Number 10 on the ‘The 10 Things Google knows to be true’ list is ‘Great just isn’t good enough’.
In theory, we should be able to use any company as an example here… but it’s quite clear that it is not the case.
Many companies don’t need to be any better than great, specifically in industries where competition is not as rampant as others.
Companies should constantly aim to improve every aspect of their business, ensure a high level of customer satisfaction and foster innovation within the organization to make sure they stay ahead of their competition.
A great example here is the technology companies and the ‘e-book war’.
Brad Stone from Blomberg Business week explains that most competitors inevitably fail.
Technology is a whole different story to other industries because the competition is so extreme. There is a lot of risk involved.
These companies spend millions of dollars developing new products where a competitor could release something similar and take all of the customers purely because of one additional perk.
In early 2010 Ben Parr from Mashable Business wrote about Apple and Amazon’s e-book war. Being ‘Earth’s largest bookstore’, it was obvious that Amazon’s Kindle would be a raging success. Then Apple released the ipad.
“Before the iPad was revealed, Amazon was the only player in the game. The Kindle and the iPad offer different experiences. The Kindle’s battery life and e-ink are strong sellingpoints for the device as a reader, but the iPad offers so much more”, Mr. Parr said.
Last week Amazon intensified the competition by unveiling it’s newest e-book device, the Kindle Fire.
Doug Gross from CNN argues that now we may finally have a real tablet war on our hands.
“Instead of crafting an iPad carbon copy and asking consumers to choose between them, they’ve pushed out a stripped-down and simplified device that sells for much less than the iPad 2”, Mr. Gross said.
In an industry where it seems there are endless possibilities, it is necessary to constantly evolve and it is obvious that great just isn’t good enough to ensure your position as a genuine competitor.
We are interested to hear what you think. With the sad loss of the inspirational Steve Jobs last week, will Apple continue to be the industry leader?