The Myth of Excellence ─ Why Great Companies Never Try to Be the Best at Everything

Ex‧cel‧lence (n.) 1. The clearly false and destructive theory that a company ought to be great at everything it does. 2. A mistaken goal in which the predictable outcome is that the company ends up world-class at nothing—not well-differentiated and therefore not thought of by consumers at the moment of need.

Based on exhaustive research, The Myth of Excellence provides conclusive evidence of the futility of trying to be excellent in all aspects of a commercial transaction—price, product, access, experience, and service. Instead, the strategy for your products and services should be to dominate on one element, differentiate on a second, and be at industry par (i.e., average) on the rest. Yes, it is okay to be average as long as your customers know specifically where and how you are superior and world-class.

FRED CRAWFORD is executive vice president and global sector leader of Cap Gemini Ernst & Young's consumer products, retail, and distribution consulting practice. From his base in New York City he travels the globe working with senior executives on how to reach today's elusive consumer.

RYAN MATHEWS is a principal at FirstMatter LLC, a leading futurist firm that works with companies such as Procter & Gamble, Unilever, Grey Advertising, General Motors, Georgia-Pacific, and Coca-Cola to anticipate the trends shaping corporate America, global business, and e-commerce.


From the Hardcover edition.