The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market Paperback – Jan 10 1997
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From Library Journal
Consultants and business strategists Treacy and Wiersema provide the conceptual model for companies to attain and sustain market leadership. Their plan is simple: put unmatched value (best product, best total solution, or best total cost) in the marketplace while meeting threshold standards in other dimensions of value. Making the improvement of the chosen value to customers the focus of the entire company will result in corresponding shareholder value. The authors follow up their theory with practical guidelines for constructing an appropriate operational model, and offer many examples using well-known companies. A landmark work in market strategy that goes beyond TQM principles, this volume is essential for entrepreneurs and for public, academic, and corporate libraries.
Nancy Myers, Univ. of South Dakota Lib., Vermillion
Copyright 1995 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
About the Author
Fred Wiersema is the founder of Ibex Partners, specializing in strategic and management team alignment. He is affiliated with CSC Index, the international consulting firm, where he was formerly senior vice president.
Top Customer Reviews
The message of The Discipline Of Market Leaders is that no company can succeed today by trying to be all things to all people. It must instead find the unique value that it alone can deliver to a chosen market. Why and how this is done are the two key questions the book addresses,
Three concepts are introduced that every business finds essential:
1. the value proposition - implicit promise to deliver a particular combination of values - price, quality, performance, etc.
2. value-driven operating model - combination of operating processes, manage-ment systems, business structure, and culture that allows a company to deliver on its value proposition.
3. value disciplines - three desirable ways in which a company combines operating models and value propositions to be the best in their markets. THIS is the key take away from this book.
Three distinct value disciplines:
1. operational excellence - provide middle-of-the-market products at the best price with the least inconvenience - value proposition is low price and hassle-free service.
2. product leadership - offering products that push performance boundaries - value proposition is offering the best product, period.
3.Read more ›
Such a simple idea and so hard to live up to. Treacy argues that companies compete on three dimensions: Product Innovation, Low Cost Provision (aka Operational Excellence) or Customer Intimacy. He further argues that the way to make money is by being best in one (and only one) dimension. Trying to be "world-class" in more than one dimension diffuses your efforts, sets up contradictions in your organization and confuses your customers. Pick how you want to compete and be disciplined about sticking to it.
This book offers a classic model for thinking about business and how you serve your customers More than just high-level strategy setting, this book gives you a lens through which to prioritize projects and make decisions at every level of management. It brings clarity to confused business cultures (or at least gives leaders a way to talk about why they have different visions of the future of the company).
Incidentally, there has been a fair amount of quantitative research since this book was first published confirming the correlation between strategic alignment and financial performance. As long as you've maintained a minimum (parity) on the other dimensions, companies that stick to one agenda really do perform better financially.
I was taught the basic model years ago and have used it more times than I can count since. This book is on my very short list of "must-read". The examples are getting a little out-of-date now, but the core lesson is timeless.
I hope the authors will go on to publish a sequel that looks at how an organization that is superb in one of these areas learns how to become superb at a second or third of the three areas. That clearly will be the future best practice that outstanding enterprises will have to shoot for.
I am not sure that some organizations are not already good at more than one area of focus: For example, a great investment bank (like say, Goldman Sachs) will have more innovative products than most of its competition in certain areas and will also offer great relationships.
The book does not say very much specifically about how to achieve an outstanding result in any one of the proposed three areas of focus. You'll have to read other books for help there. Direct from Dell is probably good for the price/cost model for most New Economy businesses and Old Economy businesses that are subject to the New Economy. For the rest, Lean Thinking will be helpful. On the subject of relationships, the Harvey Mackey books are good, such as Dig Your Well Before You're Thirsty. On innovation, everyone should read The Innovator's Dilemma. Only the Paranoid Survive is also helpful for innovators.
Pick your direction today, and move forward at warp speed!
Most recent customer reviews
The discipline of market leaders is one of my favorite business books because it is applicable to the real world. Identify your strengths, educate your team and move! Great read!Published on June 29 2013 by Brrodgers
In Business studies, we were taught that to succeed with our business we should be able to provide best product/service, best prices and superb customer service. Read morePublished on June 7 2003 by Noorana T.
Notwithstanding the allegations about "book-buying" to get this book up the business charts (which I have no idea about whether they are true or not), the real... Read morePublished on March 1 2002
This is a book with substance and professional insite. I read it as a text book of sorts and as a reference for inspiration in business communications and dialogue. Read morePublished on Jan. 2 2002 by Susie Schklar
When I started in retail, I was a believer in being all things to all people. Fortunately I found this book and learned there is a better way to be a success in business. Read morePublished on Dec 1 2000 by Jeff Jones
It is intrinsic to people to produce long wish lists. This book proves that reducing these lists and focusing one a few is a key discipline. You get more with less. Read morePublished on Oct. 18 2000 by karel ameye
There are three disciplines discussed in this book: operational excellence, product leadership, and customer intimacy. The most important is customer intimacy. Read morePublished on April 8 2000 by Robert David STEELE Vivas
Winning firms focus on one of three customer value disciplines: product leadership, customer intimacy, or operational excellence. Read morePublished on Feb. 21 2000 by J. G. Heiser
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