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The Discipline Of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market, by Michael Treacy Fred Wiersema
Ebook Download The Discipline Of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market, by Michael Treacy Fred Wiersema
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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., VermillionCopyright 1995 Reed Business Information, Inc.
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Product details
Hardcover: 208 pages
Publisher: Basic Books; First Edition edition (January 17, 1995)
Language: English
ISBN-10: 9780201406481
ISBN-13: 978-0201406481
ASIN: 0201406489
Product Dimensions:
6.5 x 1.2 x 9.2 inches
Shipping Weight: 1 pounds (View shipping rates and policies)
Average Customer Review:
4.2 out of 5 stars
70 customer reviews
Amazon Best Sellers Rank:
#54,359 in Books (See Top 100 in Books)
The theory (and research) behind the book is still fundamental (and highly relevant today).The book isn't because most of the companies mentioned and used as examples have either ceased to exist or are in a completely different spot today. That casts a shadow on the great theory behind it. Also the fact that their was some strange 'mass buying' of books at the time of publishing to get it onto the bestseller list is shady and does not instill trust and confidence into the content. It is also true that it is dragged out and lengthy .Still it is one of my favorite business books because it is so relevant- and still widely ignored.I feel it is even ignored by the authors who seemed to have abandoned what they preach and have follow up with other books and give the impression that this theory is now invalid and we need a new one.
The information (specifically the examples) is/are dated. The book could benefit from an updating. With that said, the three concepts presented in the book continue to be relevant. If you can get through the dated examples and just focus on the three key concepts the book is worth quick read. My company adopted the Operational Excellence model and it proved very beneficial. We now are focusing more on the Client Centered concepts in the book.
As the title suggests this book is about what sets leading companies apart from the average ones. According to the authors, there are three dimensions along which companies can focus on: cost, innovation, or service. Leading companies are ones that focus all their efforts and resources to excel in one of these dimensions while being average on the others. Operational excellence (cost leadership) is achieved by making the operations of the company as efficient as can be. These are companies such as WalMart that constantly find ways to reduce their Opex and pass these savings to their customers. Their customers are always looking for the lowest price. Product leadership (innovation) is achieved by continually pushing to the market place new products. These are companies such as Intel which constantly release new products into the marketplace to displace their own products and remain ahead of everyone else. Finally, customer intimacy (service leadership) is achieved by companies that make customer service exceptional. These are companies such as Southwestern airlines which have an extreme focus on their customers and have understood to the nth degree their needs and desires.The most important concept is that leading companies must never loose focus along the chosen dimension. If they do, companies can quickly loose their leadership position and eventually perish. The authors do provide numerous examples of companies that have gone on this journey.A very insightful and highly recommended business/marketing book that brings execution back to its basics. If I had to add/change something in it, it would be to add more details to the journeys that some companies took from being market leaders to followers. The learnings on the business strategy side through such experience would be very valuable.
I read may business books. The Discipline of Market Leaders should be required reading. I have used quotes from this book in presentation. It is great advice from small business to giant corporations.
Purchased this as a requirement for a graduate level course. I had 2 months to read the book before any material related to the book would be due. I ended up finishing the book within a few hours of starting it and got ahead in that class.
Treacy and Wiersema make the case that the value of a product or service to a customer can be categorized in terms of efficiency (eg. low cost, on-time delivery), innovation (eg. latest technology or fashion) and/or customer intimacy (eg. customized solutions). They go on to argue that delivering each kind of value requires a different organization and culture, and hence the most successful companies are those whose business strategy is focused on delivering a particular kind of value to the customers that appreciate it the most, while remaining competitive in other areas. The analysis is accompanied by case studies of AT&T Universal Card, Intel and Airborne Express. The core idea of the book is valuable and 200 pages is plenty to explore it in detail.
A must-read to understand your business model and, if you are a consultant, your clients' business models.
This is an easy read - which gets you thinking about how to focus your organization and culture on a valueCustomer IntimacyOperational excellenceInnovatorsPick one that you can raise the bar higher than your competitors and infiltrate it through your organizationHowever you need to still meet the average on the other valuesCompany examples are dated but still effective
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