Millennium Marketing Research®
Tom Schori DBA Millennium Marketing Research®, 808 Ironwood, Normal IL 61761, 309-532-8466

How to identify the genuinely 'worldclass' companies.

By Thomas R. Schori, Ph.D., and Michael L. Garee, Principals,  Millennium Marketing Research, 808 E. Ironwood, Normal, IL 61761-5239. Tel. 309-532-8466 -

Lots of companies today trumpet the fact that they are "world-class" companies, and usually what they mean by that term is that they are BIG and have gained a measure of success in the broader marketplace. Ideally, of course, that broader marketplace would consist of the world, or at least that part of it that caters these days to commerce.

In point of fact, though, being big, or even having gained some measure of worldwide success doesn’t necessarily make a company "world-class," particularly if any degree of the emphasis is on the word "class." Lots of companies today compete in the world marketplace, but only a select number possess genuine class, world or otherwise.

Since companies¾all companies¾are really nothing more than the sum total of the people making it up, all companies can be said to have a "personality." And personality types runs the gamut in companies, just as they do in people. Some are kind, thoughtful, responsible and considerate of others, while some are rude, arrogant, belligerent and irresponsible. Moreover, just as is the case with people, at least in the short-term, the companies with the "good" personalities don’t necessarily always come out on top, either. But long-term that does seem to be the case. Again, just like people, those companies that last, those companies that prosper for the long haul, are indeed the companies with the "good" personalities.

What are the characteristics of a genuinely "world-class" company? Here are a few:

  • These companies don’t merely pay lip service to the term "customer service," they take it quite literally and very seriously. Employees of "world-class" companies view it as a personal affront if customers are dissatisfied with their company’s products or services, and they will do whatever it takes to try and satisfy the customer.
  • "World-class" companies view the entire marketplace where they do business, and the individual people populating it, as a vitally important constituency. They make a genuine and continuous effort to stay "in touch" with what their customers¾ and, equally important, their prospective customers¾ are thinking and saying, particularly where the company’s products and services are concerned.
  • These are the companies that know that their long-term success rests more on how good of a "corporate citizen" they are than on the current quarter’s profit and loss statement. They make a genuine effort to give back something to the communities where they are located, either in time and commitment or in dollars, or, ideally, both.
  • To these companies there are essentially two classes of people, those who are already their customers and those whom they would like to make their customers, which, quite often, is everybody who isn’t yet their customer. That means they treat everyone they come into contact with, either directly or indirectly, with respect and consideration.
  • These companies continually strive to be innovative, both from the standpoint of their products and services as well as in the way they conduct their business. They know instinctively that their best long-term prospects lie in delivering the kinds of products and services their customers (and prospective customers) want and need, at prices they can afford, and in a manner that clearly takes the customer’s convenience into primary consideration, not the company’s.
  • Far from assuming that they are the font of all knowledge (read "arrogant"), the genuinely "world-class" companies continually "test the waters" among their constituencies, e.g., customers, prospects, vendors, et al., to ensure that they are not overlooking something that could improve their products or services or even the way they do business. In other words, they genuinely listen to their constituencies and respond positively when such a response is appropriate.

Each of us can think of companies that meet each of these criteria for genuine "world-class" status. Similarly, each of us can think of many companies that claim such status but definitely do not meet these criteria. And, of course, we can also think of many companies that meet some of the criteria but not others, etc. The point is, just because a company claims "world-class" status doesn’t necessary make it so.

Is it difficult to mold a company into "world-class" status? Difficult, yes, but certainly not impossible. When one considers the tremendous return on the "investment," enthusiasm can quickly build in even the most trenchantly "customer-unfriendly" companies. Conversely, the "cost" of not at least aspiring to "world-class" status can be prohibitive even in today’s booming economy. When the economy ultimately cools¾ as it most certainly will¾ that cost will increase substantially. That cost may even end up being the very life of the company.