Lessons from the Somali Pirates

You may have heard about the Somali pirates who hijacked a huge oil tanker and are holding it to ransom. (The story is here on the BBC website).

Anyway I saw this great article about why the Somali pirates are actually great models for business. The author states 14 lessons your business can learn from the illicit but profitable Somali pirate trade. These include such great entries as 'Dominant Market Share', "Low Overheads", and - my favourite - "A repeatable business process"

You may not agree with what the pirates are doing (and in this day and age, the fact that there are still pirates operating is a worry) but a group that - so far this year - has hijacked 90 boats, must be doing something right.

Of course the question is "Are they good, or are they lucky?"

Are there any missing from the list?

(Photo courtesy of Geatan Lee. Released under a creative commons attribution license)

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