This work offers a summary of the book "THE MYTH OF EXCELLENCE: Why Great Companies Never Try to Be the Best at Everything" by Fred Crawford and Ryan Mathews.Fred Crawford is an executive vice president at Cap Gemini Ernst & Young, a management consulting and systems integration firm. Ryan Mathews is a futurist at FirstMatter, another consulting firm. According to Crawford and Mathews, many businesses fall into the trap of trying to be all things to all people and instead end up becoming just the same as everyone else. This happens whenever a firm tries to excel in all the five key attributes of commercial transactions: (1) price; (2) product; (3) access; (4) experience; and (5) service.As Crawford and Mathews show in The Myth of Excellence, great companies do something entirely different - they listen to their customers and then decide on one attribute where they will dominate and one attribute where they will differentiate. Then they focus all their resources on excelling in those two key attributes and do everything else to general industry standards level.In a clear writing style, the authors use examples and case studies to explain their ideas. The Myth of Excellence is a pragmatic guide filled with helpful advice for businesspeople.

The must-read summary of Fred Crawford and Ryan Matthews' book: "The Myth of Excellence: Why Great Companies Never Try to Be the Best at Everything".

This complete summary of the ideas from Fred Crawford and Ryan Matthews' book "The Myth of Excellence" shows that many businesses fall into the trap of trying to be all things to all people and instead end up becoming just the same as everyone else. In their book, the authors explain that this happens whenever a company attempts to excel in all of the five key attributes of commercial transactions: price, product, access, experience and service. This summary will teach you that great companies do something entirely different - they listen to their customers and then decide on one attribute where they will dominate and one attribute where they will differentiate.

Added-value of this summary:
. Save time
. Understand key concepts
. Expand your business knowledge

To learn more, read "The Myth of Excellence" and discover the key to standing out from the crowd and succeeding.