The Myth of Excellence Why Great Companies Never Try to Be the Best at Everything
Nuria Ranking: #492 in Business
1. The clearly false and destructive theory that a company ought to be great at everything it does.
2. A mistaken goal in which the predictable outcome is that the company ends up world-class at nothing—not well-differentiated and therefore not thought of by consumers at the moment of need.
Based on exhaustive research, The Myth of Excellence provides conclusive evidence of the futility of trying to be excellent in all aspects of a commercial transaction—price, product, access, experience, and service. Instead, the strategy for your products and services should be to dominate on one element, differentiate on a second, and be at industry par (i.e., average) on the rest.
Yes, it is okay to be average as long as your customers know specifically where and how you are superior and world-class.
Author:Fred Crawford and Ryan Mathews