By Pat Hinds,
I just finished the book, “Discipline of Market Leaders” by Michael Treacy and Fred Wiersema. It was a very good book to read as the President of a small company that is trying to establish itself as a market leader.
Listed below is a summary of the book:
Companies must choose from among one of these three fundamental strategies if they are to build a workable organization.
OPERATIONAL EXCELLENCE (to deliver quality, price and ease of purchase and use)
Processes for end-to-end product supply and basic services that are optimized and streamlined to minimize cost and provide hassle-free service.
PRODUCT LEADERSHIP (creating the best products or services)
A focus on the core processes of invention, product development, and market exploitation.
CUSTOMER INTIMACY (delivering what specific customers want)
An obsession with the core processes of solution development (helping the customer understand exactly what is needed), results management (ensuring the solution gets implemented properly), and relationship management.
POIM has chosen the path of “Customer Intimacy” with its focus on helping companies making the transition from sales 1.0 to sales 2.0. One excerpt from the book regarding a characteristic of a customer-intimate company is the “willingness to take responsibility for achieving results”. Based on the quote from the book you can see the ability of achieving market leadership is not easy, but the book emphasizes the importance of committing to one of these fundamental strategies.
I recommend this book to any company that is trying to determine what type of company they are and what it takes to become this type of company.