When the cost of information was high, it used to be that you could get away with uncompetitive pricing.
Before virtually everyone had access to high-speed internet anytime, anywhere, you could get away with silo-ed sales channels and disconnected customer experiences.
Before your customers had frequent exposure to best-in-class customer service, or easy to use on-line checkout or relevant personalization–or whatever counts for meaningfully useful these days–you could get away with parts of your value proposition being less than ideal.
But in a world where the power continues to shift from brands to consumers, where your customer doesn’t care how you happen to be organized, where she increasingly expects you to know her, remember her and tailor experiences to her precise wants and needs, the table stakes continue to rise.
Sure, you can probably get away with some of your short-comings for a bit longer.
But getting away with something hardly demonstrates leadership.
And failing to understand, and to act upon, the differences between “nice to have” and table stakes is a sure path to failure.