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MITSloan Management Review Article—How to Rethink Your Business During Uncertainty

Rita McGrath and Ian MacMillan wrote: “The depressing headlines are only the latest manifestation of a trend that has been long in the making: the encroachment of Schumpeter’s famous “gales of creative destruction” over what were once relatively stable, even mature, businesses.1 Unfortunately, leaders of many of today’s more mature organizations don’t have the right mindset or practices to help their organizations survive. They grew up with management practices suited to a different age — one with higher barriers to entry, greater transaction costs, fewer capable competitors, growing and increasingly affluent markets and far less information. The environments they are facing now, however, are less predictable, more complicated and more volatile.” To read the entire article, log in here.

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