Harold Geneen's statement that: "Telephones,hotels,insurance-it's all the same.If you know the numbers inside out,you know the company inside out" is basically correct: the essentials of a business are revealed by its metrics;industry-specific knowledge is not essential to the effective running of a business.

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While understanding a company's financial metrics is crucial, industry-specific knowledge is also essential for effective business management. Different industries have unique challenges, regulations, customer expectations, and operational requirements that financial metrics alone cannot fully capture or address.

Harold Geneen's Statement That: "Telephones,hotels,insurance-It's All the Same