Game-Changing Strategies: how to create new market space
Game-Changing Strategies is the new book by Costas Markides, the Robert Bauman Professor of Strategic Leadership at London Business School.
Game-Changing Strategies examines the obstacles that established companies face as they attempt to discover radical new business models in their industries and describes how they can do it.
There is no question that companies who develop new radical business models in established industries - and in the process break the rules of the game in those industries can enlarge the market and create enormous value for themselves. While everybody agrees with this idea, few seem to appreciate that the majority of new business-model innovations are introduced by newcomers in an industry.
Why is that? Established firms appreciate the need to break the rules as much as start-up firms. They also possess many more resources, skills, and technologies to do so effectively. Yet they continue to allow new firms to take the initiative when it comes to business-model innovation. The question is why?
Game-Changing Strategies explains the reasons behind this puzzle and presents practical ideas on how established firms can not only discover radical new business models but also grow them next to their existing business models.
The challenge for established firms is not the discovery of a new business model—the real challenge is how to make two business models coexist. This book offers advice on how established firms can implement structures and processes that make the new business model less conflicting and more palatable to the existing business.
COSTAS MARKIDES holds the Robert P. Bauman Chair of Strategic Leadership at the London Business School and is the Chairman of the Strategic and International Management (SIM) Department at London Business School. He is the author or co-author of six other books including All the Right Moves, Strategic Thinking for the Next Economy, The Future of the Multinational Company, and Fast Second.