HARVARD BUSINESS REVIEW MARCH 2014 PDF
Harvard Business Review, March magazine issue. Harvard Business Review. Save; Share. Save; Share. MARCH ** **. W º. º. pixia-club.info O 80 Marketing. An Anthropologist. Walks into a Bar. the top. pixia-club.info thrive. March Harvard Business Review 5. pixia-club.info March The Rules of Trast. Harvard. Business. Review. An Anthropologist. Walks into a Bar Make Your Best. Customers Even Better. -. Work.
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It includes a profile of Jeff Bezos and an interview with him at. Amazon headquarters. pixia-club.info 14 Harvard Business Review November January-February · Vol No.6 November-December Vol No. 11 November · Vol No October . Harvard Business Review. ON THE COVER. Our top CEO shot on location in. Bagsværd, Denmark, by Thomas Skou. November Harvard Business Review 7.
This unwavering focus on consumers has created innovations such as prime free shipping, detailed product reviews including negative ones , look-inside-this-book, and the listing of lower-priced products from off-site competitors. The framework lays out four steps: identifying the best primary customer for your business, creating processes to learn what that customer values, allocating resources accordingly, and building an interactive control process to monitor the assumptions that underlie your choice.
Step 1: Identify Your Primary Customer As the cases of Merck, Google, and Amazon illustrate, your most important customers are not those that generate the most revenue but those that can unlock the most value in your business. For some businesses, the primary customer will be the end user or consumer of the product or service. For others, an intermediary such as a reseller or a broker will be the critical customer to which organizational resources should be devoted.
Identifying the best primary customer for your firm involves assessing each group of customers along three dimensions: perspective, capabilities, and profit potential.
It is the lens through which executives consider opportunities and strategic direction. And Amazon founder Jeff Bezos is a zealot about delivering a superior experience to shoppers.
Capabilities refers to the embedded resources of the firm. Such capabilities, which are built up over time and are often difficult to copy, position a business to serve the needs of certain customers better than others. Dell in its early years built a formidable low-cost logistics operation to support its direct-to-consumer sales model. Today, the company is attempting to change its primary customer by refocusing on CIOs of large enterprises.
This pivot has proved difficult for Dell because CIOs look for a set of capabilities—integrated hardware, software, and services solutions—very different from what end consumers need. Uncovering the full truth about their needs requires systematic research at multiple levels.
Consider HBO. But cable operators have low switching costs—they can easily buy content from a variety of producers.
Thus HBO would have little market power and would be unable to extract high margins from cable operators. But by targeting filmmakers as the primary customer and devoting significant resources to their needs, HBO can create the unique products that viewers demand, allowing it to charge premium prices that cable operators cannot negotiate.
Choosing the Right Customer
LinkedIn is one successful company whose primary customer clearly fits all three dimensions. The group that best satisfies all three conditions should be the primary customer. Consider LinkedIn. In deciding where to focus, executives had to choose among three kinds of customers that all had the potential to generate substantial revenue: job recruiters, advertisers, and individual members.
Within the same market and industry, different primary customers may value different things: Some demand the lowest possible price, others want a dedicated service relationship, and still others are looking for the best technology or brand or other specific attribute.
Assume you have already chosen the best primary customer and have a good working idea of what the customer wants. Data analytics is an important tool in uncovering and rapidly responding to changing customer needs.
At Google, separate analytics teams for display, search, and maps spend untold hours in their labs with customers studying eye movement and other variables to gauge their reactions to subtle product modifications such as changes in color. The analysts use the intelligence to inform product research and marketing decisions and to evaluate in real time how well their value propositions are meeting the needs of the primary customer. For that, you need to actually ask them.
Smart companies set up systematic dialogues with their primary customers. Other companies, especially those with rapid product cycles, manage the dialogue through new-product testing. Finally, you should set up processes for identifying products or services that customers may not know they need.
This can be challenging—and expensive. Smart companies typically rely on ethnographic methods.
CEO A. Most companies assume that their products and services meet the needs of their customers. It turns out that all successful companies used the logic of blue ocean strategy, which has little in common with traditional methods of competition in the red ocean. The authors suggest that finding blue oceans may lead to future profitable growth.
For leaders with limited resources, a demoralized staff, and an overly politicized organization and wedded to the status quo, it may be time to apply Tipping Point Leadership and Fair Process.
Tipping Point Leadership builds on the reality that in any organisation, there are factors that exercise a disproportionate influence on performance.
Hence, achieving a leap in performance is not about investing steep resources or allocating long timeframes for change.
Rather it is about identifying and leveraging the factors that exercise a disproportionate influence on breaking the status quo, multiplying the value of existing resources, motivating employees to aggressively move forward with change, and knocking down political roadblocks. By focusing on points of disproportionate influence, and by reinforcing this focus by using Fair Process, tipping point leaders are able to create a sustainable performance leap quickly and at low cost.
They can also simultaneously earn the trust, commitment, and voluntary cooperation of employees. Theories of Tipping Point Leadership and Fair Process are based on over a decade of research into high performance organizations by Kim and Mauborgne.
Most companies focus on matching and beating their rivals.
As a result, their strategies tend to take on similar dimensions. What ensues is head-to-head competition based largely on incremental improvements in cost, quality, or both. Others blame the government for the unprecedented scale of its failure to pro- tect intellectual property rights.
Still others blame the Chinese educa- tion system, with its modernized version energy-efficient technologies, equipment manufacturing, information technology, and advanced materials. China has no lack reviewed rather than a political basis, in that number had more than doubled, of entrepreneurs or market demand. Pfizer moved its Asia head- and political will, China has the potential to At the same time, the state, with support quarters to Shanghai that year.
Since , an Advanced Technical Center compris- cal dominance. But will that potential be when the first such zone was developed, ing several engineering and design labs. We see considerable challenges.
In technologies. That was not empty talk. Beijing has in China, but by six of the top 10 wind Innovation from the Bottom Up a solid track record of setting policies and turbine firms were Chinese.
Harvard Business Review, March 2014
Tian Suning , a U. But it remained at heart a state-owned en- go bankrupt. But by creatively adapting for- In , when the telecommunications terprise.
The suc- markets were integrated into China Net- Where, we ask, is the party secretary? The cess of its auction website, Taobao, eventu- com. Overnight, Tian became responsible Communist Party requires a representative ally forced eBay out of China.
Or take Baidu, for an organization of , Every firm with more has grown massively in its home market nizations was extraordinary. Tian was seen than employees must have a party cell, with an offering that breaks no technologi- by many China Telecom employees as an whose leader reports directly to the party cal ground and does not challenge politi- American outsider trying to reform a state- in the municipality or province.
These re- cal orthodoxy. Having tailored its product, owned enterprise in unacceptable ways.Consider LinkedIn. Hence, achieving a leap in performance is not about investing steep resources or allocating long timeframes for change. Tipping Point Leadership builds on the reality that in any organisation, there are factors that exercise a disproportionate influence on performance.
Amazon devotes its resources to pleasing consumers, even if that means sellers or content providers sometimes feel shortchanged. Related Topics:. The authors studied high growth companies — and their less successful competitors — and found a fundamental difference in the way each group approached strategy.
But cable operators have low switching costs—they can easily buy content from a variety of producers.
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