Concentrated Knowledgeª for the Busy Executive ¥ www.summary.com Vol. 23, No. 11 (3 parts) Part 3, November 2001 ¥ Order # 23-28 IE STRATEGIC MANAGEMENT FILE:

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The Complete Guide to Implementing CRM THE CUSTOMER DIFFERENTIAL THE SUMMARY IN BRIEF One company took 12 months and 12 employees to institute a data warehousing project as part of a corporate-wide customer relationship man- agement (CRM) effort, without any appreciable results. Another company By Melinda Nykamp was stymied by the incredible complexities of the processes needed in its CRM effort and had to put the effort on hold almost a year before the right data collection and storage systems were in place. Any company that has CONTENTS begun to implement a CRM plan knows it can be a time-consuming task Defining Customer involving a multitude of business processes and infrastructure dependen- Relationship Management cies; much broader organizational change than initially thought; and exten- Pages 2, 3 sive learning of customer-centric and data-driven marketing concepts. CRM: An Integrated Nevertheless, although it might be easy to dismiss CRM as just another Approach management fad, there are some compelling reasons to take another look at Page 3 this trend. CRM Requires Complete First, customers — aided by the technology of the Internet, in particular Transformation — have much more power and influence than ever before. Customers today Of the Company Pages 3, 4 have higher expectations on service, price and delivery. Second, advances in computer systems are giving companies the ability The Case for CRM to collect and analyze specific, up-to-the-minute customer data. Page 4 In this summary, you will learn how to transform the five fundamental Implementing CRM areas of your company — business focus, organizational structure, business Pages 5, 6 metrics, customer interactions and technology — from a production orienta- CRM and Technology tion to a customer-focused orientation. Page 6 You will also learn how to: Internal Development vs. ✓ Recognize the four stages of CRM. Outsourcing Page 6 ✓ Measure the effectiveness of your CRM program. Changing Your Metrics ✓ Calculate the ROI of CRM. Pages 6, 7, 8 ✓ Identify barriers to successful CRM implementation. The Lifetime Value The Customer Differential is about differentiating your company by Of Your Customer meeting the stringent expectations of today’s customers. Page 7 Here’s how. Measuring the ROI of CRM Page 8 Published by Soundview Executive Book Summaries, 10 LaCrue Avenue, Concordville, Pennsylvania 19331 USA ©2001 Soundview Executive Book Summaries ¥ All rights reserved. Reproduction in whole or part is prohibited. THE CUSTOMER DIFFERENTIAL by Melinda Nykamp — THE COMPLETE SUMMARY Defining Customer To have a successful relationship with customers, you must understand what services are important to your Relationship Management customers, which products they want to buy and how Although the term “customer relationship manage- and when they prefer to interact with you (e-mail, direct ment” (CRM) is often equated with the old saying, “the mail, telephone, in-person). You can gather this infor- customer is always right,” it is much broader. True CRM mation in the following ways: is a revolutionary, enterprise-wide refocusing of how you ● Perform Customer Profiling. Gather demographic develop and maintain dialogues with your customers. It and geographic information for consumers; for busi- requires a careful focus on providing the best value to nesses, gather information such as number of employees your customers based on how you communicate with and company revenues. them, how you market to them and what levels of serv- ● Segment Customer Groups. This is a practical ice you can provide—without forgetting the traditional place to begin one-to-one marketing. Identify unique areas of product, price, promotion and distribution. groups of customers through similar characteristics rela- Most important, CRM is not just a technology solu- tive to the purchase and use of your products. As you tion. While the Internet and other advances in technolo- continue to narrow segments of customers, you get clos- gies have enabled companies to obtain vast amounts of er to actual one-to-one marketing. customer data, these same technologies also have given ● Conduct Primary Research. You gain insight into more power to consumers, who now demand much your customers’ needs and attitudes toward your compa- higher levels of service, greater choice in product fea- ny’s products and services and about your organization tures and the lowest prices. Businesses need to know as a whole. which data are the most important to collect and how to ● Rank Each Customer’s Value to Your Company. best assimilate and utilize this information while at the No customer is created equal. Using the type of infor- same time providing personal “mass customization” to mation listed here, you can more specifically identify individual customers. This new paradigm calls for a which customers or groups of customers offer the most new way of looking at and interacting with customers. profitability for your company. Four Stages of the CRM Process Develop and Customize CRM is a continual process that involves four inter- In the product-oriented 20th century, manufacturers linked stages: built products, defined distribution networks and then 1. Acquire and Retain. searched for customers. In the customer-focused 21st 2. Understand and Differentiate. century, companies must let the customer drive the 3. Develop and Customize. choice of product and distribution channel. The most 4. Interact and Deliver. successful organizations are those that base products As this process evolves, you will be able to add levels (continued on page 3) of sophistication to your customer strategies. This ongo- ing, enterprise-wide effort yields unique sustainable competitive advantages that can help increase customer loyalty that will improve your company’s bottom line. The author: Melinda Nykamp is the founder, president and CEO of Nykamp Consulting Group, a professional Understand and Differentiate services firm with offices throughout North America. Although business starts with the acquisition of cus- Copyright© 2001 by Melinda Nykamp. Summarized by tomers, any successful CRM initiative is dependent on a permission of the publisher, AMACOM, 1601 Broadway, solid understanding of customers. Therefore, the first New York, NY. 212 pages. $25.00. 0-8144-0622-X. stage of the continual process that we will examine is how to understand and differentiate customers.

