Take information technology. We have winners implementing CRM (customer relationship management systems) and losers implementing CRM. What mattered in technology is that the technology actually drives either cost reduction or superior strategy execution.

Quality that significantly exceeds the customer's expectations doesn't seem to pay off. This 'delight the customer' stuff isn't rewarding. One has to be careful about delighting customers too often, because it sort of reshapes customer expectations.

Customers are enormously punishing when companies don't meet their expectations.

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