Rating: 
Summary: Excellent guide from the opportunity sensitivity standpoint!
Review: I was attracted to this book firstly because of the authors' earlier book, The 2000 per cent Solution, in which they shared some very interesting insights about creative problem solving. Secondly, it has a primary focus on business innovation...business model innovation, to be more precise. Thirdly, while doing a quick browsing, I noted that at the onset, the authors have deliberately outlined the success sequence of the model in the introduction. From my personal experience, the latter often makes the reading assimilation like a breeze! Unfortunately, I noted that very few authors do this. Again, I must say this book did not disappoint me after my perusal. This book has really lived up to the authors' purpose of writing their book: ..to re-direct your PERCEPTION of what must be done to lead...to help shift your FOCUS into more productive directions.... I would have thought that a more appropriate secondary title for this book should have been 'Secrets of Continually Developing a Disciplined Business Opportunity Sensitivity Model'. It is exactly from this standpoint that I have enjoyed reading this book and have ranked it as an excellent guide. In fact, on page 255, under Chapter 8, the authors have even quoted Edward de Bono: "Everyone is surrounded by opportunities. But they only exist once they have been seen. And they will only be seen if they are looked for." There is a very broad spectrum of business examples, and most of them are very well-illustrated. There are also numerous self-probing questions at the end of some chapters to help the reader to think through some critical issues. The questions are very discerning and disciplined: well-structured and yet open-ended. All these have been beautifully crafted to help the reader to develop direct observation skills - they resonates fully with de Bono's contention as illustrated above. From my personal perspective, I would have expected the authors to give a more detailed and in-depth treatment of the closing chapters, particularly Chapters 7 and 8. This would have been an added punch to the book. For example, I fancy the 'Look at the Orchard as well as the Tree' section was somewhat perfunctorily treated. This would have given the reader a more systems-perspective of the business model innovation. This is my only adverse comment about this book. On the whole, in terms of learning points and application orientation from the opportunity sensitivity standpoint, I thoroughly enjoyed this book. Among the numerous examples, I particularly enjoyed reading the anecdotes about Peter Drucker and Frank Wright. If you need help in identifying opportunity-sensitive areas in your business, I strongly recommend readers to get hold of this book - and if you desire to enhance your opportunity sensitivity capability further, I would strongly suggest you 'syntopicalise' your reading with the following books: Edward de Bono's Opportunities;
Peter Drucker's Innovation & Entrepreneurship;
Michel Robert's Innovation Formula;
Peter Skat-Rordam's Changing Strategic Direction;
Art Turock's Invent Business Opportunities;
Enjoy your assimilation!
Rating:
Summary: If You're Not Serious -- Don't Read This Book
Review: Mitchell and Coles have done "the work": the research, interviews and thinking. Now it's your turn. If you're dead serious about actively inventing a truly successful business future, the ideas, facts, conclusions, models and "how to" are in this book. This book is NOT about a quick fix. It is not a "fun read". It is not about 7 easy steps or the equivalent fad-of-the-month. I found some of the early parts of the book a bit too promotional of the ideas -- they're repeated often and sold a bit too enthusiastically for this reader. On the other hand, my experience tells me that authors who really know their "stuff" and care about the actual results the reader takes away, sometime overreach. The end result for me from reading and some notetaking, was to launch a conversation with several trusted colleagues and mentors that includes a review of our past business model, our current plans for the future and a fresh look at what might be possible. I believe that's a compliment to the book and the authors. I'm grateful to them for what I learned and for the results I know we'll create from their work. Sooooo ... buy the book if you're serious about your business future. If you want light reading, stick to one of the seven-easy-step offerings.
