The Discipline of Market Leaders
: Choose Your Customers, Narrow Your Focus, Dominate Your Market
By Michael Treacy, Fred Wiersema - Published in Hardcover on 01/01/1995
By Michael Treacy, Fred Wiersema - Published in Hardcover on 01/01/1995
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In 1995, I experienced a life-altering A-Ha Moment. While reading THE DISCIPLINE OF MARKET LEADERS, the game of business strategy clicked for me, and my love for business books was born.
The authors, Michael Tracey and Fred Wiersema, researched how businesses achieve sustained success. Their findings revealed three disciplines exist for companies to achieve a successful market leadership position: (1) operational excellence, (2) product leadership, and (3) customer intimacy. According to their research, market-leading businesses must excel in one discipline and be satisfactory in the other two disciplines.
While it is tantalizing to build a business that excels in all three disciplines, Tracey and Wiersema warn against it. They say it is a recipe for failure because it is impossible for a business to be operationally excellent AND leaders in product development AND the best at nurturing customer relationships. It is, however, possible for a business to be best-in-class with one discipline and be satisfactory in the other two disciplines. It’s not just possible … it’s paramount for any business seeking to become a market leader.
A-Ha! FOCUS ON ONE DISCIPLINE! That’s the blueprint to building a market leading business. Be the absolute best in one discipline and remain competitive in the other two disciplines. That’s the actionable business advice I learned then and still believe in today.
- john moore (from Brand Autopsy)
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