Will and Vision: How Latecomers Grow to Dominate Markets

by Gerard J. Tellis

Book Overview

A major goal of managers is to build strong brands that endure in competitive markets. Many managers assume that a primary determinant of long-term success is being a pioneer, or the first to enter a... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 007137549X
• ISBN13: 9780071375498
• Release Date: September 2001
• Publisher: McGraw-Hill Companies
• Length: 256 Pages
• Weight: 1.65 lbs.
• Dimensions: 1.3" x 6.4" x 9.3"

Customer Reviews

Early birds beware

This book comes out with a hypothesis challenging conventional thinking which assumes that pioneers dominate markets. Collecting and analyzing historical data from over 66 industry segments the conclusions by the authors is baffling. This is not a case where statistics is used conveniently to support untested theories using available tools to prove a point. The approach to understanding market dominance and the role of pioneers and followers is path breaking. Contrary to common belief, data shows that in many cases the pioneers have as little as 9 % market share. The ingredients for success are therefore not being there first, but doing the right things. Five factors that emerge as key to ensuring long term success and market dominance are Vision, Persistence, Financial Commitment, Innovation and Asset leverage- factors that are structurally related in a causal chain starting with a clear vision for a mass market. There are innumerable examples and detailed cases where the inability to see a mass market for innovative products has resulted in late comers grabbing the market from incumbents. Fear of cannibalization of existing products, bureaucracy, complacency, are some other causes that stifle growth. After explaining the hypothesis, a good and crisp summary of the conclusions from the historical data, every chapter proceeds sequentially to substantiate the findings. This is a rare combination of business history, statistical analysis and strategy. It is this unique combination and the unconventional wisdom that is bound to make this book a classic in its own right. The range of products covered varies from diapers to couriers and computers. IBM, Microsoft, Fed Ex, Xerox, Gillette are some companies that are discussed in detail. Comparing it with other books on similar research, my prescription for business would be:Innovators Dilemma + Will and Vision + Built to Last + Good to Great = Road to Market dominance. Highly recommended.

This book is UN-PUT-DOWN-ABLE

The best thing about this book is that it is written with an impeccable style that makes it easy and fascinating to read. In fact, if you are interested in innovation, pioneeering and market leadership, this book is UN-PUT-DOWN-ABLE! The amount of research that must have gone into compiling insightful commentaries on leading organizations in different industries amazed me, and interesting conclusions drawn from these observations kept me reading on till the very end.I am currently doing research in these areas and find this book full of new ideas that stimulate rethinking of traditional truisms on innovation prediction and management. I highly recommend this book!

A True Masterpiece on Managing Innovation

Marketing professors Tellis (at USC's Marshall School) and Golder (at NYU's Stern) have written a stunning masterpiece on the management of innovations. In their book, they present the findings of their decade-long research on success and failure of new products. They submit the mainstream myth "first movers grow to dominate markets" to rigorous empirical testing. They convincingly show that this common myth is wrong and that in contrast especially early followers with strong will and vision dominate today's markets. One of the main strengths of this book is the rich detail in histories of leading companies such as Microsoft, Intel and Federal Express, which Tellis and Golder use to argue their case. The combination of this rich historical detail with strong theoretical logic makes this book into a must for anyone interested in managing innovation. In this sense, it truly belongs among the classics in this domain such as Utterback and Foster. Managers in innovation management should definitely add this book to their personal libraries. Professors will also find the book to be a useful tool for executive education.

An empirical masterpiece on managing innovation!!

Based on their research on success and failure of new products, Tellis and Golder have composed a true masterpiece on managing innovation. Against the mainstream thought, they challenge the common belief that pioneers necessarily dominate markets. In contrast with this common belief, they advance that especially early followers that have strong will and vision are most successful. They do so in a style, which is easy to read and captivating. Especially the historical business stories on successful companies such as Microsoft, Intel, and Federal Express, are intruiging and offer valuable lessons in innovation management. This book is a must-read for any executive involved in innovation management!! It is also a valuable tool for professors involved in executive and MBA education on innovation and technology management.