The Momentum Effect: How to Ignite Exceptional Growth [NOOK Book]

Overview

A few rare companies have discovered the secret to sustained high growth: momentum. They’ve learned how to create the conditions that lead to exceptional organic growth—which feeds on itself, continually accelerating the business forward. In The Momentum Effect, J.C. Larreche introduces a complete framework for gaining momentum, keeping it, and harnessing its power. Drawing on new research and powerful case studies, Larreche demonstrates the stunning role of momentum in value creation. He sets out the process for...

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The Momentum Effect: How to Ignite Exceptional Growth

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Overview

A few rare companies have discovered the secret to sustained high growth: momentum. They’ve learned how to create the conditions that lead to exceptional organic growth—which feeds on itself, continually accelerating the business forward. In The Momentum Effect, J.C. Larreche introduces a complete framework for gaining momentum, keeping it, and harnessing its power. Drawing on new research and powerful case studies, Larreche demonstrates the stunning role of momentum in value creation. He sets out the process for developing the “power offers” that lie at the heart of this powerful force. This book offers a systematic process for creating momentum that will work in any business, in any industry, and under any market conditions. You’ll learn how to create new value through a momentum strategy and build the leadership competencies to deliver highly profitable growth over the next six months…five years…even decades.

•Pioneer or die: drive momentum and harness its stunning power
How momentum-powered firms create 80% more shareholder value

•Understand the drivers of momentum strategy
Craft power offers, mobilize for growth, and more

•Master the Momentum Process: design and execution
Eight specific steps to implement a long-term winning momentum strategy

•Climb the five-step Momentum Leadership Ladder
How leaders can systematically generate and direct momentum

"This book shows you how to build momentum for growth and leave your competitors trailing far in your wake!"

–Sir Richard Branson

"J.C. Larreche’s book, The Momentum Effect, is a must-read. It highlights why more marketing spend and further value extraction are not the key determinants for future growth. To create powerful momentum for exceptional growth, it is essential to offer innovative value to the marketplace. The Momentum Effect outlines just how to achieve this. The results are illuminating.

—W. Chan Kim & Renée Mauborgne, Authors of Blue Ocean Strategy

"How can companies achieve exceptional and sustained growth? The Momentum Effect explores this challenge and reveals successful strategies for originating new sources of growth and value from customers with the power to unlock great potential.”

—Dr. Daniel Vasella, Chairman & CEO, Novartis AG, Basel/Switzerland

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Product Details

  • ISBN-13: 9780132716338
  • Publisher: Pearson Education
  • Publication date: 4/9/2008
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 352
  • File size: 3 MB

Meet the Author

J.C. Larreche is Professor at INSEAD, the famous international business school, where he holds the Alfred H. Heineken Chair. It was as a student at Stanford that he was first nicknamed “J.C.” by his friends. It was also there, in the midst of Silicon Valley, that he developed an interest in the way some firms achieve exceptional growth while others don’t. Since then, his research, teaching, and consulting activities have focused on the discovery of systematic and practical ways to help businesses achieve quality growth that is not only exceptional but also sustainable.

J.C. has always combined his academic life with a business career, and is particularly sensitive to the practical day-to-day realities which executives have to deal with. He is a renowned consultant with leading global corporations, most of them listed in the global Fortune 500. Aged just 36, J.C. was appointed a nonexecutive director of the multinational firm that became ReckittBenckiser, and he kept that position for an exceptionally long tenure of 18 years. He is the Founding Chairman of StratX a strategic development consultancy with offices in Boston, Paris and Tokyo.

His academic work concentrates on fostering the fundamental capabilities that impact a firm’s ability to deliver growth and especially marketing excellence, customer focus, and innovation. J.C. is the author and coauthor of many books and articles, including Markstrat, the leading strategic marketing simulation used by more than one million executives worldwide. He has won many awards, including Marketing Educator of the Year and BusinessWeek’s European Case of the Year award. J.C. is also a respected executive educator whose programs are among the most highly rated in INSEAD’s excellent portfolio.

