The value disciplines of market leaders
Michael Treacy & Fred Wiersema
Based on analysis of the strategies of market leaders, Treacey and Wiersema defined three different value disciplines:
Cost leadership
Product leadership
Client partnership
COST LEADERSHIP
Combination of low price, quality, and buying convenience that 'no one can match'
Standardisation, simplification, control
Strict norms, aimed at fast transactions
Culture of efficiency; abhorrence of squandering
PRODUCT LEADERSHIP
Breaking new grounds in products and services; offering the newest and best products
Strong focus on R&D and market exploitation
Loose adaptable organisation structure
Room for experimentation
Culture aimed at stimulating fantasy,...