The Myth of Excellence: Why Big Companies Never Try to Be the Best at Everything

Author: Fred Crawford
Publisher:
Publish Date: 2002-04-01
Features: What do customers really need? How can companies best serve their customers? After years of research, the author discovered a new consumer group that existing companies often overlook. They demand recognition, respect, trust, fairness, and honesty, and pursue a new social standard. However, most companies, despite claiming to understand their customers deeply, have never truly acknowledged this need or listened to these customers. Companies are often obsessed with "world-class standards" and "excellence," trying to stand out in every aspect, but as a result, they lose their unique identity and are not remembered by customers when they need them. The author proposes the concept of "consumer engagement," suggesting that in price, product, accessibility, experience, and service, a company should excel in one aspect, stand out in another, and merely meet industry average standards in the remaining three. Companies do not need to invest equal time and resources in every area, as customers do not expect them to do so. "Every business thinks it understands its human customers and their needs, but in The Myth of Excellence, Fred Crawford and Ryan Matthews analyze the astonishing changes before us, such as 'human values are the currency of contemporary business.' He is not crafting new business clichés but giving us a new lens through which we can clearly see consumers—the kind of lens people are too familiar with. The Myth of Excellence reveals expert insights and operational blueprints, making it a truly essential read." —Michael Ber, President, North America Consumer Products Company, Georgia-Pacific Group.