Value and Strategy: Competing Successfully in the Nineties

Value and Strategy: Competing Successfully in the Nineties

Value and Strategy: Competing Successfully in the Nineties

Value and Strategy: Competing Successfully in the Nineties

Synopsis

Shenkman offers a management strategy consistent with contemporary market demands and opportunities. He establishes the need for managers to develop a deep and on-going awareness of customers' perceptions, convictions, desires, and actions and to build a relationship based thereon. Business needs to respond to customers with products and services not only characterized by soundness but also by innovation and inventiveness. This book offers the necessary new tools of awareness.

Excerpt

During the last decade, one American industry after another has been rocked by international competition. in the cases of the automobile or capital equipment industries, this took the form of diminished market share; in the case of the consumer electronics industry, extinction looms. But times of crisis also present opportunities. While this sad state of affairs is unfolding, creative business decision makers and thinkers are forging a new outlook on the ways products are made and services delivered. New ideas about quality, organizational effectiveness, compensation, and recognition are being articulated and tried, with some notable success.

These ideas cluster around a central theme: a business's main job is to take care of the customer. Terms such as total quality management, concurrent engineering, and quality circles name some of these ideas. As we shall see, these are all pieces of a larger endeavor--to develop an approach to strategy that infuses a customer-focused commitment throughout the business's operations. the contribution of this volume is to apply a degree in philosophy and twenty years of experience in business, ten of them consulting with businesses in the United States, Europe, and Japan, to examine a wide range of business assumptions, practices, and actions through this single, customer-focused lens.

This study asks, What happens to business strategy when all of its actions are focused on customer satisfaction? the answers are dramatically different from those prescribed by some of the better known writers of what I call "classical strategies. . . ."

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