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End of Competitive Advantage

For years, the ultimate goal of strategy was presumed to be a ‘sustainable’ competitive advantage. Strategy when advantages are not sustainable, however, can be just as powerful. It does require completely different approaches to budgeting, resources, and talent management, as well as an increased emphasis on creating a pipeline of innovations. This talk describes some of the counter-intuitive aspects of dynamic strategies, for example that it may make sense to sub-optimize some processes in the interests of preserving flexibility.

The core differences between conventional strategy and the new strategy playbook fall into the following categories:

  • Continuous Reconfiguration, rather than massive restructuring
  • Healthy Disengagement, rather than abrupt exits
  • Deft Resource Allocation, avoiding the resources-as-hostage trap
  • Innovation Proficiency, rather than innovation that is episodic
  • Discovery Driven Leadership mindset
  • Entrepreneurial Career Management

This material forms the backbone of McGrath’s recent book on strategy

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