The Discipline of Market Leaders

This book, written by Michael Treacy and Fred Wiersema, outlines the strategies successful companies use to dominate their markets.

It emphasizes that companies cannot succeed by trying to be everything to everyone; instead, they must focus on one of three value disciplines: operational excellence (lowest prices and minimal customer problems), product leadership (best possible products), or customer intimacy (deep understanding and satisfaction of a few high-value customer niches).

The authors draw on in-depth studies and interviews with top CEOs to illustrate how companies like FedEx and Walmart have thrived by focusing on a single discipline, while others like Kodak and IBM have faltered by not doing so.