Rating:
Summary: Useful advice that will help any business or organization
Review: Want to help your company or organization become the best
that it can be? If so, then read THE ULTIMATE COMPETITIVE
ADVANTAGE by Donald Mitchell and Carol Coles. I think the book's subtitle says it all: SECRETS OF DEVELOPING A
MORE PROFITABLE BUSINESS MODEL! . . . the authors not
just describe it; they also show you how to implement it. There are lots of examples given, applicable to most any
situation (small- to large-sized business, nonprofit, etc.) . . . I also
liked the series of thought-provoking questions at the end
of most chapters. For example: How can a better price structure expand the
market faster? Mitchell and Cole, in discussing the
answer, cite American Online when it first shifted
from a time-related charge to a fixed fee for unlimited
usage . . . the market expanded so rapidly that the
company had to struggle to keep up with the demand . . . I
remember that period, too . . . and even though I despised
the level of service I was getting for a very short period of
time, I'd still take it when I recall how much my bills used to be. There were several other memorable passages; among them:
Think about the last time you unsuccessfully looked for a misplaced
object. What did you do? Chances are you kept reexamining the same
places. If you didn't find it in a particular place the first time, is it
likely to be there the second time? Or the third? Your passing gaze
may have briefly focused on other areas, but they remained unsearched.
When you expanded your search to these other areas, you found
what you were looking for. Eureka! You enjoyed your success and
a great sense of relief. Drawing on that experience, you will find that
your odds of success with business model innovation are also increased
if you begin by looking in places where you have not yet searched. Another prime opportunity is to ask different questions. For example,
a good role-playing alternative is to perform the same analysis . . . except from the perspective of imagining that you work for each of
your competitors and potential competitors. You can profitably do
something similar by imagining that you work for complementary
companies that you might acquire. How do you know if your organization's values aren't sufficient? A
good visceral test is to ask yourself if you feel inspired and proud
to do your job because of what your company stands for. If you
don't feel that inspiration and pride, what would have to change
about the company and its relationships for you to feel that way?
Ask others those same two questions in private, and listen carefully
to what the respondents tell you.
Rating:
Summary: At last . . . a business book with a focus on people
Review: If you can run a successful lemonade stand, according to the basic premise of this book, then you probably have the basic skills to succeed even when facing the toughest competition in modern business. Most business advice books offer the equivalent of a coach saying, "It's easy to win a race, just run faster than anyone else." Mitchell and Coles do far more than offer simple and obvious advice; they emphasize it's not what you think, it's how you think that makes the difference. There is no end of books stressing customer service. This book says it's how you think of customer service that makes the difference -- if you want to sell lemonade, let customers add your own sugar, offer lemon slices to those who want a tarter drink, keep the noise down so you don't bother the neighbors, don't block the street, plus other common sense approaches. Let me cite a personal example. Recently, in addition to a Big Mac, I wanted a McDonald's ice cream cone. The counter person asked what flavor, and I replied that any flavor would be fine. My response didn't fit the McDonald's program. Instead of picking a flavor, the counter person became very loud and very rude in insisting that I name a flavor. Finally, a mananger intervened and I was handed a chocolate ice cream cone -- which was perfect, though I didn't know ahead of time what flavor I wanted. The McDonalds' clerk was too intent on following a pre-set McDonalds script. The point Mitchell and Coles stress is listening to the customer and responding, as much as is feasible within your resources, to whatever the customer wants. Sounds simple, right? Sadly, all too many companies -- from hamburger stands to multi-national corporations, have rigid "customer satisfaction" rules that are marvelous creations of corporate ingenuity but sometimes have little to do with customer satisfaction. If you can think of what customers want in terms of a kids' lemonade stand, then you're on the way to knowing how to satisfy customer wants in any business. Simple? Okay, why hasn't he multi-national McDonalds hasn't figured it out? When I said "any flavor," the response should have been, "Here, we hope you enjoy this flavor." Instead, I got an argument. Most business advice books offer theories, or case studies. This book takes a different approach, asking again and again, "What would you do? How would you feel? What would you like?" It explains how a variety of companies satisfy these interests. In the book 'The Art of Advertising,' George Lois states, "The business world worships mediocrity. Officially we revere free enterprise, initiative and individuality. Unofficially we fear it." In contrast, Mitchell and Coles fear conformity and lack of imagination; they welcome and praise the originality of ordinary customers. Okay, who is a typical customer? Unless you're the pilot of a rent-a-jet, most customers are average people -- not corporate executives. When you read this book's story of "Mike the barber" at Harvard University you get a full appreciation of an ordinary man who became one of the school's most distinguished alumni -- despite never having taken a class or ever working for the university. When I read the jacket blurbs praising this book, I was disappointed. They all talked of "business model innovation" and "business planning" and "business basics" and other such jargon. In my experience, every book offers such advice. What makes this one different and valuable is its focus on ordinary customers and how understanding them relates to success. Granted, Harvard Business Review is a wonderful journal. It speaks eloquently of business plans and corporate strategies and executive insights. It is a masterful offering of even the most arcane and exotic business theories. "The Ultimate Competitive Advantage" is better. It talks about the real people who make real businesses work. It emphasizes how you think is more effective than merely knowing what to think about textbook formulas.
