Rating: 
Summary: Getting to the top the ethical way.
Review: John Ruskin, the 19th Century English man of letters, believed that any business deal that isn't beneficial to both parties is not business but trickery. In this book Donald Wayne Mitchell outlines ways to take your business to the top by creating (and subsequently adapting) business models that benefit all stakeholders in the business. His term "stakeholders" includes more than just shareholders and customers. In Mitchell's vision, end users, employees, partners, suppliers, distributors, lenders and communities in which the business operates (so important!) must all be taken into consideration. You can think of this book as presenting an ecology of the business world, in which your particular "organism" must learn to survive and prosper. And just as in ecosystems competition is one driver of evolution, so also in business. That idea is old hat, and business people have never seemed to tire of the adage "survival of the fittest." However, organisms that can cooperate compete even better than those that work alone. This works for companies as well, where a focus on working with and helping others enhances one's own strength. Furthermore, organisms that cannot adapt will not ultimately survive, as the living world is in constant flux. The same is true in the business world, where using the same business model year after year is a prescription for extinction. Mitchell effectively shows how to work with both of these concepts. Using many examples from real life businesses, he demonstrates how to build relationships -- but not by focusing on the usual manipulative Dale Carnegie type techniques (many of which were subsequently appropriated by the CIA for use in interrogations, by the way). Rather, Mitchell's way is to put yourself in the other person's shoes in order to figure out what that person needs. For instance, if you can figure out how to help your customers access more customers, you can build more business for yourself as well as for those to whom you sell. As for continuously adapting your business model to reflect changing conditions, Mitchell warns that this has little to do with simply implementing new technology. Rather, it's about constantly monitoring and changing how you do business. He concedes it's a challenge and can be expensive. Using a detailed list of steps he walks the reader through the necessary phases -- from idea generation to testing to execution -- and then expands on those with excellent examples from businesses which he has studied. In order to write this book, Mitchell and his associates studied businesses of many types and sizes and interviewed what must have been hundreds of managers and CEOs. The material is well organized and presented in workbook style, with questions for thought at the end of each section. The order of presentation is clear and logical, which makes the reading understandable even for someone (like me) who doesn't have an MBA. But what I value most about this book are the positive principles it encourages. Especially in the current corporate atmosphere, we need more CEOs and managers who are willing to live by words such as "avoid business models that harm more than help any stakeholder," and "Treat all stakeholders as considerately as you would a customer whom you could not afford to lose." Brilliant! With more teachings like these, perhaps we really will be able to look forward to an era in which prosperity and responsible, mindful business practices help to create a world which meets the needs of all its inhabitants.
Rating:
Summary: Wonderful book connecting values and competitive advantage
Review: Donald Mitchell and Carol Coles are extremely capable observers, researchers and consultant-teachers not only of business practice but also of performance possibility. They are also wonderfully easy to read authors with something to say. Their most recent work adds to their publishing tradition in both content and form. As is true with most books the only person who will not benefit from reading this one is the person who is pretty sure he has all the answers. Though I have read many books, there are few that I "own" as defined by Max DePree in Leadership Is An Art, but I plan to own this one. This book makes a very strong argument for business model innovation as one method for achieving competitive advantage and enterprise success. This argument is made even more compelling by the authors' ability to share the experiences of others through their wonderful capacity to tell stories. Well told stories can be powerfully emotional events which is why they impact us so strongly. An even more important point about stories is that research has shown that while experience is one of the most effective forms of learning, sharing stories takes us as close as possible to connecting with an experience without having actually been there. The stories these authors share are compelling and enable us to make connections between the values that we may hold and the ways in which we might design and implement our business models for the future. As a clarity and emotional connection technique, this book makes exquisite use of simile, metaphor and analogy. The authors prove in their writing that literally all life experiences provide valuable lessons for business and/or life if we will be open to them. After reading this book, you will never again feel the same about a child's lemonade stand. Experience the story of Michael Cogliandro and the impact of his personal values and practices not only on his professional career but also his on impact the rest of us. Read about Darien, Connecticut's EMT Post 53 and the potential that unusual "business" model represents not just for emergency care from an unusual source but also for a more civil society. If you are not moved by these stories and many others in the book, you have made a bad choice in reading material. I bet that will not be the case! As a business consultant I plan to use the lessons and some of the stories in this book to benefit my clients. More importantly, as a business school professor I intend to require my students not only to read this book but also to conversationally discuss and "own" it.
