Chances are the strategies that worked well for you even a few years ago
no longer deliver the results you need. Dramatic changes in business
have unearthed a major gap between traditional approaches to strategy
and the way the real world works now. In short, strategy is stuck. Most
leaders are using frameworks that were designed for a different era of
business and based on a single dominant idea—that the purpose of
strategy is to achieve a sustainable competitive advantage. Once the
premise on which all strategies were built, this idea is increasingly
irrelevant. Now, Columbia Business School professor and globally
recognized strategy expert Rita Gunther McGrath argues that it’s time to
go beyond the very concept of sustainable competitive advantage.
Instead, organizations need to forge a new path to winning: capturing
opportunities fast, exploiting them decisively, and moving on even
before they are exhausted. She shows how to do this with a new set of
practices based on the notion of transient competitive advantage.