The document discusses how businesses can better manage customer expectations to achieve success. It argues that Michael Porter's value chain, which focuses on cost optimization, is wrong because customers, not margins, drive business success. Companies like Virgin Mobile and Zara are used as examples of those that focus on meeting customer expectations without exception through innovations in their processes and supply chains. This allows them to deliver higher customer value through offerings like contracts-free mobile plans or rapid fashion trends, outweighing higher costs. The key lessons are that market leaders simplify customers' lives, align everything to the customer, and use technology and processes to maximize customer value over margins.