small and insignificant mistakes can lead to big problems
Dallas, TX (PRWEB) October 25, 2016
National Debt Relief recently shared in an article published October 15, 2016 some financial lessons consumers can learn from what happened to Samsung pulling out the Note 7 smartphone. The article titled “Financial Lessons From Samsung’s Galaxy Note 7 Disaster” takes a look at the recent fiasco the company went through and how people can take away lessons from it.
The article shares that there are financial lessons to be learned from almost anywhere.There are lessons from tv programs and even various personal situations that people go through on a daily basis. The idea is be perceptive enough to process the bits of information they provide. This is what consumers can do with the Samsung situation.
One of the financial lessons people can take away from the pull out was to not try and keep up with the people around them. Samsung was trying to catch up with a competitor to the point of jumping from Note 5 straight to Note 7. This was interpreted as a catch-up tactic which backfired with the phone’s battery catching fire. Consumers should not feel compelled that they need to keep up with the Joneses because oftentimes, it only puts their finances in peril.
The article also shares how seemingly small and insignificant mistakes can lead to big problems. The small problem of a battery heating up ended up costing the company with estimates as high as $18 billion. Consumers must be on top of their finances and take note of small mistakes they are making and be sure to correct them as they happen.
One other financial lesson Samsung teaches consumers is the fact that no matter how bad a situation is, there will always be ways to come back and recover. The amount will not bankrupt a global company but it will surely take a lot of work to get people to trust them again. The same with consumers where regardless how bad the situation is, there will always be a way to get things in order.
To read the full article, click https://www.nationaldebtrelief.com/financial-lessons-samsungs-galaxy-note-7-disaster/