Truly excellent text
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Jeremy and Tony have really excelled with this wonderful publication. The book has been instrumental in transforming our practice to that of one which can operate in the challenging fiscal enviroment of North American 'hardball' business. Congratulations !
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A book one returns to
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This book focus on one issue, how to stay alive and prosper in the new network based competitive environment. The authors look at this issue from ten different perspectives, and contrary to many other "overwiev" books, they come to a coherent conclusion from all standpoints. This book doesn't have all the answers (nobody does), but it does a very good jobb of explaining why some old truths ain't true anymore and it does point out the general directions where you should look for the new truths for the new era. /Rasmus Larsson, Internet Business Strategist at W O G N U M
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This book is a must read!
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Highly recommended for individuals that wish to be current on management principles of the information age. Very readable, and informative.
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Examine the top ten issues facing 'third wave' companies ...
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The two authors examine the top ten issues facing 'third wave' companies i.e. organisations of the information age and knowledge economy. In 'second wave' organisations (industrial economy), competitive advantage is built around efficient use of factors of production - land, labour, and capital. Third wave companies, on the other hand, compete firmly on the basis of knowledge deployment and the imaginative use of technology. According to the authors, 'second wave' managers and 'second wave' organisations (Editors note: and those teaching 'second wave' management principles and strategy) are at the crossroads. One road will lead to slow decline; the other to the prospect of long-term success. Achieving this success will require total organisational transformation in the areas of strategy; customer value; knowledge management; business organisation; market focus; management accounting; measurement and control; shareholder value; productivity and reward systems. A good example of the main argument developed is in the area of customer value. 'Third wave' organisations are those who use information technology to understand the needs of customers and to match highly focused customer segments with their own core competencies thereby building long-term relationships. This emphasis on one-to-one relationships contrasts with the approach of 'second wave' companies who have an unbending faith in increasing scale and market share, despite a wealth of evidence showing that market share and net profits are not strongly correlated. While building market share has been the one of the primary driving forces of 'second wave' companies, 'third wave' managers will be more concerned with attracting the right customers; customers that represent a close strategic fit with the company or who have the potential to grow and therefore to be highly profitable. This has major implications for assessing company value. Traditional accounting statements show only results, but seldom tell how these results were achieved or how performance compares with competitors, and are a very poor guide to future performance because they give few clues to the changes in key processes and capabilities that determine business strength.
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