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Table of Contents

Preface xxi

PART I Discovering Momentum 1

Chapter 1The Power of Momentum 3

Where’s the Impetus? 3

What’s Holding Us Back? 4

Pushers, Plodders, and Pioneers 5

Momentum-Powered Firms 9

The Power of Momentum in Action 11

Wal-Mart 11

Toyota 12

Join the Momentum League 14

Chapter 2 The Source of Momentum 15

The Day Gary Kildall Went Flying 15

The Source of Microsoft’s Momentum 16

How Value Is Created 17

Where Is the Unlimited Potential? 19

Drivers of Momentum Strategy 21

Exploring the Customer’s Space 21

Crafting “Power” Offers 22

Mobilizing for Growth 23

Momentum Strategy at Work: The iPod 24

How Momentum Growth Opens a New Efficiency Frontier 25

Moving from Compensating to Momentum Strategy 26

Less Is More, More for Less 27

Unlock Your Unlimited Potential 28

Chapter 3 The Road to Momentum 29

Vasella’s Eureka Moment 29

The Momentum-Powered Firm in Action 30

The Results Momentum Can Deliver 31

The Twin Engines of Momentum 32

Momentum Design 34

Momentum Execution 36

Momentum Design at Skype 38

Momentum Execution at Skype 41

Making Momentum Systematic 44

PART II Designing Momentum 47

Chapter 4 Compelling Insights 49

IBM Is Listening Again 49

The Value-Origination Blind Spot 50

Virgin Atlantic 51

Customer Insights 52

3M: Post-it Notes 53

Alcoa Packaging: Fridge Pack 53

Dassault: The Falcon 7X Aircraft 54

The Systematic Discovery of Compelling Insights 54

The Knowing-Doing Discovery Path 57

The Listening Discovery Path 58

The Learning Discovery Path 58

The White Discovery Path 59

The Exploration Process 60

Guiding Exploration 60

Enabling Exploration 63

Explore the World for Insights 65

Chapter 5 Compelling Value 69

What Women Want 69

What Does a Customer Value? That Depends 70

Customer Myopia 72

The Customer Value Map 73

Delighting Customers 74

Abusing Customers 76

What’s It Worth? How Customers See Value 77

The Customer Value Wedge 78

Financial Customer Value 80

Functional Customer Value 81

Intangible Customer Value 82

Emotional Customer Value 82

Let the Customer See Better Value 84

The Golden Pathway to Increased Customer Value 85

Go Deep, Be Compelling 87

Chapter 6 Compelling Equity 89

The Man Who Taught an Old Dog New Tricks 89

The Concept of Compelling Equity 90

Transaction Myopia 92

Lifetime Value: The First Step in Correcting Transaction Myopia 94

The Customer Equity Wedge 96

Financial Customer Equity 97

Functional Customer Equity 98

Intangible Customer Equity 99

Emotional Customer Equity 100

The Customer Equity Map 102

Optimizing Customer Equity 104

The Three Paths of Customer-Equity Optimization 104

Zero-in on Customers Who Drive Momentum 106

Chapter 7 Power Offer Design 109

A Bank That Doesn’t Like Banking 109

What Is a Power Offer? 110

Exploring for Customer Traction 112

From Exploration to Design of a Power Offer 114

The Compelling Value Path to the Power Offer 115

The Compelling Equity Path to the Power Offer 118

The Pillars of a Power Offer 120

Compelling Proposition 123

Compelling Target 124

Power Crafting 125

The Virtuous Circle of Power Offer Design 127

Design for Traction 129

PART III Executing Momentum

Chapter 8 Power Offer Execution 133

A Tape Recorder That Didn’t Record 133

The Execution of the Power Offer 134

From Product Focus to Value Focus 135

Momentum as a New Business Model 135

The Dynamic Evolution of Power Offers 137

The Business Value of Momentum 140

