The Myth of Excellence - Hardcover

Crawford, Fred; Mathews, Ryan

Hardcover

ISBN 10: 0609608207 ISBN 13: 9780609608203

Publisher: Crown Publications, 2001

Synopsis

Explaining why "universal excellence" can be a mistake in the business world, the authors offer a compelling argument that a corporation should focus its resources and energy on targeted goals in order to dominate in one important area, differentiate in another, and be industry par in the others. 40,000 first printing.

About this title

Review:

"Fred Crawford and Ryan Mathews are exceptional strategic thinkers who have given anyone concerned about customers a practical, innovative, and unique approach to competitive differentiation."--Frederick W. Smith, Chairman, President, and CEO, Federal Express

"At Procter & Gamble, we believe the consumer is boss. The Consumer Relevancy model described in The Myth of Excellence is the best tool I've seen for incorporating consumer wants and needs into your business."--A. G. Lafley, President and CEO, The Procter & Gamble Company

"Tired of business drivel? If you are ready to step beyond platitudinous mission statements and strategies cooked up in distant boardrooms that have no connection to the trenches where business battles are actually being fought, this is the book for you. It is grounded, readable, and honest -- just like your business should be."
-- Paco Underhill, author of Why We Buy: The Science of Shopping

"The Myth of Excellence stands apart from the deluge of business books on the market with its candor and readability. For the brand-marketing executive, the book provides some especially revealing insights into underlying consumer values. Even more refreshing is the authors' approach to imparting business lessons through real research and first-hand case studies."
-- C. Manly Molpus, president and chief executive officer, The Grocery Manufacturers of America

"Everyone in business thinks they really know their customers and what they want. But, in The Myth of Excellence, Fred Crawford and Ryan Mathews have given me new and useful insights into the startling changes taking place before our very eyes. When they tell us, for example, that 'human values are the contemporary currency of commerce, ' they are not just offering another new business platitude but rather a new lens through which to view the consumer -- a lens very few people understand. The Myth of Excellence is both a big idea and a blueprint for action. A true must-read."
-- Michael Burandt, president, North American Consumer Products, Georgia-Pacific Corporation

"Today's customers are leading a revolution against business as usual: They are demanding that companies recognize them as individuals and conduct business on their terms. In The Myth of Excellence, Crawford and Mathews provide proven strategies for meeting the demands of today's empowered customers, who are crying out to be treated with respect, dignity, and courtesy."
-- Thomas M. Siebel, chairman and chief executive officer, Siebel Systems, Inc.

Synopsis:

Some mistakes in business are obvious. One that may not be so apparent is "the mistake of universal excellence." Too many companies try to be world-class when it comes to their product, its price, and the service, experience, and access they offer their customers. This is, surprisingly but certainly, a mistake. Why? First of all, because it's an impossible goal. Second, customers don't expect if or even want it. Imagine the confusion if Tiffany's started offering deep discounts on diamonds or McDonald's went gourmet. In a 5,000-participant survey of consumers, as well as in their consulting work with retailers, service providers, consumer products companies, and high technology and e-commerce ventures, Fred Crawford (an important figure at global consulting giant Cap Gemini Ernst & Young) and Ryan Mathews (a futurist at boutique consulting firm First Matter and the subject of an extensive profile in Red Herring) found the golden strategy: Dominate in one key area, differentiate yourself in a second and be industry par in the others.

Consider a great company like Wal-Mart: it dominates on price, differentiates itself on product, and is at industry par - average when it comes to service, experience, and access. The Myth of Excellence is filled with case studies of companies that get this formula right and is a real eye-opener far the management of any organisation that is trying to clarify its business goals.

About this edition

• Publisher: Crown Publications
• Publication date: 2001
• ISBN 10: 0609608207
• ISBN 13: 9780609608203
• Binding: Hardcover
• Edition number: 1
• Number of pages: 276