In the opening story to this chapter, Nils Vinge credited H&M's long-term success to the principle of

Question:

In the opening story to this chapter, Nils Vinge credited H&M's long-term success to "the principle of caution."
Required:
a. Describe what he meant by "the principle of caution" and how this philosophy impacted business decisions.
b. According to Mr. Vinge, what role does accounting play in H&M's success?