response to discussion post - Business Finance
I want you to reply to my one of my classmates and response to three other posts
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I think you made some great points and I agree that the three value disciplines are still relevant today.
Amazon, however, I feel demonstrates operational excellence more than product leadership. They have
managed to establish a massive online market for several different types of products and a market place
for independent sellers. Doing so they have changed the entire operational focus of retailers such as
Walmart and Target. The changes they have made tie into your points on prime and ease of customers
not having to leave their home. Amazon is always expending adjusting to have a competitive edge, but in
this their main focus is the operation of getting any products products from their warehouses to the seller
in a convenient and timely manner.
Post1:
Customer Intimacy and Other Value Disciplines discusses how companies become a
leader within their market by the type of value they provide their customers. They
performed a three-year study on 40 companies on their value disciplines. For a
company to be successful it must choose and perfect at least one value of discipline;
operational excellence, customer intimacy, or product leadership. To master a value
discipline the company must fully understand the product or service they offer and
the target market they are selling to. To maintain value leadership, it is important for
a company to focus on continuous improvement in this value discipline. For
example, it is not enough to have the best product; the product developers need to
be constantly looking forward for creative new ideas, pursue new solutions, and
quickly implement updates or new products.
Chick-Fil-a is a fast food company that focuses on the value discipline of customer
intimacy, and is successful at it. Unlike McDonalds or Taco Bell, a customer doesn’t
go to Chick-Fil-A for the cheapest options. A customer goes to Chick-Fil-a for the
outstanding customer service and good quality food. Having excellent customer
service allows them to have a competitive advantage. A customer knows they will be
treated well, and properly compensated for any inconvenience. According to
Business Insider Chick-Fil-A was number one on American Customer Satisfaction
Indexs annual restaurant report in 2019 for the fourth year in a row. At chick-Fil-A
for example, a customer can ask for extra sauces with no problem, while at
McDonalds they will charge you extra. If McDonalds messes up your order, a
customer knows they will not receive as prompt of a proper and happy response for
the inconvenience. Customer service is executed so well at Chick- Fil-A there are
several videos and photos on socially media joking about the difference in customer
service at McDonalds versus Chick-Fil-A.
The three value disciplines are still relevant today. It shows companies know their
customer, although it is more important for all companies to practice a form of
operational excellence. Customers today expect their products or services always
within a timely manner and have more access than ever to reach out for other
options. Some companies can be difficult to tell what value discipline they are
focusing on. It is easy for a company to attempt to spread themselves too thin,
focusing on all values and losing sight of their target market and the value most
important to the customer. It is possible for a company to be successful in more than
one value, however, this takes a well-structured company, with well-defined goals,
and support to accomplish them. A company that has a defined value discipline
easily identifiable shows knowledge of their customer, and the ability to keep up
with their needs within that product or service. It also helps the consumer to know
what to expect from the company and if it fits their own values. Consumers can use
this to distinguish between competitors.
Post2:
In your own words, summarize the article in no more than five sentences.
HBR article “Customer Intimacy and Other Value Disciplines” discusses three
value disciplines that that allow companies to find value in products within their industry
in a different manner, namely, operational excellence, customer intimacy, and product
leadership. Furthermore, the article explains that along with redefining value for
consumers, company leaders also build business infrastructure to cater to customers
values and thus create higher consumer expectations. Moreover, companies must be a
leader in one of the three value disciplines and meet the industry standards in the other
two, in order to succeed, like Dell Computer, Home Depot, and Nike. In some instances,
companies like Toyota, USAA, and Staples have become a master of two of the value
disciplines, all of which have achieved operational excellence.
Name a company that you are familiar with or are interested in. Discuss what its likely sources of
competitive advantage. Be sure to provide some rationale as to why you think so and associated
sources of information (provide at least one). Describe its customer value proposition.
A company that I am familiar with is Amazon. It’s source of competitive
advantage is likely, its being a master of two, possibly even all three of the value
disciplines. Firstly, the Company has certainly changed what customers value, how it is
delivered to them, and boosted consumer expectations. Like Dell, Amazon, sells
products directly to customers, typically at the lowest cost, in an extremely convenient
manner. By exclusively being an online retailer and striking a lot of tax abatement deals,
Amazon has managed to have lower overhead costs than many of its retail
competitors. Additionally, the Company provides customer intimacy, like Home Depot
because it provides customers with access to information about produces, comparisons
amongst different products, and reviews from buyers. Like Staples, Amazon as well as
the consumer are able to track all of the orders he or she makes, allowing one to
purchase something again very easy.