Published by Soundview Executive Book Summaries (ISSN 0747-2196), 10 LaCrue Avenue, Concordville, PA 19331 USA, a division of Concentrated Knowledge Corporation. Publisher, George Y. Clement. V. P. Publications, Maureen L. Solon. Editor-in-Chief, Christopher G. Murray. Published monthly. Subscriptions: $195 per year in U.S., Canada & Mexico, and $275 to all other countries. Periodicals postage paid at Concordville, PA and additional offices. Postmaster: Send address changes to Soundview, 10 LaCrue Avenue, Concordville, PA 19331. Copyright © 2001 by Soundview Executive Book Summaries. Available formats: Summaries are available in print, audio and electronic formats. To subscribe, call us at 1-800-521-1227 (1-610-558-9495 outside U.S. & Canada), or order on the Internet at www.summary.com. Multiple-subscription discounts and Corporate Site Licenses are also available. Soundview Executive Book Summaries¨ 2 The Customer Differential — SUMMARY Defining Customer Relationship Management CRM: (continued from page 2) An Integrated Approach and services and distribution channels on customer ✓ CRM is not exclusively a marketing initiative. But needs and wants. CRM can involve customer-facing and data-driven For example, financial services providers now offer marketing and can result in more effective market- ATM and electronic banking, which benefits both the ing campaigns. provider and the customer. In the travel industry, wire- ✓ CRM is not exclusively a sales initiative. Sales is less-based reservations and electronic ticketing offer just one piece of the CRM puzzle, and a CRM customers flexibility. focus can improve sales strategies, account man- Interact and Deliver agement and SFA efforts. ✓ CRM is not exclusively a service initiative. Rather, Companies now have many different customer touch- service is merely one functional area of a CRM points—from retail stores to catalogs to Web sites — effort. and creating a common look and feel and assuring supe- ✓ rior service at each site is an essential step in CRM. CRM is not exclusively a technology initiative. Most of these touchpoints have been built around the While IT and IS are big parts of CRM, it is impor- tant to remember that they are simply the tools concept of efficiency for the company, not for creating that allow a company to focus more narrowly on two-way interaction with customers. In fact, although its customers. the term “interactive” is usually associated with online initiatives, most Web sites are less interactive than a bricks-and-mortar store staffed by salespeople. To foster relationships with customers at the various CRM Requires Complete customer touchpoints, companies must make sure: Transformation of the Company ● that all departments have ready access to relevant CRM is an enterprise-wide effort, involving nothing customer information; and less than the transformation of your company from the ● that all employees are trained how to use this infor- traditional product/transaction orientation to a customer- mation. focused orientation. Specifically, CRM requires the Provide them with frameworks (step-by-step scripts, if transformation of your company’s business focus, orga- necessary) for identifying and interacting with individ- nizational structure, business metrics, customer interac- ual customers and customer segments. tions and technology. The chart on page 4 outlines the Acquire and Retain stages of transformation in each of these business areas. Learn as much as you can about your most valuable Business Focus customers, then target prospects who “look like” those Moving from the old “product-focused” business valuable customers. The better you understand your approach requires a radical change that is best accom- customer, the more effective your acquisition efforts; plished by completely shifting both a company’s vision you’ll be able to choose the right channels, media, prod- and resources. This shift entails more than just trying to uct, offer, timing and message for the target prospect “redirect” customers and customer segments into existing base. plans and processes or “repackaging” existing products. Once you have acquired a new customer, you need to What is your company’s current focus? Conduct an make that person a repeat, loyal customer. By focusing audit to identify where you can