IMD-OWP22-PostEvent-Report-V11[8]

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→Strategy

ACTION POINTS

Howmany incidents can you think of easily in which your management optimized around shareholder value creation at the possible detriment to customer value creation? (e.g., Yes, it sounds like a good idea, but we cannot afford it.) Howmany incidents can you think of easily in which your management optimized around customer value creation to the detriment of customer value creation? Does any of the following ring a bell? “We organize around and celebrate products. Our main functions are product led, the pictures on the walls are of pristine products without a human to mess up the view, and the main events each year are product launches. Store visits are to check on the store and the staff rather than to listen to and meet customers, finding out what they really think about what’s going on. And customer contact means watching focus groups from behind a one-way mirror eating sandwiches, drinking wine, and laughing when they say something silly.” If it does, your company is most likely “inside-out” and far from being an “outside-in” customer-led role model.

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How can companies achieve this approach? Here are five steps:

4 Systematize (there is no other way – the belief is firmly established) 5 Celebrate your purpose as creating customer value in new and better ways

Create a sense of “burningness”

(render the status quo utterly unacceptable) 2 Create a moment of belief (illustrate how decisions put the customer, not the bottom line, first) 3 Encourage and support more moments of belief (make them the way we do things around here)