The Three-Legged Stool

1 Pages 332 Words

The Three-Legged Stool


The book ‘The Three-Legged Stool’ by Ronald S. Boreham, clearly explained the philosophy for managing a company. The book had offered a different technique to evaluate company success. Author had also clearly proved his point by providing examples of successful companies like Wal-Mart. The book focuses on balancing the three important constituencies of any business –customers, employees and owners. Book also focuses on relationships with suppliers. There are many companies out there that are missing this balance.
I totally agree with each and every detail provided in this book. Relationship is completely made of trust. Customers should always be portrayed as people instead of numbers, knowing more about a customer than a competition is an important key to maintain an existing customer. I also liked the guidelines to evaluate the customer, also always believed in face to face contact with customer. If the employer has nothing to hide then employees will feel important. A little attempt made to get an employee opinion can bring in great deal of success. I always believed in open door policies which doesn’t only mean to visit the supervisor but by telephone, letter, email etc. Many companies today are missing employee survey, which in my view is dropping the communication ball. I also liked the misconceptions and myths book had described. Good long term relationships with owners and shareholders are also extremely important. When such good relations are enjoyed any temporary bad news are correctly viewed in people’s minds. A good balance between shareholders and employees is extremely important. An interesting aspect of the book was relationships with suppliers. Due to heavy competition companies these days are neglecting this relationship. A relationship with Supplier is nothing but a win-win situation. It brings out new ideas and creativity along with value.
In conclusion the book had laid out a g...