Rating: 
Summary: Sound advice for a challenging business climate
Review: I have to admit I'm a sucker for books like "The Ultimate Competitive Advantage." Authors Mitchell and Coles join the increasing chorus of business analysts who recognize that the world just ain't the same anymore. Classic MBA-style strategies, number-crunching ivory tower financial models, and marketing campaigns that lump customers into a faceless mass don't and won't cut the mustard in the 21st century. Unpredictability is the new name of the game. Lightness of feet is the way of success. Constant dialogue with line workers and customers puts light on the path. Stultified business models are doomed to failure. And that's exactly why Mitchell and Coles wrote "The Ultimate Competitive Advantage." In their work with some of the nation's most successful companies, they observed that those able to rapidly shift and adjust their business models flourished. As they say in their preface, Mitchell and Coles hope to spur companies to "develop and implement a superior management process that continually improves an organization's business model--its ways of serving customers and outperforming competitors--as well as fairly and appropriately rewarding all stakeholders." And with that, they had me in the palms of their hands. Mitchell and Coles aren't proposing a cold-hearted cutthroat strategy for success at any cost. Not all all. Instead, their research demonstrates that staying in close contact with *every* stakeholder (customers, stockholders, vendors, workers) and then adjusting one's business model to bring the greatest potential benefits to them leads to prosperity. Consider some of these chapter titles: "Increase Value Without Raising Prices and Costs." "Eliminate Costs That Reduce Customer and End-User Benefits." "Share Beneifts Fairly With All Who Create Them." "Expand the Benefits You Provide and Share." Mitchell and Coles propose a humane business approach that flies in the face of the usual piratical pursuit of profits. They recognize that the way to profit is by meeting the needs of people--and that doing so demands companies that can quickly shift their business model to adjust to the rapidly changing needs and desires of its stakeholders. It's to their credit that the authors present this revolutionary approach without the wild-eyed enthusiasm of other observers like Tom Peters (whose stuff I love). Instead, they lay the facts before us with numerous case studies and examples that illustrate their discoveries. The reader comes away with confidence that Mitchell and Coles are right on the money. If I was to quibble with "The Ultimate Competitive Advantage," it is because the book seems primarily directed to those who run large businesses and corporations. There's nothing wrong with that--but it does leave small business entrepreneurs like myself a little bit behind in the dust. It takes some "translation" to bring the case studies and examples to bear on the challenges we face daily. Happily, Mitchell and Coles provide a marvelous learning aid by applying their ideas to a fictional sidewalk lemonade stand. I can't tell you how many "Aha!" moments those brought me. There's something for everyone in "The Ultimate Competitive Advantage." If you're a business owner, a CEO or head of any organization, you'll find plenty to consider in this fine book.
Rating:
Summary: ADD THIS ONE TO YOUR PERSONAL BUSINESS LIBRARY NOW!
Review: FOR TOP CEO'S, ENTREPENEURS, SERIOUS BUSINESS STUDENTS, AND WISE VALUE INVESTORS As a "value investor" who is interested in buying only the shares of America's finest companies, I was attracted to this excellent book. While the current best-seller "Good to Great" deals with some of the traditional big name companies like Coke and Gillette, this book has uncovered some interesting gems like Clear Channel Communications, Goldcorp, and Paychex to name a few. For me there isn't a whole lot of value in reading any more about the triumphs of Microsoft, General Electric, Home Depot, Dell Computer, Intel and the like. What's the advantage of knowing this? (Unless you already own the stock and need justification for holding on to them) What makes this book so special is its emphasis on up-to-date strategies, mostly those of companies since 1992. The best companies that are featured in this book did not have the advantages of massive market share from previous eras. Instead they relied on constant and never-ending improvement on their business model in the ever changing global markets. If you want to learn something new about how these companies outperform their competition, then this book will give you the answers for now and in the future. This book fills in the gaps that "Good to Great" misses out on. I'd recommend any serious student of business, CEO, or value investor, to buy both "Good to Great" and "The Ultimate Competitive Advantage." But this one, while not being as well known, may be much more valuable for your own future.
