by J.C. Larreche
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Product Description
One of the most frequent challenges that managers and executives face today is: How do I keep on growing and at the same time, make a profit?' Based on the author's extensive research on over 350 Fortune 1000 Firms, The Momentum Effect proves that the old method of spending big on marketing and slashing the manufacturing costs doesn't work anymore. Instead, it provides new evidence to show that in order to achieve profitable growth you have to create new value for customers through innovation, ingenuity and most importantly by seeing things from a customer perspective. This strategy generates a positive, reinforcing momentum which leads to further growth. Why limit your business growth? With Momentum, you won't have to.
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Average Customer Review:
3 of 3 people found the following review helpful:
 Your Long Term Growth Ignition Guide, 2008-10-14
First off, this book is NOT for know it all types who believe their product and marketing is far superior already or those looking for quick fixes. What JC outlines is continuous sustainable improvement. Executives or business owners looking to improve quarterly numbers may walk away disappointed because there aren't a bunch of one time "jewels" in the book that can be implemented today with results to follow in a few hours.
JC's enthusiasm for the topic shines through like a beacon on a dark and dreary night. It's contagious as you read through the book. There are a lot of takeaways including but not limited to:
1. Small changes can have a huge impact on your business. For instance, 1% improvements in key areas can make exponential differences.
2. Look for traits in people you want your business to emulate then train them on the tactical stuff.
3. Build relationships by connecting emotionally with your customers and creating delightful experiences.
4. Give customers what they need--the extras are unnecessary. Make sure they're satisfied above all else. This seems to be a view being echoed by more and more marketing experts.
Among the benefits you may obtain:
A. 8 steps to a long term winning strategy. Who couldn't use that?
B. Review case studies which are beyond traditional statistics that demonstrate applied theory to relate back to your business.
C. Develop a holistic philosophy for your organization that incorporates excellence throughout.
D. Drive 80% more shareholder value through high performance marketing.
E. Challenge the status quo and your way of thinking so that you look at things from an innovative perspective.
Finally, this book builds upon Blue Ocean Strategy, and I would highly recommend it if you're looking to develop a culture of excellence in your organization.
3 of 3 people found the following review helpful:
Beyond the ordinary, 2008-09-28
With so much being written about 'delighting customers', the 'customer experience', 'customer satisfaction' and the like it is great to read a book that really goes beyond the ordinary, to really dig into how organisations can really leave their competitors behind.
And it's none of this; engage customers differently or deliver compelling offers, this book really takes it to the next level.....Compelling Value, Power Offers, Vibrant Satisfaction, Vibrant Engagement and Vibrant Retention.
Great descriptions that really help organisations understand the need to go beyond good to the heart of building momentum.
If you've read all the standard texts on the topic, I'm sure you'll find a stimulating, thought provoking journey beyond ordinary thinking.
Enjoy!
2 of 3 people found the following review helpful:
Powerful and Compelling, 2008-09-22
This book is about how to create profitable growth and sustain that growth indefinitely. Achieving this state of indefinite profitable growth is called momentum. Momentum results from an intense customer focus that permeates the enterprise. Notions relating to customers - insights, value, equity, offering, satisfaction, retention, and engagement -- are given qualifying labels, explicit momentum oriented definitions, and represented as modules of a system of an iterative synergistic process. This process develops traction with customers and removes resistance to growth while focusing all the sources of energy of the firm on building and keeping the momentum going. This is a complete framework for what the title of the book claims - how to ignite exceptional growth. Each stage of the process is described along with related case studies that provide evidence of the effectiveness of the process.
Applying this momentum framework as an interpretive lens to businesses reveals compelling insights. One insight is that a business with a disciplined approach to providing compelling customer value and creating vibrant customer satisfaction actually does this at a lower cost than a business not so oriented. And, of course, the kicker is the phenomenal profitable growth and value that accrues to the firm practicing the principles of momentum. Another insight is the cumulative results that come about with such a tight-knit discipline. Over time, even small advantages in cost or growth factors in the business result in tremendous leads over competitors - like the miracle of compound interest - putting a firm into a whole new arena, i.e. leaving competitors trailing in their wake.
