MIT Research: Why Top Performing Companies Focus on Customer Domains, Not Industries

In this presentation, Peter Weill, Chairman & Senior Research Scientist at MIT CISR & ADAPT Senior Advisor discusses technology strategy and how it is vital to anticipate future trends. What should we focus on in the coming year to position our companies as top performers? Our vision, dubbed ‘Goodbye Industries, Hello Domains,’ challenges conventional industry distinctions, acknowledging that customers prioritise outcomes over industry categorisations. For example, while we may identify as healthcare or banking entities, customers are more interested in achieving wellness or homeownership. This shift in perspective better aligns with customer needs and enhances overall performance. 

We’re observing a transition towards customer-centric domains, where companies concentrate on providing comprehensive solutions tailored to specific customer needs. This approach brings substantial performance advantages, as domain-focused companies tend to outshine their competitors. For instance, Kaiser Permanente’s shift from healthcare to wellness led to enhanced patient outcomes and satisfaction. By…