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These paths are clearly and effectively outlined by Fred Wiersema and Michael Treacy in The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market : 1) Operational Excellence – Lowest Cost. 3) CustomerIntimacy – Best Overall Solution.
Back in my own days as an executive, I was hugely influenced by a book called The Discipline of Market Leaders. The authors argued that companies had to pick between one of three paths to value creation and success in the market – operational excellence, customerintimacy or product leadership.
As organizations increase in size, the leadership team moves from generalists to specialists who are responsible for a particular business area. CustomerIntimacy. In smaller organizations, a much greater percentage of employees work with customers directly. Timely Decision-Making. Attracting Team Members.
As organizations increase in size, the leadership team moves from generalists to specialists who are responsible for a particular business area. CustomerIntimacy. In smaller organizations, a much greater percentage of employees work with customers directly. Timely Decision-Making. Attracting Team Members.
In a recently released study from IBM , based on face-to-face conversations with more than 1,500 chief executive officers worldwide, “creativity” has been identified as the single most important leadership competency for enterprises seeking a path through this complexity.
At its 100-year milestone, IBM shows us what it takes to outlast depression, war, and intense competition in order to remain a market leader in the midst of ongoing technological innovation. By 1955, IBM's revenues were $564 million and it led the world market in making computers. Here are several lessons worth sharing.
They can actually make it easier to tailor customer experiences at low cost. As Chief Marketing Officer Paul Matsen told me, "We use enterprise-wide standards. There is one marketing communications team, and we work across all our institutes, such as heart and vascular, or cancer.
How well do you know your customers? This seems to be a key question on the minds of not just marketers, but company strategists these days. This intensive customer focus has increased as technology-enabled transparency and online social media accelerate an inexorable flow of market power downstream from suppliers to customers.
But who is likely to assume leadership in creating and capturing economic value in Type 3 products: Digital natives or industry incumbents? We don’t expect Amazon or Microsoft or IBM to design, make, and market agricultural tractors, aircraft engines, or MR scanners. Customerintimacy. Ford or Tesla?
However, what these executives don’t fully appreciate is that the customer affinity spectrum extends far beyond promotion. Through co-creation, companies can access a deep well of customer capabilities, knowledge and assets. Evaluate your leadership team’s openness to co-creation as well. Your customers are waiting.
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