Firms Survive By Recognizing Fundamental Industry Changes
Source: Stanford University
Enduring companies survive because employees throughout the firm, not just those in the executive suite, learn to keep an eye on how related industries are evolving. Longevity comes not just from matching the competition but also from recognizing fundamental changes in how the game is played and moving strategically to stay ahead. "The main capability you really have to deal with these dynamics is the strategy-making process," said Robert A. Burgelman, the Edmund W. Littlefield Professor of Management at the Stanford Graduate School of Business, who coauthored with Andrew S. Grove, Stanford lecturer, a recent study in the Strategic Management Journal.