovation is rarely accidental — it takes an organizational commitment that starts at the executive level. The idea is not enough. As Thomas Edison said, innovation is 1% inspiration and 99% perspiration. Too often companies forget the ‘perspiration’ or execution part of the equation.”

Gregory Balestrero (1947) American industrial engineer

Balestrero (2008) quoted in: "America the Innovator The New Rules for Global Market Growth" http://www.forbesspecialsections.com/SectionPDFs/PMIAmericaInnov.pdf By Karen A. Edelman. Forbes : A Special Advertising Section. Accessed 3 Dec 2008.
2000s

“Companies are in the midst of a revolutionary transformation. Industrial age competition is shifting to information age competition. During the industrial age, from 1850 to about 1975, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology mattered, but, ultimately, success accrued to companies that could embed the new technology into physical assets that offered efficient, mass production of standard products.
During the industrial age, financial control systems were developed in companies, such as General Motors, DuPont, Matsushita, and General Electric, to facilitate and monitor efficient allocations of financial and physical capital. A summary financial measure such as return-on-capital employed (ROCE) could both direct a company’s internal capital to its most productive use and monitor the efficiency by which operating divisions used financial and physical capital to create value for shareholders.
The emergence of the information era, however, in the last decades of the twentieth century, made obsolete many of the fundamental assumptions of industrial age competition. No longer could companies gain sustainable competitive advantage by merely deploying new technology into physical assets rapidly, and by excellent management of financial assets and liabilities.”

David P. Norton (1941) American business theorist, business executive and management consultant

Source: The Balanced Scorecard, 1996, p. 2-3

“Companies are in the midst of a revolutionary transformation. Industrial age competition is shifting to information age competition. During the industrial age, from 1850 to about 1975, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology mattered, but, ultimately, success accrued to companies that could embed the new technology into physical assets that offered efficient, mass production of standard products.
During the industrial age, financial control systems were developed in companies, such as General Motors, DuPont, Matsushita, and General Electric, to facilitate and monitor efficient allocations of financial and physical capital. A summary financial measure such as return-on-capital employed (ROCE) could both direct a company’s internal capital to its most productive use and monitor the efficiency by which operating divisions used financial and physical capital to create value for shareholders.
The emergence of the information era, however, in the last decades of the twentieth century, made obsolete many of the fundamental assumptions of industrial age competition. No longer could companies gain sustainable competitive advantage by merely deploying new technology into physical assets rapidly, and by excellent management of financial assets and liabilities.”

Robert S. Kaplan (1940) American accounting academic

Source: The Balanced Scorecard, 1996, p. 2-3

“The triplet of specifications - the product-market scope, the growth vector and the competitive advantage - describes the firm's product-market path in the external environment.”

Igor Ansoff (1918–2001) American mathematician

Source: Corporate Strategy, 1965, p. 110

“Industrial age companies created sharp distinctions between two groups of employees. The intellectual elite—managers and engineers—used their analytical skills to design products and processes, select and manage customers, and supervise day-to-day operations. The second group was composed of the people who actually produced the products and delivered the services. This direct labor work force was a principal factor of production for industrial age companies, but used only their physical capabilities, not their minds. They performed tasks and processes under direct supervision of white-collar engineers and managers. At the end of the twentieth century, automation and productivity have reduced the percentage of people in the organization who perform traditional work functions, while competitive demands have increased the number of people performing analytic functions: engineering, marketing, management, and administration. Even individuals still involved in direct production and service delivery are valued for their suggestions on how to improve quality, reduce costs, and decrease cycle times…
Now all employees must contribute value by what they know and by the information they can provide. Investing in, managing, and exploiting the knowledge of every employee have become critical to the success of information age companies”

David P. Norton (1941) American business theorist, business executive and management consultant

Source: The Balanced Scorecard, 1996, p. 5-6

“Industrial age companies created sharp distinctions between two groups of employees. The intellectual elite—managers and engineers—used their analytical skills to design products and processes, select and manage customers, and supervise day-to-day operations. The second group was composed of the people who actually produced the products and delivered the services. This direct labor work force was a principal factor of production for industrial age companies, but used only their physical capabilities, not their minds. They performed tasks and processes under direct supervision of white-collar engineers and managers. At the end of the twentieth century, automation and productivity have reduced the percentage of people in the organization who perform traditional work functions, while competitive demands have increased the number of people performing analytic functions: engineering, marketing, management, and administration. Even individuals still involved in direct production and service delivery are valued for their suggestions on how to improve quality, reduce costs, and decrease cycle times…
Now all employees must contribute value by what they know and by the information they can provide. Investing in, managing, and exploiting the knowledge of every employee have become critical to the success of information age companies”

Robert S. Kaplan (1940) American accounting academic

Source: The Balanced Scorecard, 1996, p. 5-6

“Apple's a company whose valuation is based on the fact that they've got recurring, blockbuster products, that the, the lack of those, of late, is just killin' 'em.”

Rob Enderle (1954) American financial analyst

Rob Enderle on Apple: Not Looking Good http://wsj.com/podcasts/rob-enderle-on-apple-not-looking-good/01630736-7C5F-4BDF-A98B-B5E64E164196.html in The Wall Street Journal's "What's News" Podcast (26 October 2016)

“If valuation in the financial markets provides the bottom line for the performance of the company, it is labor that remains the source of productivity, innovation, and competitiveness.”

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