s have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay valu

In a recent article, I commented that in business we don’t seek perfection, but rather profits.

So, what would be unthinkably poor quality to a chef in a four star restaurant is perfectly acceptable to a fry cook in a typical roadside cafe. The chef delicately “paints the plate” with nifty designs and the fry cook hurls them and barks out their readiness.

Most customers don’t expect, nor will they voluntarily pay for nearly flawless quality.

More often than not, they’ll agreeably embrace the get-by from one vendor, instead of seeking the best source and greatest overall value they can find.

I’m fond of a line that someone once asked me: “How is it that McDonald’s has been able to sell billions upon billions of mediocre hamburgers?”

He answered his own question with one word, “Marketing.”

That’s a little too simple, if you ask me.

Having worked in a unit of the McDonald’s corporation in my teens, my answer would be: “Systems.”

Their analysis of how to locate and manage a fast food business is exceptional, and their quality, even if you believe it’s mediocre, is standard across America and much of the world, which is a huge achievement.

You know what you’re going to get, and you can also expect cleanliness and reasonably polite treatment.

The challenge for many businesses is to deliver value in increasingly competitive circumstances. With global sourcing a reality, no longer can even smaller enterprises expect to “feed” well in their eco-systems without attracting the attention of poachers and capable adversaries.

Wal-Mart may promise “the low price, always;” but can most firms?

I doubt it. Instead of cutting price, they have to respond to competitive pressures by adding value, by doing more, being more, offering more, all the time.

My accountants have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay valu

>More often than not, they’ll agreeably embrace the get-by from one vendor, instead of seeking the best source and greatest overall value they can find.

I’m fond of a line that someone once asked me: “How is it that McDonald’s has been able to sell billions upon billions of mediocre hamburgers?”

He answered his own question with one word, “Marketing.”

That’s a little too simple, if you ask me.

Having worked in a unit of the McDonald’s corporation in my teens, my answer would be: “Systems.”

Their analysis of how to locate and manage a fast food business is exceptional, and their quality, even if you believe it’s mediocre, is standard across America and much of the world, which is a huge achievement.

You know what you’re going to get, and you can also expect cleanliness and reasonably polite treatment.

The challenge for many businesses is to deliver value in increasingly competitive circumstances. With global sourcing a reality, no longer can even smaller enterprises expect to “feed” well in their eco-systems without attracting the attention of poachers and capable adversaries.

Wal-Mart may promise “the low price, always;” but can most firms?

I doubt it. Instead of cutting price, they have to respond to competitive pressures by adding value, by doing more, being more, offering more, all the time.

My accountants have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay valu

corporation in my teens, my answer would be: “Systems.”

Their analysis of how to locate and manage a fast food business is exceptional, and their quality, even if you believe it’s mediocre, is standard across America and much of the world, which is a huge achievement.

You know what you’re going to get, and you can also expect cleanliness and reasonably polite treatment.

The challenge for many businesses is to deliver value in increasingly competitive circumstances. With global sourcing a reality, no longer can even smaller enterprises expect to “feed” well in their eco-systems without attracting the attention of poachers and capable adversaries.

Wal-Mart may promise “the low price, always;” but can most firms?

I doubt it. Instead of cutting price, they have to respond to competitive pressures by adding value, by doing more, being more, offering more, all the time.

My accountants have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay valu

mpetitive circumstances. With global sourcing a reality, no longer can even smaller enterprises expect to “feed” well in their eco-systems without attracting the attention of poachers and capable adversaries.

Wal-Mart may promise “the low price, always;” but can most firms?

I doubt it. Instead of cutting price, they have to respond to competitive pressures by adding value, by doing more, being more, offering more, all the time.

My accountants have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay valu

s have been diversifying into consulting, billing themselves as “wealth advisors.” Take it from me, they’re over their heads.

Still, they demonstrate this new reality that we must not simply offer price and bare-bones products, but add in lots of options, extended warranties and the like, to make our way in the marketplace.

And then, we have to “educate” the buyer to respect these bells and whistles and actually come to prefer them and to pay value for them.

Now, that’s marketing, and the small-fries need it a lot more than the folks at the Golden Arches.