Rating: 
Summary: Continually change to stay competitive
Review: The Ultimate Competitive Advantage If you feel that your industry or business is stuck in a rut this book might be just what you need to innovate. The one question that The Ultimate Competitive Advantage answers is "what one thing can most improve a company's growth and profitability?". The authors, Don Mitchell and Carol Coles, answer by saying "having the best process in your industry for continuing business model innovation". Their response indicates that to accomplish this innovation: 1. you must be knowledgeable about the building processes that allow you to innovate your business model over time are more important then maximizing the efficiency of your current business processes
2. you must understand of your customer's needs and how your customer's needs are changing over time
3. you must understand your industry and how your industry is changing over time
4. you must understand what products and services will be required to make profits in the future The core message of The Ultimate Competitive Advantage is "to develop and implement a superior management process that continually improves an organizations business model - its way of serving customers and outperforming competitors". Again this is interesting because the emphasis is on creating the processes that allow you to continually innovate the way you do business. One of the key ideas that stuck with me after reading this book was that business model innovation is not one time event. Nor is not something that happens two or three times over the lifetime of a business. It is something that needs to be woven into the fabric of the company. Business model innovation must be expected, looked for, sought out and processes must be set in place to insure that business model innovation occurs. So how do you continually innovate your business model? The authors list the following dimensions: 1. Understanding and following the current business model
2. Understanding and installing the next business model
3. Understanding and using a business model innovation vision
4. Ongoing design and testing of potential business model innovations This was the most interesting part of the book to me. Certainly how to accomplish an innovation is important, but installing the processes to allow business model innovation to occur on an on-going basis is the key ingredient to building and maintaining competitive advantage.
Rating:
Summary: Great Source of Ideas.
Review: Business books have only two uses - one that we purchase to read on a long flight (and never read past page 10) and those that we can use over and over to create a spark in your thinking when solving business problems. This is in the second category. It is not a true text book if that is your desire or need. It is more a long list of ways that business people have come up with to run their busineses better. I would not read it for any academic insights (Don does not even define what competitive advantage really is made up from), rather to open your mind to potential ways to break out of the everyday approaches that we feel so safe using. It's worth the investment as one of those books that you keep in reserve for when you have a deadline and need some one to tell you what may be a solution to your problem.
Rating:
Summary: Highly Recommended - Great Business Advice
Review: "The Ultimate Competitive Advantage" is an outstanding read, with a wealth of concrete ideas on making your business more profitable in our increasingly competitive economy. The authors are both accomplished business strategists and longtime advisors to C-level execs in a range of industries. Yes, you can read that in their bios, but their expertise becomes quite evident as you read the book. Regardless what business you are in, having a good business model is never enough. Your business - particularly your business model - must continuously adapt to create and leverage new opportunities for profitability. The history of American business is riddled with stories of companies with blockbuster business models that ultimately stagnate, wither, even die because they failed to adapt. That's where this book comes in. It provides an incredibly useful roadmap to improve your business model and your bottom line. "The Ultimate Competitive Advantage" covers the full spectrum of critical competitive issues - including how to gain market share, take risks, reduce operating and capital costs, increase return on investment, create new products and services, and increase market capitalization. It provides specific, actionable advice in all these areas (and more) and couples that advice with real-world examples from top business performers. The book is well organized and the writing is clear and concise, all making for an informative and enjoyable read. Highly recommended, particularly for senior and mid-level managers, aspiring entrepreneurs, consultants, and business students.
Rating:
Summary: Interesting look at the need for business reinvention
Review: The Ultimate Competitive Advantage offers a simple and fresh idea to show companies how to stay innovative: constantly review and update their business models to adapt to new circumstances that arise in the business place. While this is not rocket science, the reality is that just as many generals fight the last war, many organizations rest on their previous laurels and past successes. The book has scores of case studies that constantly reiterate the necessity for business to constantly reinvent themselves. These case studies cover a broad range of industries that make the book relevant for every business sector. While some of the case studies are hard to replicate, such as that of Michael Cogliandro, the barber and philosopher of Harvard University, and the story of thte golf caddy; the underlying message is clear; new business models are required to sustain a business. The book is written in a user-friendly format and is quite readable. Overall, the book offers help to anyone business person looking to improve their chances for success.
Rating:
Summary: Refreshing perspective of competitive advantages
Review: The Ultimate Competitive Advantage provides a refreshing perspective of how organizations achieve & sustain their competitive advantages. Although the book does not contain any detail management framework (such as the ones developed by Michael Porter), it utilizes a wide spectrum of vivid examples to illustrate how organizations constantly & innovatively transform their business models to achieve sustainable competitive advantages. The book has strong content supported by a concise writing style. It is highly provocative.
Rating:
Summary: Even beneficial small companies and nonprofits!