become more customer- on the following three areas, you can improve your focused. Without a true, company-wide focus on antici- chances of retaining your valuable customers: pating and meeting customer needs, companies can ● Continue to provide an ongoing forum for a two- become stuck in intermediate stages, and such half- way dialogue. hearted CRM initiatives usually don’t succeed. Even though marketing and service are oriented toward cus- ● Consistently meet the customer’s definition of tomers, very often these initiatives can become overly value. tactical and operational. Similarly, with a heavy focus on ● Be alert for changes in your customer’s needs so sales, the emphasis is usually only on customer acquisi- you can modify your products or services to meet tion, not creating ongoing dialogues with customers. ■ these evolving needs. (continued on page 4) Soundview Executive Book Summaries¨ 3 The Customer Differential — SUMMARY CRM Requires Complete CRM Transformation Map Transformation Of the BUSINESS FOCUS Company (continued from page 3) Products Sales Channels Marketing Services Customers

Organizational Structure ORGANIZATIONAL STRUCTURE This area can be one of the Product Place Promotion Channel Contact Customer most difficult to transform to a Management Management Management Management Management Management customer-facing emphasis, and can be one of the major barriers BUSINESS METRICS to successful CRM implemen- Customer Product Place Program Customer Customer tation. Traditionally, companies Lifetime Value Performance Performance Performance Revenues Satisfaction have organized around products and Loyalty or regions. Transforming the entire structure of an organiza- CUSTOMER INTERACTION Individual tion requires a complete shift in Opportunistic Targeted Segment-Specific Consumer-Contact Mass Permission-Based Promotion Campaigns Communication Integration thinking for managers within Transaction Interaction all departments, and often entails adding to the existing TECHNOLOGY product line or channel struc- Transaction Data Data Data Data Customer Processing Maintenance Access Maintenance Marts Touchpoint ture, as well as hiring addition- Systems al employees. Some companies ©1999 Nykamp Consulting Group have even created “customer relationship” departments. Customer Interaction Business Metrics The ultimate goal of CRM is to initiate and maintain Today, different departments within a company usual- a back-and-forth dialogue between customers and ly measure different sets of metrics. And it is rare to employees that is individual-based rather than segment- find metrics based on customer-oriented areas. When a based. This requires a tremendous amount of integration CRM transformation is successful, you will have estab- and coordination among employees, departments and lished a way of measuring and tracking customer life- information systems. It also requires large investments time value and loyalty. The goal of CRM is therefore to of time and resources, often on an ongoing basis. blend traditional metrics (i.e., on product, place) with Technology customer value. Rather than creating silos of customer data, the key to Specifically, you must measure: successful CRM is using technology to give any 1. Product performance: The traditional “build a employee the right customer information at the right better mousetrap” ideology. touchpoint at the right time, all the time. But the tech- ■ 2. Place performance: Measuring and comparing nology itself is only a tool. productivity by regions/territories. 3. Program performance: Marketing efforts are The Case for CRM tracked by campaign. Results of successful CRM initiatives at organiza- 4. Customer revenues: Quantifying the short-term tions in various industries show that: profitability of each customer. ✓ Short-term results often can turn the opposition 5. Customer satisfaction: A first-stage attempt to around quickly. measure the quality of customers’ experiences with a ✓ What you learn from these systems tends to product or company. strengthen the data, process and functionality of a The biggest benefit of these new metrics is that you longer-term solution. gain a long-term view of how all of your customer ✓ Advanced features and functions often are not nec- touchpoints factor into overall profitability. essary.

