How to keep your strategy current

by. Lisa Hochgraf

This resident of the Rochester, N.Y., area knows a Kodak engineer who used to get really super excited about making beautiful reds on traditional camera film.

Trouble was, at the same time this engineer and his team were perfecting a longstanding technology, Kodak’s film market share was declining rapidly and the company was losing in the new digital camera space.

Now, the “Kodak moment” appears to be all but over, as the company filed bankruptcy in January 2012.

Rita Gunther McGrath might say Kodak failed because it couldn’t unstick from its old strategy to provide film for capturing great moments–and, as a result, it missed the digital wave. A professor at New York’s Columbia Business School, McGrath will describe “the new strategy playbook” in keynoting CUES’ CEO/Executive Team Network, Nov. 3-6 in San Diego.

In her 2013 book, The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as Your Business,” McGrath says one of the key ways companies will keep their strategies current today is by competing in “arenas,” not “industries.”

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