加入 getAbstract 阅读摘要

Market Driven Strategy

加入 getAbstract 阅读摘要

Market Driven Strategy

Processes for Creating Value

Free Press,

15 分钟阅读
10 个要点速记
可用文本

看看什么内容？

Even the best strategic thinking is only as good as your ability to implement it.

Editorial Rating

7

Qualities

  • Applicable

Recommendation

It’s funny how little things really change. George S. Day’s book originally appeared a decade ago, but it reappears now with a theme that has since become a management mantra - let the market drive your business. While many newer books enumerate the basics of business strategy, the examples that Day culled from the likes of Otis Elevator, GE, Ikea, Acuson and 3M still illustrate the fundamental themes as well as any. The book’s one shortcoming is its academic tone, which might be expected from an author who is also a professor, but nevertheless might try the patience of some business professionals. Despite this one flaw, getabstract.com recommends this book as a straightforward exposition on business strategy that has truly stood the test of time.

Summary

Developing Business Strategy

As traditional boundaries blur, national companies go global and customers become more demanding, businesses must devise sound strategies to survive and cope. But to identify sound strategies, we must first define what exactly a strategy is. For the purpose of this discussion, a strategy offers integrated actions in the pursuit of competitive advantage.

Most businesses define themselves by their technology and materials, by the activities in their value-added chain and by their customers’ needs and demographics. For instance, at the Otis Elevator Company, a division of United Technology, the objective is to "move people and materials horizontally and vertically over relatively short distances." As one manager put it, "When elevators are running really well, people do not notice them... our objective is to go unnoticed." Otis captured the elevator market because it monitors its elevators to minimize calls for help and it responds quickly when calls for help do occur.

Leaders can develop a sound business strategy by asking themselves the following questions:

  • Can my company ward off known threats, exploit opportunities, enhance...

About the Author

George S. Day is a professor at the University of Pennsylvania’s Wharton School of Business and director of the Huntsman Center for Global Competition and Innovation. He is the author of more than 125 articles for marketing and management journals and has written 14 books, including The Market Driven Organization. Day received the Charles Coolidge Parlin Award and the Paul D. Converse Award for his work in marketing. He lives in Bryn Mawr, Pennsylvania.

Comment on this summary