Rethinking Competitive Advantage
New Rules for the Digital Age
(Sprache: Englisch)
How do you gain an edge in the digital world order?
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How do you gain an edge in the digital world order?Another book for the ages from a master! . . . Particularly insightful is his emphasis on how the end-to-end individual consumer experience will separate winners from losers in our new digital age. Fred Hassan, chairman, Caret Group; former CEO, Schering-Plough and Pharmacia
The old ways of creating competitive advantage for your business such as building moats to ward off competitors have become dangerous. Giants like Amazon and Alibaba are creating vast new market spaces through a deft combination of tools like machine learning and business savvy that reimagines customer experiences while generating immense shareholder value.
A handful of traditional companies, including Fidelity Investments, Walmart, and B2W, have adopted these new approaches to reinvigorate their businesses. Most, however, are stalled and the clock is running out.
In this lively, accessible guide, Ram Charan, bestselling author and adviser to some of the world s top CEOs and boards, redefines competitive advantage for the digital-first era, offering a set of new rules to get ahead:
Create an ecosystem with third-party partners to revolutionize and personalize the customer experience.
Empower teams focused on a single task, building a social engine that drives constant innovation, fast execution, and customer satisfaction.
Attract funders who understand the big picture: that beyond a certain scale, major upfront spending will turn into a cash-generation machine.
Filled with stories that peek behind the curtain of digital behemoths as well as traditional companies that have transformed their organizations, Rethinking Competitive Advantage offers concrete advice and methods to help you conceive of new market spaces and moneymaking models.
Competing against digital giants might seem daunting, if not impossible. The necessary computing power is within any company s reach. By borrowing from
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these digital winners playbooks, traditional companies and upstarts alike can gain an upper hand. Whether you re in the C-suite or brainstorming the next big idea from your garage, Rethinking Competitive Advantage is the ultimate guide to creating competitive advantage today.
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Chapter 1Why the Digital Giants Are Winning
In February 2019, as Hollywood s elite convened for the 91st Academy Awards ceremony, Netflix found itself in a war of words with famed director Steven Spielberg. Green Book, the movie Spielberg had backed, won the Oscar for Best Picture. But Spielberg made it clear that he didn t think Roma, another strong contender that had been produced by Netflix, should have been in the running for an Oscar at all.
Spielberg s argument against Roma was that it was streamed by Netflix directly to consumers after an exclusive run of just three weeks in movie theaters. Traditional films are shown in theaters for months at a time. Shortcutting a theatrical release, Spielberg argued, deprives moviegoers of an immersive big-screen experience and puts the entire theater system at risk.
As the Academy s board of governors prepared to debate the issue, one governor remarked: The rules were put into effect when no one could conceive of this present or this future.
Actually, Netflix CEO and cofounder Reed Hastings conceived of this future nearly two decades ago, before broadband was widely used. Then Hastings did what leaders of every successful digital company do. He exploited new technology to create the future he imagined much faster than other people thought possible.
Imagining new market spaces and revenue pools that can scale up at unprecedented speed is just one way that born-digital companies those that were digital from the start have gained a huge competitive edge in recent years. Thinking differently about how to make money and fund growth is a second way. And using algorithmic technology to reorganize work and enhance decision-making is yet a third.
In today s competitive age, traditional companies need to know what they re up against and learn from the born-digital players how to build competitive advantage.
The New Nature of Competition
Back in 2000, even as Netflix built its competitive advantage by
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sending out DVDs by mail as opposed to having consumers visit retail video stories like Blockbuster, its leaders knew that broadband technology would someday be fast enough, cheap enough, and good enough for consumers to watch movies sent or streamed to their devices directly, anywhere at any time. The technology still wasn t advanced enough in 2005 when Hastings told Inc. magazine s Patrick J. Sauer: We want to be ready when video-on-demand happens.
In 2007, the time had come. About half of U.S. residences had access to broadband, and Netflix was ready to begin streaming movies into the homes of its customers. YouTube was experiencing rapid growth, and Hulu, owned in partnership between NBC and Comcast, sprang up around the same time. Netflix flourished because of a powerful combination of elements.