Rating:
Summary: Medicine for Beauracracy and Help for Start-ups
Review: This book is written primarily for those businesses that are either stuck in the mud or just starting out. The author's main idea revolves around innovation, claiming that this is the secret to a thriving business (and I won't disagree with that). Providing numerous ideas and concepts to get the synaptic response working, only a dullard can not find some idea that they can modify for, not directly copy for, their own business model. Balancing a fine line between being too aggressive and not aggressive enough, I really think the reader will have to discover how much or how little based on their own circumstance, this book is not a magic bullet, but not a bad starting point. The most innovative point, not necessarily "new", is the constant reminder to think beyond your immediate customer and consider how you can make your customer a better supplier to theirs. This is discussed in a very understandable manner. Scenario planning (a really great tool) is implied throughout the text and the Shell organization I think should be credited with bringing these concepts to the forefront, if not inventing it, I'm surprised they were not one of the subjects. There is one point I disagree with, but not vehemently. I don't think that a person can learn to be innovative (I think this is implied). The best I believe can be achieved is that person can learn not to stop those that are. To their credit, the authors do address this. At times the reading is rather slow, but not hard. So my suggestion is to start with chapter 1 (don't laugh it starts on page 61), my reason is that forewords written by CEO's whom are praised in the main body are not exactly unbiased and the prologue is comprised of brief company biographies that don't provide much to the main point of the reading. I do give credit for a well-balanced approach for all aspects of the business model and accountants should learn well and remember that people make the numbers, not computers. I do wish there would have been more time spent on employee motivation factors, I just think they are overly neglected in most businesses, but they are at least discussed.
Rating:
Summary: The Ultimate Competitive Advantage
Review: The Ultimate Competitive Advantage is a book that every business could benefit from. It features companies who explored new areas to serve their customers and met the market demand head on. The author gives the business person a wellspring of ideas for faster productivity, more competitive prices and innovation as the by-word, with examples of specific companies, charting how their business grew. Paycheck from payroll to complete office management, down to bookstore reading lounge, coffee/snack bar.
A good and profitable read.
Rating:
Summary: Working in the Church
Review: I was a bit skeptical to read The Ultimate Competitive Advantage, given that my sector was the very much non-profit church. Jim Collin's "Good to Great" and John Maxwells slew of leadership materials did just fine in motivating my staff for excellence. Just fine, that is, until I read Mitchell's book. The Ultimate Competitive Advantage goes beyond "Good to Great" to stress the need for a culture of innovation. A great read for every pastor looking to keep his church relevant, and his staff on the cutting edge.
Rating:
Summary: Important. Inspired. Innovative.
Review: Moore's Law famously predicts the quantitative doubling of microprocessor power every 18 months, a curve Intel has profitably exploited. Less well know is that with every 10X increase in power (every 3-4 years), there is a qualitative change in the applications for that power. For example, microprocessors have gone from mainframes, to personal computers, to Palm Pilots, to cameras, to cellphones over the years, every time expanding their business impact and societal relevance. In this volume, Mitchell and Coles do nothing less than teach business executives how to voluntarily invoke these same dynamics at the busines level to profitably expand the impact and relevance of their enterprises. Mitchell and Coles aim to establish the princiciples of business model innovation as a practice for continuing competitive advantage. They succeed in this mission stupendously. Integrating the principle of innovation outlined in the E-myth, the quest for total solutions expounded in Davidow's Marketing High Technology, the low-cost primacy Ries' Focus, and the systems economics perspective of The Profit Zone, Mitchell and Coles present a singular, integrated practice and paradigm for strategic management. Surprisingly, this method works best when it is deeply rooted in the organization's core values and service orientation. The book is not without its faults; in particular, it does not get into full swing for several dozen pages. But once it does, the writing can be truly inspired and practical to boot: I have already started applying its principles to my consulting practice. I heartily recommend this book to those who insist on business impact and thrive on customer satisfaction.
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