We’ve all seen the story play out. A company experiences phenomenal success, their CEO makes the cover of notable business publications, and business writers use them as examples for the rest of us. Then, somehow, the firm gets into trouble. Competitors capture their customers, margins shrink, investors grumble, activists turn up, the CEO, or a succession of CEOs, are shown the door, and, eventually the company disappears or becomes irrelevant. A root cause, McGrath argues, is the pervasive belief that a competitive advantage, once established, is enduring. This belief leads to complacency, inward focus, loss of customer engagement and a stifling of innovation. Instead, smart strategists leave old assumptions at the door and pursue opportunities to establish and exploit transient advantages.
You will learn:
- Why too much stability can be your enemy – and how to embrace continuous reconfiguration
- Why existing metrics will lead you astray – and what you should be measuring instead
- Why healthy disengagement from a fading business is one of the most important practices to get right
- How it’s a trap to believe your most important competitors are others in your industry
- Why innovation is not optional
- How to lead when command-and-control doesn’t work
- How to manage talent in a ‘tour of duty’ context
“If competitive advantage was ever sustainable, that time has passed. McGrath…lays out the tools that fuel leading performance…it will give you an entirely new perspective on how to think about strategy.”
Francisco D’Souza, CEO, Cognizant
“McGrath’s groundbreaking work is aptly timed for today’s dynamic markets, where winning requires continuous reconfiguration.”
Nancy McKinstry, CEO and Chairman, Executive Board, Wolters Kluwer NV