Soundview Executive Book Summaries¨ 4 The Customer Differential — SUMMARY Implementing CRM essentials of any CRM business case include: Is your company’s current organizational structure 1. Qualifying your effort. Know the roadblocks you conducive to optimizing customer relationships? Which will face and determine which factors will help you or employee(s) will take responsibility for the CRM pro- hinder you. gram? Will your CRM project involve hiring any new 2. Identify the necessary components, and create staff, offering new training, or changes in performance separate business cases for each one. measurement or your compensation structure? 3. Project results and improvements in a context These are critical questions that must be addressed that reflects your business setting. before any CRM initiative is launched. The following 4. Gather case studies and success stories, particu- checklist is a good guide for assessing your organiza- larly from your own industry and on companies that tion’s readiness for launching a successful CRM pro- operate within similar business models. gram: 5. Create a prototype. It’s easier to prove the value Is senior management tasked with ensuring that the of a low-cost option, and it can bolster your longer-term organization understands and is meeting customers’ solution. needs? Are they responsible for seeing that the CRM The CRM Department vision and goals are understood? Microsoft, American Express, Bell South and ● Is management accountable for the P&L of cus- Hewlett-Packard have created new departments charged tomer performance and responsible for measur- with optimizing customer relationships at all points of ing and monitoring customer performance? interaction. Such CRM departments recruit staff from ● Are customer relationship responsibilities clearly all customer-facing groups and serve as liaison for defined, assigned, and understood? Are methods CRM implementation in existing functional depart- for measuring results and providing rewards ments. These firms have found that employees with established? skills in change management, customer valuation, cus- ● Are customer-centric performance standards in tomer interaction and integrated communications, cus- place at all customer touchpoints? tomer information management and training and per- ● Are all customer communications viewed as formance measurement are essential for their CRM important? departments. ● Are policies and procedures critical to managing The Customer Information Management Plan customer relationships well-documented and Another approach to presenting the value of a CRM consistent across all customer touchpoints? plan is to develop a Customer Information Management ● Are customer-critical functions staffed with well- Plan. Typically, this should address: Where and how to trained, motivated employees? efficiently collect customer data, and how to transform these data into meaningful, practical information. You ● Is employee performance measured and reward- ed based on meeting customer needs? (continued on page 6) ● Does your company have the necessary sales and marketing expertise and resources? CRM Hurdles ● Does your company have the necessary service Lack of Planning is the number one reason CRM and technical resources and expertise? initiatives fail. Therefore, be ready to sustain an ● Have you addressed how you will continue to aggressive effort that spans departmental boundaries allow the CRM program to evolve and expand? and reaches into all functional areas of the firm. Overdoing Planning also can cause CRM efforts to Building the Case for CRM stagnate. Plan to start small and keep it simple at first. As budgets for IT equipment (a part of most CRM ini- It Takes Time to reap the results, but it is worth the tiatives) have tightened over the years, it is important to wait. Don’t think of CRM as just a buzzword or “theory clearly identify the cost benefits and increased effective- of the month.” The combination of today’s increased ness that CRM offers. Development and implementation customer expectations and rapidly advancing technol- of CRM is particularly challenging not only because of ogy, if handled consistently with a CRM focus, can the time and money it involves but because you may need provide you with significant, sustainable competitive to upset deeply entrenched systems and processes and differentiation—The Customer Differential. coordinate disparate departments and divisions. The Soundview Executive Book Summaries¨ 5 The Customer Differential — SUMMARY

Implementing CRM (continued from page 5) Internal Development may want to consolidate information into an account or vs. Outsourcing household basis, into monthly transaction summaries, or In deciding whether to build your CRM technology linked to regional sales territories. You will need to sug- in house or to outsource, consider the following: gest a method to readily distribute customer information ✓ Solution Scope. Make sure you know exactly throughout your organization. what you want to accomplish — from something as There are five stages to creating a Customer simple as outbound e-mail capability or as sophisticat- Information Management Plan: ed as multichannel integrated sales. Generally, the 1. Define where customer data is needed or could be broader the scope of your solution, the greater the utilized across your organization, and why. value in insourcing. ✓ Core Competencies. If becoming customer- 2. Conduct a customer information audit. This is focused is highly unlikely to be a strength of your IT crucial and identifies what data is gathered and how; the department, the better it is to outsource this area. quality and quantity of this data; where data is main- ✓ tained and how frequently it is updated; how this data is Time Horizon. If your goals are shorter-term, maintained and by whom. outsourcing is recommended, at least for starting a CRM effort. 