MBA788 Four Things You Can Learn From Samsung’s Note 7 Disaster

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 26 October 2016

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is there a better skill in business than overcoming and learning from mistakes? For an extreme recent example, we need to look no further than Samsung and their flaming phone debacle. When Galaxy Note 7's started bursting into flame, many assumed the company was done for. However, they've addressed the problem and remain profitable. Today we discuss what small businesses can learn from Samsung's approach to this crisis. Get some perspective- click play!

Transcript

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0:00.0	Heyo! Welcome to the $100 B. Show the business podcast that doesn't waste your time.
0:15.0	Just giving you the best business lessons you need to get going every single day
0:20.2	with our daily 10 minute business lessons for the real world.
0:24.0	I'm your host, your coach, your teacher, Omar is at home.
0:27.0	I'm also the co-founder of the $100 MBA, a complete business training, and community online.
0:33.0	Don't forget, we have five free guides for you to download over at 100MBA.
0:38.0	N.net slash guides.
0:39.0	Learn exactly what you need to start your business website, create a one-page business plan, or how to create
0:45.1	an online course. All free for you to download, check it out at 100MBA.net.
0:52.0	In today's lesson you will learn four things you can learn
0:54.8	from Samsung's note seven disaster as you must have heard recently in the news
0:59.7	Samsung's Galaxy note seven has been a bit of a disaster.
1:04.4	They've been literally combusting into flames.
1:07.3	It's gotten so bad that Samsung had to recall every single Galaxy Note 7. That means they stopped selling the existing ones
1:16.0	as well as ask customers to turn in their Galaxy 7s for a recall. Galaxy Note 7s
1:21.4	have been banned on flights in the U.S. because of this danger.
1:25.3	I mean this is a business's nightmare.
1:28.3	Their product is literally blowing up in a bad way.
1:31.8	I mean Samsung is a huge company and they're dealing with this
1:34.1	nightmare right now. So in today's lesson I'm going to share with you four particular
1:38.0	lessons you could take away. And just to kick us off, even though Samsung's phones are bursting into flames, they're still
1:44.7	in business.
	...

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