Furthermore, Amazon certainly exemplifies product leadership because it is
constantly offering more products and services such as two-hour shipping for purchases
made at Whole Foods. Moreover, Amazon has tried to sustain its leadership by
expanding its business. This is certainly the case when it comes to the Company’s
transportation division. At first, Amazon heavily relied on third party carriers such as
UPS, FedEX, and USPS. However, it has expanded into having its own trucks, vans,
and airplanes to keep up with all of its orders.
This is an article titled “The discipline of Amazon” From Medium on 06/29/2015
https://medium.com/@albluca/the-discipline-of-amazon-a6dcb1d3a6e1
This is an article titled “The Amazon Effect on the U.S. Economy” From Investopedia on 03/31/2020
https://www.investopedia.com/insights/amazon-effect-us-economy/
This is an article titled “How Amazon Changed Whole Foods” From Forbes on 06/25/2019
https://www.forbes.com/sites/stevebanker/2019/06/25/how-amazon-changed-wholefoods/#7753ea0978dd
Application: Can you think of a successful firm whose success could not be fit into the three
paths discussed by Treacy and Wiersema? In other words, should the three-paths be updated or
does it still apply to modern businesses, in your opinion?
I believe the three-paths should remain the same because for the most part they
are still applicable to modern business. The only exception that I can think of is
Amazon. In some ways it could be said that Amazon goes far beyond the three
disciplines we learned about because it has completely revolutionized people’s
expectations, even outside of its “industry.” Personally, Amazon has completely
changed my expectations when it comes to making purchases, obtaining them quickly,
in a convenient manner. It was has moved me away from purchasing clothes that need
to be dry cleaned for work, to subscribing to Rent the Runway. I personally, can’t think
of any other business that has revolutionized consumers expectations outside of the
three value disciplines. Thus, it would be best to keep them the same.
Post3:
1.
In your own words, briefly summarize the article in no more than five sentences.
The article details how leading companies have changed how they have viewed customer values and narrowed
their focus to one of three value areas: operational excellence, customer intimacy, or product leadership.
Operational excellence focuses on providing reliable products or services at competitive prices with minimal
difficulty to customers; the article names Dell, GE, and Wal-Mart as examples. Customer intimacy targets
precise markets and fine tunes products or services to match exactly what the customer wants; examples include
Home Depot, Kraft, and Nordstrom. Product leadership provides customers with state-of-the-art products or
services with constant enhancements to remain “leading-edge.” Nike and Johnson & Johnson fit into this path.
2. Name a company that you are familiar with or are interested in. Discuss what its likely sources of competitive
advantage. Be sure to provide some rationale as to why you think so and associated sources of information
(provide at least one). Describe its customer value proposition.
For this part of the discussion, I chose Dollar Shave Club. Aside from great commercials, Dollar Shave Club’s
competitive advantage certainly comes from a focus on operational excellence. Dollar Shave Club provides
razors directly to consumers via mail through subscriptions. This keeps prices low while keeping things
extremely convenient for consumers (the definition of operational excellence). Gillette is still the juggernaut in
the shaving industry, but direct to consumer services are clearly disrupting the market. Gillette’s market share
has decreased from 70\% to less than 50\% in the last decade (CNBC, 2018). Dollar Shave Club has grown to 8\%
since its inception in 2011 (CNBC, 2018).
Startups shook up the sleezy razor market. (2018, September 26). Retrieved from
https://www.cnbc.com/2018/09/26/startups-shook-up-the-sleepy-razor-market-whats-next.html
3. Application: Can you think of a successful firm whose success could not be fit into the three paths discussed
by Treacy and Wiersema? In other words, should the three-paths be updated or does it still apply to modern
businesses, in your opinion?
One firm that does not fit perfectly into the 3 paths discussed in the article is Aldi. Of the three paths, Aldi most
closely resembles an operational excellence focus but has some differences. Aldi carries reliable products, but
shopping at Aldi is not as convenient as other grocery stores. For example, customers must bag their own
groceries, and product selection is not as vast as other stores.
Many concepts in the article apply to modern business, but I think that there should be updates. Just as
businesses are constantly changing, so should the way we categorize customer value paths.
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