3. Using your findings from steps 1 and 2, develop ✓ IT resources. If you have no internal technology a specification document that will include requirements resources, or your IT department lacks enough experi- for data, process, functionality and architecture. ence in managing customer information, outsourcing 4. Conduct a gap analysis; i.e., find out what infor- is recommended. mation you need that you are not currently collecting. 5. Define a solution that reflects your situation and Dealing with CRM System Vendors your prioritized requirements. ■ With the volatility in the IT market, there are risks of delays and product and service changes as companies merge. Longer term there may even be dangers of CRM and Technology monopolistic pricing. However, the bright side of the The ideal CRM system includes operational and ana- continuing M&A activity in the IT sector could mean lytical, online and offline offerings in the following cat- improved products and services as well as the possibili- egories: ty in the future of “one-stop” shopping as opposed to ● Customer databases the many niche players now selling in this market. ● Marketing applications Be sure you document the details of both your inter- ● Data mining applications nal and outsourced services. Your contracts should spec- ● Sales force automation (SFA) systems ify assignment rights, solution specifics and service lev- ● Customer care applications els. Ask the important questions, and if a vendor is hesi- tant to answer forthrightly, find another vendor. And, if ● Online applications a company you have contracted with is merged or Barriers to achieving such an integrated approach acquired with another, this may be an opportunity for include the inability—so far—to blend a speedy opera- you to renegotiate your contract. ■ tional system with the slower analytical systems. For instance, Online Transaction Processing Systems must use lean customer files for assessing real-time online Changing Your Metrics actions and reactions, while an analytical system such Because the traditional business model has been as a reporting tool, needs to sort through huge customer focused on either products or channels, these are the databases to identify trends. Another stumbling block to areas where most measures of profits originated. a total CRM application system is the distinct nature of However, none of these metrics capture a comprehen- the sales, customer service and marketing groups within sive view of customer behavior. Program performance companies. Often, these departments can have inde- metrics calculate how many leads were generated in pendent information processing systems that make it certain promotions, for example, while product-based difficult to share data. Finally, the need to integrate metrics illustrate the most profitable products, but these established businesses with e-businesses is still a learn- two findings alone don’t address customer attitudes. ing curve for most organizations. (continued on page 7) Soundview Executive Book Summaries¨ 6 The Customer Differential — SUMMARY

Changing Your Metrics (continued from page 6) The Lifetime Value Of Your Customer Customer metrics are difficult to establish, and because customer behavior is dynamic, they also need One of the key metrics in your customer scorecard to be adjusted over time. Even customer satisfaction sta- will be the estimated lifetime value (LTV) of that cus- tistics can often yield only limited information. Some tomer. LTV estimates the annual profitability over the studies, for instance, show that customer dissatisfaction expected lifetime of a customer, using net present has an inverse correlation with attrition—i.e., that cus- value financial calculations. Some calculations assume tomers who did express a level of dissatisfaction were statistics of spending, while more complicated models actually less likely to switch to a competitor. This find- include cross-purchase behavior and changes in ing could be because customers willing to participate in spending over time. a survey in the first place had some loyalty to the brand. Estimated lifetime value will tell you which cus- tomers are most valuable to your company — and Customer Scorecard which customers are just costing you money. Using a customer scorecard is a good way to begin transforming your company’s metrics. This is an itera- 5. What Has Been Our History of Interaction? tive process that involves collecting relevant customer ● Outbound marketing promotion history. data, building on your customer intelligence incremen- ● tally, and communicating results across the organiza- Outbound sales contact history. tion. ● Inbound customer-initiated queries. To build a customer scorecard, you first need to col- 6. What Has Been Our Customers’ lect the right customer data by asking the following Purchase Behavior? questions: ● Purchase dates, number of transactions, items 1. Who Are Our Customers? purchased. ● Unique customer identifier. ● Prices paid. ● Customer name. ● Channels utilized. ● Name of the customer’s organization. ● Sale vs. nonsale items. ● Department or group in which the customer ● Returns or exchanges. works. 7. What is the Customers’ Value to ● Title, role in organization, or other designation. Our Organization? 