The Five Most Important Questions You Will Ever Ask of Your Organization
by Peter Drucker with Jim Collins, Philip Kotler, James Kouzes, Judith Rodin, V Kasturi Rangan, and Frances Hesselbein
This short book takes the five questions originally posed to non-profits by management guru Peter Drucker, and marries it with essays from today’s thought management leadership, and marketing leaders to produce a simple-yet-forceful exercise for all organizations.
What is our mission? It should be based on the purpose, competencies and commitment of the organization. Jim Collins suggests that while the core of the mission remains unchanged and guides its people, it must give the organization room to constantly stimulate improvement and innovation.
Who is our customer? It helps us understand our target and supporting customers and how they will change over time. Philip Kotler stresses the need to develop intimate relationships with only these target customers and please them deeply.
What does the customer value? Organizations often believe that they know what their customers value and often neglect the customer perspectives of value received. Jim Kouzes urges organizations to listen intently to customers and challenge the ‘business as usual’ philosophy to create exceptional value for its customers.
What are our results? Results define the organization’s measures short term accomplishments as well as long term change. Judith Rodin further advises that if results are the goal, they must also be the test, and hence allow for midcourse corrections.
What is our plan? A plan translates the mission and goals into near-term objectives, action steps and budgets. Kasturi Rangan advocates building in continual monitoring, feedback and learning elements for effective plans and improved strategy.
Why we like it: While seemingly simple, these questions challenge leaders to take a hard look at their organizations and uncover core-level answers for long-term success. Marketing plays a critical role of providing valuable insights on the marketplace, target customers and buying process to help create products and services that customers truly value.
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“Customer satisfaction and loyalty are related but different. Customers are satisfied when their needs and expectations are met. Customers are loyal when they buy again, and have a strong commitment based on rational and emotional ties. While satisfaction is necessary, it is not sufficient for true loyalty. A loyal customer is created by eliminating causes of dissatisfaction and then delighting customers by exceeding expectations for relationship-building factors that matter. “
— Ken Powaga, American Marketing Association
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