Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance

A straightforward failure to recognize a complement (NASCAP), the difficulty of predicting the timing of substitution (computers and paper), and hard-to-see second-order effects of technological change (ATMs) all contribute to the difficulty of spotting complementarities.

Are expectations of longer-term benefits reasonable?

Building capabilities—

“dial up” or “dial down” one’s career, as in Deloitte’s mass career customization program.

Smart, ambitious executives want to become better at everything. Does this remind you of your firm? Do you sit in meetings where you make long lists of products and processes to improve? The sad news is, of course, that any attempt to get better at everything virtually guarantees mediocrity—exhausted mediocrity at that. By spreading scarce resource

Making work more attractive need not be rocket science. Consult any of your staff engagement surveys. Like Quest, you will find that employees have many ideas to make their work more pleasant. Pursue the ones that also raise productivity.

Focus on outcomes, not billing codes. Significant opportunities to lower WTS often result from changes in your behavior.

“Focus on a limited set of customers” is not the most intuitive advice if you are trying to build a business that will benefit from network effects. It is nevertheless good advice. By serving a select group of users who benefit most from being

Identifying attractive opportunities to reduce WTS requires you to be familiar with the many ways in which work touches the lives of your employees. A more pleasant commute outside rush hour might be as valuable as improved work processes.