2. Where Can We Reach Our Customers? ● Revenue to date. ● Home and business addresses, phone ● Profitability to date. number(s), e-mail and fax addresses. ● Estimated lifetime value (see box above) 3. What Are Our Customers’ Key ● Estimated share of wallet. This is the percent- Characteristics? age of business a customer is giving you, ver- ● Consumer: Gender, age, household size, esti- sus your competitors. mated income, presence of children, segment ● Estimated probability of: response to specific classification. promotions, specific purchases, attrition, and ● Business: Industry classification, number of nonpayment or bad debt. employees, annual revenues, number of loca- The next step is to analyze the data that you have col- tions, role of individual in the purchase lected. Answers to the questions above should allow process. you, for example, to develop profiles of your customers, to segment the customer base according to different 4. How Do Customers Prefer to needs and behaviors, and to determine the value of dif- Interact with Us? ferent customer segments. ● Media preference (mail, e-mail, phone, fax). Once you’ve collected and analyzed the data, you can ● Channel preference (Web, retail store or create the scorecard, which is basically a snapshot of branch, salesperson, phone). your customers that can be easily communicated to your ● Opt-in or opt-out for any media or specific organization. communications. (continued on page 8) Soundview Executive Book Summaries¨ 7 The Customer Differential — SUMMARY Changing Your Metrics right time across all customer touchpoints. (continued from page 7) Customer Interactions First, decide on the segments or group of customers There are potentially hundreds of customer interaction you wish to measure. Then choose the metrics you will points in an organization. Once you’ve prioritized the put on the scorecard. Number of current customers (by most important interaction points, assess how well you segment and tenure), product penetration (percentage of are meeting customer expectations by using a Customer customers that purchased certain product categories) Interaction Scorecard. A typical Customer Interaction and current profitability are some examples of the met- Scorecard might track interaction opportunities (for rics that you will want to chart. Another key metric is example, “Customer visits our Web site three times the customer lifetime value (see box). daily) according to “past performance,” “current per- Once you decide which metrics are important, set formance,” “importance to customer relationship” and annual goals for each metric — per customer segment “improvement priority.” For each of these measure- — and compare with current performance statistics. ments, the interaction opportunity would receive a “3” Remember that your customer scorecard needs to tell for high performance, “2” for medium performance and a story by highlighting trends over time and providing “1” for low performance. comparisons by customer segment and other relevant Customer Dynamics Among All Departments criteria. ■ It is essential to link CRM efforts among all depart- ments. Each department needs to study how it can improve customer acquisition, growth and development, Measuring the ROI of CRM retention and reactivation. All CRM initiatives should You’ve implemented your CRM effort; now you need be linked to these metrics. This can be easier said than to show how this initiative has helped increase revenues, done, however, since within many organizations each decreased costs and improved your firm’s competitive department has a different way of measuring success. differentiation. How do you do this? To begin with, For example, the marketing department may be able to before you make any investment in CRM technology or show how its new targeting model has resulted in other resource, scrutinize each CRM business plan by improved customer response, without mentioning the examining its broad-scale quantification of potential firm’s investment in improving its data collection tech- return on its investment. By doing this you prioritize niques, implemented by the IT department. Different each of these initiatives. departments need to be made aware of how their efforts It is important to create organization-wide measure- affect other departments and ultimately the company’s ments of CRM success as well as establishing metrics ability to competitively differentiate itself. for measuring the progress of the CRM effort once it is implemented. Don’t just set up the program and forget Organizational Structure about it! Once you have implemented more customer-centric Specifically, you will want to measure the progress of processes in business focus and customer interactions, it the CRM effort in five interrelated areas of your busi- is common to see increased operational efficiencies as a ness: internal CRM capabilities, customer interactions, result. Some benefits realized by companies using CRM customer dynamics, operational efficiencies and busi- include cost reductions in data collection, maintenance ness metrics. or fulfillment; easier identification of fraud or other problems; and increased integration of other core busi- Internal CRM Capabilities ness processes. ■ Using best practices, continually monitor your progress with CRM methods to assure that your busi- ness focus, organizational structure, technology and Lessons Learned customer interaction capabilities are customer-centric. Here are key lessons learned by companies who Such ongoing monitoring can help spot over-investment have begun implementing enterprise-wide CRM: in some areas. Ideally, you want your business focus to 1. CRM initiatives need to be driven by business be centered on customers, your organizational structure goals and objectives. to be tailored to customer management, your metrics to 2. CRM requires aggressive, ongoing organization provide information on customer lifetime value and loy- and planning. alty, your customer interactions to be individual, per- 3. Balance planning with action. mission-based dialogues, and your information technol- 4. Stick with it! ogy to be able to deliver the right information at the Soundview Executive Book Summaries¨ 8