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Momentum Effect, The (paperback): How to Ignite Exceptional Growth Paperback – March 26, 2008
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"Momentum does offer a big unifying theory... Read and enjoy this book." - Financial Times, May 2008
"Larreche's research throws new light on age-old debates about marketing budgets and marketing effectiveness" - Marketing Week May 2008--This text refers to an out of print or unavailable edition of this title.
From the Back Cover
A few rare companies have discovered the secret to sustained high growth: momentum. They've learned how to create the conditions that lead to exceptional organic growth--which feeds on itself, continually accelerating the business forward. In "The Momentum Effect," J.C. Larreche introduces a complete framework for gaining momentum, keeping it, and harnessing its power. Drawing on new research and powerful case studies, Larreche demonstrates the stunning role of momentum in value creation. He sets out the process for developing the "power offers" that lie at the heart of this powerful force. This book offers a systematic process for creating momentum that will work in any business, in any industry, and under any market conditions. You'll learn how to create new value through a momentum strategy and build the leadership competencies to deliver highly profitable growth over the next six months...five years...even decades. -Pioneer or die: drive momentum and harness its stunning power
How momentum-powered firms create 80% more shareholder value-Understand the drivers of momentum strategy
Craft power offers, mobilize for growth, and more-Master the Momentum Process: design and execution
Eight specific steps to implement a long-term winning momentum strategy-Climb the five-step Momentum Leadership Ladder
How leaders can systematically generate and direct momentum "This book shows you how to build momentum for growth and leave your competitors trailing far in your wake!"-Sir Richard Branson "J.C. Larreche's book, "The Momentum Effect," is a must-read. It highlights why more marketing spend and further value extraction are not the key determinants for future growth. To create powerful momentum for exceptional growth, it is essential to offer innovative value to the marketplace. "The Momentum Effect "outlines just how to achieve this. The results are illuminating.--W. Chan Kim & Renee Mauborgne, Authors of Blue Ocean Strategy "How can companies achieve exceptional and sustained growth? "The Momentum Effect "explores this challenge and reveals successful strategies for originating new sources of growth and value from customers with the power to unlock great potential."--Dr. Daniel Vasella, Chairman & CEO, Novartis AG, Basel/Switzerland
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Top customer reviews
* Momentum Design
o Compelling insights that can only come from time spent with customers;
o These insights lead to compelling values by understanding the deeper human drivers;
o Compelling values lead to power offers meaning power with customers and power to generate growth;
o Power offers generate customers with compelling equity maximizing the value of customers to the firm;
* Momentum Execution
o Power offers are continuously tweaked and improved until they become irresistible;
o The delivery of the power offer leads to superior customer satisfaction what the author calls vibrant satisfaction;
o Vibrant satisfaction leads to vibrant retention and
o Vibrant engagement of the customer. Momentum companies engage customers at an emotional level to generate positive, momentum-driven action.
Each of these eight essential components of momentum strategy are described in detail and richly illustrated by real life stories from momentum companies like Wal-Mart, BMW, Skype, Apple and IKEA, to name just a few. These momentum driving components allow you to systematically harness the powerful, sustainable energy that can take your firm to the new efficiency frontier, driving the exceptional growth that will propel you into a different league. Finally, the Momentum Effect is a never ending journey, not a destination.
Jean-Claude Larreche is professor at the renowned European management school INSEAD and a consultant with leading global corporations.
THE MOMENTUM EFFECT is a joy to read and a must read for anybody who needs to excel in today's competitive world. Kai Wenk-Wolff (MBA INSEAD) is a turn-around specialist for manufacturing operations.
Applying this momentum framework as an interpretive lens to businesses reveals compelling insights. One insight is that a business with a disciplined approach to providing compelling customer value and creating vibrant customer satisfaction actually does this at a lower cost than a business not so oriented. And, of course, the kicker is the phenomenal profitable growth and value that accrues to the firm practicing the principles of momentum. Another insight is the cumulative results that come about with such a tight-knit discipline. Over time, even small advantages in cost or growth factors in the business result in tremendous leads over competitors - like the miracle of compound interest - putting a firm into a whole new arena, i.e. leaving competitors trailing in their wake.
What is particularly good about this book is the thoroughness with which a very complex subject has been addressed. Each essential idea, such as `compelling equity' or `power offering,' is explicitly defined to bring home what it means specifically to this process. Frameworks and constructs explain how to pragmatically address the essential idea in each module of the overall process. For example, there is an Insight Discovery Matrix for flushing out Compelling Insights. There is the Customer Value Map and Wedge to define what the customer perceives as value. The frameworks bring effective guidance to what are otherwise too often unstructured activities. One particularly powerful framework is the Action Roadmap to Momentum that guides the mobilization of stakeholders, detects friction and insights, and converts customers. Disciplined use of this framework, even by the most successful firms, will prevent management from falling into the traps of hubris or complacency. Essential to effective management, possible performance metrics related to each of the essential ideas are provided as well.
What I think makes the momentum approach particularly effective is that the inherently messy process of exploration is given the structure needed to manage it but, at the same time, not destroy the messiness that is essential for creativity to thrive. A vital element of exploration is the technique of iteration. The power and value of iteration is often unrecognized and untapped by impatient management. Here it is a central theme to the whole approach.
An important contribution to the discussion of business models is noting the design and execution of the firm's offering as a business model in and of itself. Larréché identifies three renditions of an offering creation business model as it has evolved over time. First is the product-focused model: develop the product, make the product, and sell the product. Next is the value-delivery model: select the value proposition, create the value, and communicate the value. These first two models are linear models. The third model, the momentum model is an iterative, interactive, and integrative model that brings the design and execution of offerings into one symbiotic relationship.
The employee momentum, the internal momentum that complements the external momentum, is addressed with the same model and principles as the one that addresses the customer. The leadership to build momentum and create synergy between customer momentum and employee momentum is also addressed. Both the employee momentum and momentum leadership are part of the overall momentum puzzle to be solved.
A lot is packed into this book. It may require some study to capture its full value. It is a valuable contribution to the art and science of management.