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Execution
The not-so-invisible hand of global competition has seen to it that any early market lead established by a company is quickly erased. [3] Short product life cycles, competitive response, expired patents and generic substitutes all contribute to the erosion of margin and market dominance once enjoyed by domestic companies. Regardless of research and development, product development and multi-million-dollar marketing budgets, the competitive playing field gradually evens off, leaving companies to battle for supremacy in the trenches of operational execution.
It is the hypothesis of this book that while disciplines like research and development or global branding are vital to a company's success, it is the tactical follow-through in lead time rationalization, landed cost controls and inventory management that ultimately leads to financial success. While admittedly "Children of a Lesser God," these points are the life support of companies characterized by commodity-based models with little product differentiation beyond the creative license of their advertising agencies. As the visionary few labor toward what Jim Clark called "the new new thing," the rest of us are left to execute on the tactical models that will establish and prolong market dominance. This book hopefully contributes to that end.
[3]The term "visible hand of competition" was first used by Alfred Chandler of the Harvard Business School in his book The Visible Hand: The Managerial Revolution in American Business, Harvard University Press, 1977.
