What Do Customers Want?

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This document discusses what customers want from businesses and how businesses can focus on execution excellence to meet customer needs. It provides research findings on high growth companies. The main points are: 1. All customers want defect-free products and services, on-time delivery, and great caring service. 2. Successful businesses focus on what they do very well, are execution champions, and have a constant improvement culture. 3. To be successful, businesses must have customer centricity, high employee engagement, and a high performance culture. They must focus on execution excellence through processes and constant improvement.

Business Technology

What Do Customers Want? SWaMFest VI October 13, 2010 Ed Hess Professor of Business Administration Batten Executive-in-Residence Hesse@darden.virginia.edu www.EDHLTD.com

3 Research Findings 5 research projects The Organic Growth Index ( “OGI”) The Characteristics of High Organic Growers (“HOGS”) The Challenges of Managing Private Company High Growth The Myths of Growth The Risks of Growth

Working On Your Business Peter Drucker said it concisely, clearly, and compellingly: “The sole purpose of business is to serve customers.” 4

What Do Customers Want? All customers no matter what you are selling want the same 3 things: ,[object Object]

Have a CONSTANT IMPROVEMENT DNA- they get better each day7

Better, Faster, & Cheaper becomes the objectives everyday

Execution is the blocking & tackling of business

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What Do Customers Want?

1. What Do Customers Want? SWaMFest VI October 13, 2010 Ed Hess Professor of Business Administration Batten Executive-in-Residence Hesse@darden.virginia.edu www.EDHLTD.com

2. 2 The DNA of Growth

3. 3 Research Findings 5 research projects The Organic Growth Index ( “OGI”) The Characteristics of High Organic Growers (“HOGS”) The Challenges of Managing Private Company High Growth The Myths of Growth The Risks of Growth

4. Working On Your Business Peter Drucker said it concisely, clearly, and compellingly: “The sole purpose of business is to serve customers.” 4

6. On-time delivery

7. Great caring service5

9. Reliability

10. Ease of doing business

11. Responsiveness

12. Needs met6

13.

14. Are EXECUTION CHAMPIONS

15. Have a CONSTANT IMPROVEMENT DNA- they get better each day7

16.

17. Better, Faster, & Cheaper becomes the objectives everyday