For one thing, Netflix charged a monthly subscription fee that gave consumers access to unlimited videos a novelty at a time when most people rented one or a few DVDs or VHS tapes at a time. To be sure that consumers would not run out of new things to watch, Netflix licensed content from traditional media companies. Subscribers could watch popular new film releases without leaving home and for the first time could binge-watch their favorite old TV shows.
None of that would have been possible without a technology platform that could deliver a smooth viewing experience. But Netflix s digital platform didn t just transmit signals through broadband connections it also gathered data about its customers viewing habits along the way. Algorithms got increasingly better at analyzing that data to help subscribers find content they liked amid a widening array of options.
Building its digital platform, securing broadband spectrum, paying licensing fees, and hiring technology experts to write and refine th
In 2007, the time had come. About half of U.S. residences had access to broadband, and Netflix was ready to begin streaming movies into the homes of its customers. YouTube was experiencing rapid growth, and Hulu, owned in partnership between NBC and Comcast, sprang up around the same time. Netflix flourished because of a powerful combination of elements.
For one thing, Netflix charged a monthly subscription fee that gave consumers access to unlimited videos a novelty at a time when most people rented one or a few DVDs or VHS tapes at a time. To be sure that consumers would not run out of new things to watch, Netflix licensed content from traditional media companies. Subscribers could watch popular new film releases without leaving home and for the first time could binge-watch their favorite old TV shows.
None of that would have been possible without a technology platform that could deliver a smooth viewing experience. But Netflix s digital platform didn t just transmit signals through broadband connections it also gathered data about its customers viewing habits along the way. Algorithms got increasingly better at analyzing that data to help subscribers find content they liked amid a widening array of options.
Building its digital platform, securing broadband spectrum, paying licensing fees, and hiring technology experts to write and refine th
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Autoren-Porträt von Ram Charan
Ram Charan is a highly acclaimed business adviser, speaker, and author, well known for his practical, real-world perspective. He was a Baker Scholar at Harvard Business School where he earned his MBA degree with distinction, as well as his DBA. Charan is the author of What the CEO Wants You to Know, Profitable Growth Is Everyone s Business, The Leadership Pipeline, and Boards at Work. His articles have appeared in Fortune and Harvard Business Review.
Bibliographische Angaben
- Autor: Ram Charan
- 2021, 224 Seiten, Maße: 14,5 x 21,6 cm, Gebunden, Englisch
- Verlag: Currency
- ISBN-10: 052557560X
- ISBN-13: 9780525575603
- Erscheinungsdatum: 30.03.2021
Sprache:
Englisch
Pressezitat
Rethinking Competitive Advantage is the book to redefine advantage for the digital generation. Charan lays out the new golden rules for an increasingly competitive world. His unfettered access to leaders of successful companies gives him insights that you won t find anywhere else. Douglas L. Peterson, president and CEO, S&P GlobalCharan delivers an incredibly insightful and practical guide for leaders and practitioners. The culmination of a lifetime of winning strategies, Rethinking Competitive Advantage is brimming with solution-oriented advice .A must-read. Bruce D. Broussard, president and CEO, Humana Inc.
Rethinking Competitive Advantage offers more than just valuable insight into thinking digitally; any reader will learn how to organize and lead for success. Thanks as always, Ram! David M. Cote, former chairman and CEO, Honeywell; author of Winning Now, Winning Later
The companies we have invested in have mostly pursued a culture of attracting exceptional people, producing efficiently, and lowering cost. Market forces have obliged us to become more adaptable, consumer focused, and innovation oriented. Charan s book Rethinking Competitive Advantage fits like a glove in helping us adjust to this new world, so much so that we are distributing it to all our top executives. Jorge Paulo Lemann, co-founder, 3G Capital
Winning the technological revolution isn t about technology, as Rethinking Competitive Advantage demonstrates. Charan, grand master of strategy, has written the indispensable book on the radically new rules of the digital age. Geoff Colvin, bestselling author of Talent Is Overrated and senior editor at large, Fortune
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