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Value discipline for businesses Main Point The main point of this chapter is the importance for companies to focus and excel in one of the three "value disciplines"
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Submitted by latinadoll01 on December 2, 2007
Category: Business
Words: 1329 | Pages: 6
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Main Point
The main point of this chapter is the importance for companies to focus and excel in one of the three "value disciplines" in order to become the market leader in their industry:
Best cost (operational excellence)- companies must provide lowest price for product; in addition, dependability, and convenience. Key strength is strong execution, manufacturing, delivery, and service systems are kept running smoothly to ensure convenience and lowest prices.
Best product (product leadership)- companies provide the highest-performing products in their industry. Continuously innovating, leading their industry in establishing and redefining the state of the art. At the same time, offer competitive pricing levels. Key strengths are invention, product development, and market exploitation.
Best solution (customer intimacy)- companies develop close relationships with their customers and offer total solutions to their problems. Key strengths are personalized service and advice. They won't have the best or highest- performing products, but these companies ensure the customers get exactly everything they want and need.
Treacy and Wiersema support their lesson by thoroughly explaining the new rules of competition to maintain market leadership: provide the best offering by committing to one customer value; design the entire operations of your company to fulfill that commitment; maintain appropriate standards in the other values; and, continually improve year after year. The importance of choosing a value discipline is to narrow down the company's focus to become the "best" in one particular discipline (versus all areas); nevertheless, maintain a level of success in the other areas (e.g. customer service; price; product dependability; etc). Companies cannot maintain market leadership if they are constantly trying to be the finest (best sounds redundant) in all areas. Based on this...
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