meet customer needs to get ahead of the pack

 
A blog entry in HBR today outlines three questions companies need to ask themselves to see if they are heading the right direction, that towards the head of the pack. Unsurprisingly question no 1 is: '

• Would you say your company is becoming more effective at meeting customer needs?'

It is not 'is your company effective at selling more?', or even 'is your company effective at telling your customers what they want?'. It is increasingly becoming clear, even to the MBAs, that the key success differentiator is whether companies a)understand their customers' needs and b) find innovative ways to fulfil those needs. Questions 2 and 3 continue on the themes of innovation and collaboration. They read:

• Has your company recently implemented a significant innovation campaign or launched numerous small-scale innovation pilots?
• Is your company becoming more collaborative with outside firms? 

Both these two last questions point to a kind of business that is outward looking, confident, and one that places the creation of value for its customers at the core of its strategy.