While there is a demand for the customer perspective, there are two areas where the demand should be inherent, yet oftentimes it’s overlooked. These are:
Corporate Development – When considering a merger & acquisition, companies often fail to invest in the single biggest and most valuable asset – the customer base.
Product Development – In the MIT Sloan Management Review article titled, "Giving Customers a Fair Hearing," authors Anthony Ulwick and Lance Bettencourt state that "… not even 5% of the companies said there was agreement within their company as to what a customer need is." They discuss how this lack of understanding impacts the innovation process.
Customer focused leadership creates a demand for the customer perspective throughout all facets of the business. Is your company leveraging the customer perspective during mergers and acquisitions due diligence and product development strategies?