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A Simple Question That Can Guide Companies to Epic Success 20 Apr 2021Book by Danielle Kost Does an idea create value? In Better, Simpler Strategy, Some companies gain advantage by commanding premium prices. Others lean on their world-class talent. But, a small slice of companies manages to do both and dramatically outperform peers. What sets these top businesses apart? It’s simple: They create the most value, says Harvard Business School Professor Felix Oberholzer-Gee. In almost every segment of the economy, the very best companies lead their peers by wide margins. They take share by building on proven ideas and expanding in markets they know. Equally important, they eschew efforts even bold, cutting-edge proposals that are unlikely to generate value for customers, employees, or suppliers. ....
PHOTO: Daniel McCullough Back when I taught marketing, I would start the first class by asking students a simple question: What did you learn about the purpose of business in your finance class? Invariably they d say the purpose of a business is to make money. I d then ask, How does a business make money? Most students would stumble with this one. The smartest response is, It depends on the kind of business you re in. With the stage set, I d introduce students to Theodore Levittâs âMarketing Imagination.â Levitt said the purpose of a business is to create and keep a customer and this, of course, is how businesses make money. But how do you create and keep a customer? A new book provides the answer. ....