Why: Mission; Passion; Burning Desire;
Where: Daring Vision, Strategic Intent,
What: Radical Innovations, Value Innovation; Brand
How: Venture Management, Surprise, Stand Out,
Growth Attitude, Speed
Who: Venture Leader, Venturepreneurial Team,
When: Fast To Market, Relentless Innovation,
8 Attributes of Corporate Success
Peters and Waterman
3 Strategies of
The Importance of Being First-to-Market
Being first in any market category is going to
give you the edge – being the leader comes from being first. It's much
easier to get into the mind of
consumers first that try to convince people you have a better product or
service than the one that did get there first.
Improvements are always made to product/service inventions and
but the first in has a head start. Once you are the leader, a position
mostly gained by being first, it is pretty hard for
competitors to dislodge you, as long as you keep your products up to
date and of comparable
Case in Point
Lessons from Jack Welch
Jack Welch's goal was to make General Electric (GE)
"the world's most competitive enterprise." To achieve this goal, Welch
urged all GE leaders to
business strategy, "Don't ever settle
for mediocrity. They key to stretch is to reach for more than you think is
possible. Don't sell yourself short by thinking that you'll fail."11
Do the best possible
– and then reach beyond. Stretch "essentially means
using dreams to set business targets
– with no real idea of how to get there. If you
do know how to get there – it's not a stretch target."...
The Do-or-die Struggle for Growth
Large companies with strong revenue
growth and high shareholder returns not only execute well but also
compete in the right sectors or segments at the right times.
Top-line growth is vital because companies that don't increase
their revenues run out of ways to drive their earnings and risk
For companies aspiring to grow, where
to compete is just as important as how. To choose the right
battlegrounds, they must match their
capabilities with sectors where profitable growth is likely to
Companies that have systematically
lagged behind the competition should
carefully consider their options.
In the early 90's, the tech market
"forced" computer companies to cut their advertising budgets.
Dell Inc. saw this as an opportunity.
They threw even more money into
advertising. Since nobody else was
advertising, this made them the only visible computer company.
Computers understood the business cycle and took control of the market
while other companies were letting the market control them.1