The Myth of Excellence: Why Great Companies Never Try to Be the Best at Everything
by Fred Crawford
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Book Summary Information
Author: Fred CrawfordEdition: Hardcover
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2001-06-26
ISBN: 0609608207
Number of pages: 272
Publisher: Crown Business
Book Reviews of The Myth of Excellence: Why Great Companies Never Try to Be the Best at Everything
Book Review: A "must read" for business owners and CEO's!
Summary: 5 Stars
A powerful message for businesses--whether business-to-business(B2B) or business-to-consumer(B2C)--struggling to maintain profit margins, market share or whatever financial outcome tells them that there is "trouble in River City." This book very effectively explains why it is unwise if not impossible to try to be the best at everything or to promise to be the best at everything. "Everything" in this context consists of five attributes of a company's marketplace offering: price, product, service, access and the experience. We all know that it's impossible to be "all things to all people!" Rather, this book suggests choosing one at which to dominate, a second at which to be above average and to be just average at the other three (i.e., "industry par"). These outcomes are possible to achieve--and will clearly communicate to existing and potential customers what you are promising in the marketplace. The book then offers solid, practical "how to" advice about what to do to get there. As a business strategy and organizational alignment consultant, I hope that businesses DON'T read this book! That would give me some assurance that I'm still going to have plenty of customers out there for my work.
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