Businesses Don’t Drive Growth; Customers Do.

Peter Drucker said, “The purpose of a business is to create and keep a customer.” While companies also exist to build wealth for owners, provide jobs for employees, etc., a company cannot survive unless it first creates value for customers.

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How the Growth Outliers Do It

I recently read “How the Growth Outliers Do It” (Harvard Business Review, Jan – Feb, 2012) by Rita Gunther McGrath, a Professor at Columbia Business School. She and her colleagues conducted research to find out what makes high growth companies different.

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Beyond Patient Satisfaction

“The key to unlocking this (growth) potential is and always has been to focus on the consumer…This is why our Category Offense is such a powerful advantage. The insights we draw from our deep consumer connections fuel our ability to create new products and services that excite and engage.”  – Mark Palmer, CEO of Nike.

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How Nike Drives Growth

As the late great former Harvard Business School marketing professor Theodore Levitt would most certainly agree, “People don’t want to buy athletic shoes and apparel. They want to become better athletes or feel like one.”

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