Entity Dossier
Company
Viking
Strategic Concepts & Mechanics
Cornerstone MoveAbandon the Model That Doesn't Work Mid-FlightCornerstone MoveSpot the Supply Gap Then Build the CategoryIdentity & CultureThree-Year Crucible for Company CharacterSignature MoveTest in the Weakest Market FirstStrategic PatternBig Market Before Big CompanySignature Move120% Speed Then 95% QualityCompetitive AdvantageInternet DNA in Brick-and-Mortar HotelsCornerstone MoveSerial Founding Then Hand Off the BatonSignature MoveMeditation Before Major DecisionsSignature MoveFounder Majority Equity as Stability AnchorStrategic PatternCrises as Competitive Elimination EventsRisk DoctrineSong Dynasty Fragility WarningCapital StrategyBubble Financing as Survival CapitalOperating PrincipleMoon and Sixpence Equally ImportantSignature MoveRooftop-to-Street Site InspectionOperating PrincipleRevPAR Plus Ten, Costs Minus TenRisk DoctrineNo Cross-Pledging of Crown JewelsSignature MoveDeals Hated, Strategy LovedSignature MoveNever Run Out of Cheque-Writing TimeRelationship LeverageShare the Pie to Keep the TableStrategic PatternEcho Bay Model Then Surpass ItSignature MoveKlosters Mountain as Strategic War RoomIdentity & CultureRefugee Hunger as Permanent EngineCornerstone MoveWritten Memo Then Unanimous Sign-OffIdentity & CultureReturn to Canada Only With SuccessCornerstone MoveBuy Producing Assets at Cycle Bottom, Never ExploreSignature MoveTrust Mining Operators Then Stay AwayOperating PrincipleFocus as Compensation for Ordinary TalentCornerstone MoveBorrow Against the Asset to Buy the AssetDecision FrameworkGeopolitical Disruption as Buy SignalStrategic PatternScarcity Premium as Entry SignalSignature MoveControl Without Majority Ownership
Primary Evidence
"Lao-Tzu, Tao Te Ching, trans. John Minford, (New York: Viking, 2018), 87."
Source:The Founder's Notes
"When I reviewed all of this a year and a half later with Birchall and Gilmour and Khashoggi, I said, “You know, we never lost so much money quicker. And we're smart guys, where did we go wrong?” I went through every single thing I’d done in Viking and actually had a full review. We found nothing wrong with our decision-making process. We'd do absolutely the whole thing over again. And yet we totally screwed up in eighteen months. We lost a big bundle of money. We had our tax losses and some other leftovers, and eventually we got part of our money back."
Source:The Golden Phoenix : A Biography of Peter Munk