Review: What does a Las Vegas casino, Peter Drucker, and Huffy have in common? Or how about Frank Lloyd Wright, Habitat for Humanity International, and a gold mining company? According to Donald Mitchell and Carol Coles, all six have successfully implemented multiple business model innovations. They use these, and dozens of other companies, to argue that the ultimate competitive advantage today is continual business model innovation. Mitchell and Coles begin The Ultimate Competitive Advantage with some bold claims about the relevance of their work. Daring statements like "This is the book we've always wanted...but could never find" and "There have been many studies of 'strategic best practices,' but none quite like or as significant to you as what you are about to read here" fill the opening pages of the book. These initially turned me off, but after reading The Ultimate Competitive Advantage, I believe these claims have merit. The Ultimate Competitive Advantage is based on years of research done by Mitchell and Coles and their firm, particularly since 1992. They claim this research, which includes the recession of the recent years, is more real-time than the works of others that amount to a backward look at past successes. As they examined the companies that repeatedly met their criteria, they noticed many had undergone one or more major business innovations. They then investigated other public companies that had undergone at least two successful business innovations during the same period. Mitchell and Coles used the themes from this investigation to look for smaller companies and nonprofits that exhibited similar characteristics and personally followed up with dozens of organizations. The fruit of all their research is a very readable book that is suitable for leaders in practically any organization. I found myself enthralled by the real life examples given throughout the book. Even the "key questions" at the end of the chapters captured my attention. I usually skip over these because they often feel like an excuse to fill up more pages. But in The Ultimate Competitive Advantage, I found myself torn between wanting to move on to the next chapter and wanting to stop to work through these end-of-chapter questions. An eminently practical and readable guide, The Ultimate Competitive Advantage is full of unexpected twists on ideas and concepts. The authors even weave a lemonade stand business through the various stages of the book! Toward the end of the book, Mitchell and Coles state, "When a paved road becomes a muddy track appearing to lead nowhere, you should realize you may have taken a wrong turn." If you're in leadership of a company, a start-up, or a nonprofit and the once well paved road to organizational success is looking muddy, do yourself a favor and read this book. And if your road still looks paved, reading The Ultimate Competitive Advantage may be a good bit of preventative medicine to jump start your thinking and keep you moving along.
CONTENTS:
Foreword by B. Thomas Golisano
Foreword by Robert B. Knutson
Preface Introduction: Build Market Leadership and Prosperity
Prologue: Profiles in Business Model Innovation PART ONE: The Most Productive Areas for Business Model Innovation
Chapter 1: Increase Value Without Raising Prices and Costs
Chapter 2: Adjust Prices to Increase Sales Profitably
Chapter 3: Eliminate Costs That Reduce Customer and End-User Benefits PART TWO: Provide Sustained Benefits for All Stakeholders
Chapter 4: Further Improve Your Business Model and Build a Buffer for Lean Times
Chapter 5: Share Benefits Fairly with All Who Create Them PART THREE: Expand Business Model Innovation
Chapter 6: Start Business Model Innovation Ahead of Competitors and Stay Focused
Chapter 7: Enhance Your Organization's Ongoing Business Model Innovation Capability PART FOUR: Pursue Higher-Potential Business Model Improvement
Chapter 8: Focus on the Areas of Highest Potential Growth
Chapter 9: Expand the Benefits You Provide and Share Epilogue: Greater and Longer Lasting Benefits
Notes
Acknowledgements
Index
About the Authors
Rating:
Summary: A book worth reading, again and again!
Review: Berrett-Koehler is one of the few publishers that has managed to create a brand name which commands respect. A continuous stream of excellent books is the reason. Yet, even amongst such exalted company, "The Ultimate Competitive Advantage" stands out. A word of warning though. For some reason this book has attracted reviewers given to writing long, ponderous, and boring reviews. The book itself is the exact opposite. T.U.C.A. combines exciting ideas, great illustrations and is well written. In short, an easy, entertaining, worthwhile read. Buy this book, rip out any one of the nine chapters, throw away the other eight, and you'll have more than your money's worth. T.U.C.A. is both a primer and graduate doctoral course, on how best to reinvent organizations so as to better serve all ---- particularly customers. This book will find a ready market in large organizations, which frankly won't be around long if they don't take the message to heart. And this book applies equally as well to mom and pop shops. The story of Ray Hughes, golf caddy, formerly of the Isle of Man, is an early illustration and a powerful example that the lessons of T.U.C.A. are applicable to all. The stories, the illustrations, are fabulous. Donald Mitchell and Carol Coles have raised the bar. Congratulations! And now I'm going to bow out of here before I also become too long and ponderous. Besides, I'm busy. I've got to order copies for my management team, and I won't have to insist they read it. All I need to do is open it under their nose, let them have one glance, and they'll be hooked. I'm sure it will be the best investment I've ever made! Oh, by the way, if you happen to be a competitor of ours, please ignore the above.
Rating:
Summary: Down to Earth Advice, A Sure Winner
Review: This book was a real pleasure to read. Given my lack of expertise in the area of business strategy, I was amazed at how well Mitchell was able to demystify business models for the average reader like myself. Mitchell gives numerous examples (all of them generous in length) of how different people were able to continually come up with different business models to stay ahead of the curve. Most of them you would not expect to find in this type of book (including a description of how a golf caddy was able to innovate numerous business models and found a successful business). And perhaps nothing exemplifies how well Mitchell can communicate business model innovation than his story of how a hypothetical lemonade stand continually redefined itself to stay ahead of the curve. Certainly this anecdote should become a classic for future business students. In any case, it is these types of anecdotes that make this book so accessible and leave one feeling that even you could come up with fantastic business models.
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