The Chain Reaction of the Power Offer 143

The Virtuous Circle of Momentum 143

Breaking the Vicious Circles 146

Building and Sustaining Momentum 147

Understand the Emotional Drivers of Momentum 147

Implement a Systematic Action Roadmap to Momentum 148

Turn Traction into Momentum 150

Chapter 9 Vibrant Satisfaction 153

Moments of Truth 153

Why Vibrant? 154

The Emotions Beneath Satisfaction 155

“Dissatisfaction Inside” 155

Why Intensity Matters 156

Champions and Desperados 158

Satisfaction Metrics 159

Top Box Ambition 160

The Impact of Vibrant Satisfaction 162

Aiming for Vibrant Satisfaction 163

Strategies for Vibrant Satisfaction 164

Mobilize for Vibrant Satisfaction 165

Detect Sources of Dissatisfaction 166

Convert Unsatisfied Customers 168

Nothing Less Than Vibrant 172

Chapter 10 Vibrant Retention 175

For Want of a Key 175

Loyals and Runaways 176

The Emotions Beneath Retention 177

“Freedom Inside” 177

“Temptation Outside” 178

Retention Metrics 179

The Business Impact of Retention 180

Vibrant Retention 182

Passive Retention

Forced Retention 185

Vibrant Retention 187

Strategies for Vibrant Retention 188

Mobilize for Vibrant Retention 188

Detect Sources of Defection 189

Convert Defecting Customers 190

Nothing Less Than Vibrant 192

Chapter 11 Vibrant Engagement 195

Harry Potter and the Exceptionally Engaged Readers 195

Advocates and Detractors 196

Why “Vibrant” Engagement? 197

The Human Nature of Engagement 197

“Belonging Inside” 197

“Broadcasting Outside” 199

Ambitious Engagement Metrics 200

The Business Value of Engagement 201

Accelerator I: Boosted Compelling Value 201

Accelerator II: Boosted Compelling Equity 202

Accelerator III: Boosted Customer Acquisition 203

The Richness of Vibrant Engagement 204

Paid-For Value and Ambient Value 205

The Customer Engagement Portfolio 206

Strategies for Vibrant Engagement 208

Mobilize for Vibrant Engagement 208

Detecting Sources of Engagement 209

Converting for Vibrant Engagement 210

Competing in the Momentum-Powered League 212

Nothing Less Than Vibrant 214

PART IV Total Momentum 217

Chapter 12 Internal Momentum 219

Give Me a Squiggly! 219

Mobilizing the Energy Within 220

Building Internal Momentum 221

Compelling Employee Insights 221

Compelling Employee Value 223

Compelling Employee Equity 224

Employee Power Offers 224

Vibrant Employee Satisfaction 225

Vibrant Employee Retention 226

Vibrant Employee Engagement 227

The Momentum Culture 228

The Customer Spirit: “The Real Battlefield Is Outside” 230

The Competitive Spirit: “Outsmarting Your Opponent” 231

Internal Momentum in Crises 231

Wal-Mart’s German Fiasco 232

Johnson & Johnson and the Tylenol Crisis 232

The Best of Human Nature 235

Harness Your People Power 236

Chapter 13 Momentum Leadership 239

Can You Ski the Face? 239

Generating and Directing Momentum 240

The Momentum-Leadership Ladder 241

Momentum Leadership 243

Momentum Leadership 245

Momentum Leadership 248

Tips for Aspiring Momentum Leaders 252

Commit to Value Origination 253

Practice Momentum Concepts Continuously with Your Contacts 254

Have Respect for People 255

Spend Quality Time with Customers, Employees, and Stakeholders 256

Be Momentum Consistent 257

It Starts with You 258

Chapter 14 Epilogue 261

Seizing the Unlimited Potential 262

The Momentum Journey 262

Our Momentum Future 264

Bibliography 267

Endnotes 281

Index 313

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