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Rita interview 1

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I think there's a new playbook for strategy. And I think the new playbook really has to draw a lot more on entrepreneurial thinking and behavior than on kind of classic strategizing. You know, it used to be, when I started in this field, strategy was kind of over there, and you did a lot of work on market share and relative positioning and relative price and stuff like that. And innovation and entrepreneurship were kind of over there and that was all about, you know, guys in painter pants wearing baseball caps on backward, thinking great thoughts in garages. And the two are really separate kinds of things. Today, innovation has become important in the sense that it needs to be a routine process. So that's one of the elements of what I call a new playbook for strategy. So the new playbook has a series of pillars, which are really different today than they were, you know, 10-20 years ago. The first one is a notion of continuous transformation or reconfiguration, this idea of changing before you have to. The second one is what I call healthy disengagement, which is when an advantage is exhausted. How do you get out? And how do you do that gracefully while you're capturing as much value as you can? Resource allocation also needs to change. You need to be moving resources out of businesses that were very successful perhaps in the past and putting those resources into something that's going to represent your future. And all of these places great pressure on leaders to be candid, to make decisions quickly, to be prepared to take risks. And it also has implications for individual careers. If your company comes and goes, if your advantage comes and goes, if the thing that you were great at comes and goes, you need to be building your career in a really different way.

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Duration: 1 minute and 36 seconds
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Language: English
License: Dotsub - Standard License
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Views: 7
Posted by: wobi on Jan 27, 2021

Rita interview 1

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