What is particularly good about this book is the thoroughness with which a very complex subject has been addressed. Each essential idea, such as `compelling equity' or `power offering,' is explicitly defined to bring home what it means specifically to this process. Frameworks and constructs explain how to pragmatically address the essential idea in each module of the overall process. For example, there is an Insight Discovery Matrix for flushing out Compelling Insights. There is the Customer Value Map and Wedge to define what the customer perceives as value. The frameworks bring effective guidance to what are otherwise too often unstructured activities. One particularly powerful framework is the Action Roadmap to Momentum that guides the mobilization of stakeholders, detects friction and insights, and converts customers. Disciplined use of this framework, even by the most successful firms, will prevent management from falling into the traps of hubris or complacency. Essential to effective management, possible performance metrics related to each of the essential ideas are provided as well.
What I think makes the momentum approach particularly effective is that the inherently messy process of exploration is given the structure needed to manage it but, at the same time, not destroy the messiness that is essential for creativity to thrive. A vital element of exploration is the technique of iteration. The power and value of iteration is often unrecognized and untapped by impatient management. Here it is a central theme to the whole approach.
An important contribution to the discussion of business models is noting the design and execution of the firm's offering as a business model in and of itself. Larréché identifies three renditions of an offering creation business model as it has evolved over time. First is the product-focused model: develop the product, make the product, and sell the product. Next is the value-delivery model: select the value proposition, create the value, and communicate the value. These first two models are linear models. The third model, the momentum model is an iterative, interactive, and integrative model that brings the design and execution of offerings into one symbiotic relationship.
The employee momentum, the internal momentum that complements the external momentum, is addressed with the same model and principles as the one that addresses the customer. The leadership to build momentum and create synergy between customer momentum and employee momentum is also addressed. Both the employee momentum and momentum leadership are part of the overall momentum puzzle to be solved.
A lot is packed into this book. It may require some study to capture its full value. It is a valuable contribution to the art and science of management.
1 of 1 people found the following review helpful:
An exceptional book! Must read!, 2008-07-24
A good selection of illustrative business cases, occasional thoughts that we had at the back of our mind organized and presented in a clear and enlightning way. Logical and convincing theory. Good reading for managers who want their daily routine to be in tune with the global picture.
3 of 3 people found the following review helpful:
Must Read for Stainable Growth, 2008-06-07
THE MOMENTUM EFFECT - HOW TO IGNITE EXCEPTIONAL GROWTH covers all aspects of management, both external and internal, of a successful company sustaining high growth. It demonstrates how momentum powered firms significantly increase value for all stakeholders, including customers, employees and shareholders through the following eight steps:
* Momentum Design
o Compelling insights that can only come from time spent with customers;
o These insights lead to compelling values by understanding the deeper human drivers;
o Compelling values lead to power offers meaning power with customers and power to generate growth;
o Power offers generate customers with compelling equity maximizing the value of customers to the firm;
* Momentum Execution
o Power offers are continuously tweaked and improved until they become irresistible;
o The delivery of the power offer leads to superior customer satisfaction what the author calls vibrant satisfaction;
o Vibrant satisfaction leads to vibrant retention and
o Vibrant engagement of the customer. Momentum companies engage customers at an emotional level to generate positive, momentum-driven action.
Each of these eight essential components of momentum strategy are described in detail and richly illustrated by real life stories from momentum companies like Wal-Mart, BMW, Skype, Apple and IKEA, to name just a few. These momentum driving components allow you to systematically harness the powerful, sustainable energy that can take your firm to the new efficiency frontier, driving the exceptional growth that will propel you into a different league. Finally, the Momentum Effect is a never ending journey, not a destination.
Jean-Claude Larreche is professor at the renowned European management school INSEAD and a consultant with leading global corporations.
THE MOMENTUM EFFECT is a joy to read and a must read for anybody who needs to excel in today's competitive world. Kai Wenk-Wolff (MBA INSEAD) is a turn-around specialist for manufacturing operations.
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