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Costas Markides

Professor of Strategy and Entrepreneurship; Robert P Bauman Chair in Strategic Leadership; Executive Education Faculty Director


BA and MA (Boston University), MBA and DBA (Harvard Business School)

Repeatedly ranked among the world’s top 50 business thinkers by the Thinkers50, Professor Costas Markides is recognised as one of the world’s foremost experts on strategy and innovation. An internationally acclaimed teacher and conference speaker, Professor Markides has researched the topics of strategic innovation, business model innovation, diversification and international acquisitions.

His work explores how established companies could pursue radical or disruptive innovation and how they can compete with two business models in the same industry. He also examines how companies can create a culture of continuous innovation and the role that individual managers play in making a company more innovative.

In recent years, Professor Markides has increasingly turned his attention to social issues and studies how management ideas can be used to address social problems  such as drug related crime, poverty and malnutrition.   His forthcoming book Architects of Change explores how individuals could design innovative solutions to social problems in ways that make them easily scalable. He also examines how a decentralised change process could be used to scale up social innovations and diffuse them globally.

Professor Markides' book All the Right Moves: A Guide to Crafting Breakthrough Strategy was shortlisted for the Igor Ansoff Strategic Management Award in 2000. Similarly, his book Fast Second: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets (with the late Paul Geroski), was on the shortlist for the Financial Times-Goldman Sachs Management Book of the Year in 2005. In Game-Changing Strategies (2008), Professor Markides explores how established firms can use business model innovation to break the rules in their markets and how to respond when a disruptive business model invades their markets. 

A native of Cyprus, Professor Markides received his BA (Distinction) and MA in Economics from Boston University, and his MBA and DBA from Harvard Business School. He is now Professor of Strategy and Entrepreneurship and holds the Robert P Bauman Chair of Strategic Leadership at London Business School.

2015

Research on business models: Challenges and opportunities

Markides C

Chapter in Charles Baden-Fuller and Vincent Mangematin (Eds.): Advances in Strategic Management, Vol. 33, Bingley, UK: Emerald Group Publishing Ltd.

Changing the world one step at a time: How small changes can have a big effect

Markides C; McGahan A

London Business School Review 2015 Forthcoming

How established firms exploit disruptive business model innovation: Strategic and organizational challenges

Markides C

Chapter in Nicolai Foss and Tina Saebi (eds.): Business Model Innovation: The Organizational Dimension, Oxford University Press

Achieving change that lasts

Markides C; McGahan A

London Business School Review 2015 Vol 26:1 p 14-19

2013

Business model innovation: What can the ambidexterity literature teach US?

Markides C

Academy of Management Perspectives 2013 Vol 27:4 p 313-232

Making the leap into disruptive markets

Markides C

Business Strategy Review 2013 October

Pioneering and first-mover advantages: The importance of business models

Markides C; Sosa L

Long Range Planning 2013 Vol 46:4-5 p 325-334

Disruptive innovation at the bottom of the pyramid: What role can western incumbents play?

Markides C

Disruptive Innovation in Chinese and Indian Businesses, New York: Routledge 2013 p 167-178

Disruptive reality

Markides C

Business Strategy Review 2013 Vol 24:3 p 36-43

2012

Competitive strategy research's impact on practice

Markides C

In Giovanni Battista Dagnito (ed.): Handbook of Research on Competitive Strategy, chapter 26, pp. 561-574

Think again: Fine-tuning your strategic thinking

Markides C

Business Strategy Review 2012 Vol 23:4 p 80-85

How disruptive will innovation from emerging markets be?

Markides C

MIT Sloan Management Review 2012 Vol 54:1 p 22-25

2011

Crossing the chasm: How to convert relevant research into managerially useful research

Markides C

Journal of Applied Behavioural Science 2011 Vol 47:1 p 121-134

What to do against disruptive business models: When and how to play two games at once

Markides C; Oyon D

Sloan Management Review 2010 Summer Vol 51:4 p 25-32

The last frontier: Market creation in conflict zones, deep rural areas and urban slums

Anderson J; Markides C; Kupp M

California Management Review 2010 Summer Vol 52:4 p 6-28

Innovating globally

Markides C

Business Strategy Review 2010 Vol 21:1 p 24-27

2009

Innovation through ambidexterity: how to achieve the ambidextrous organization

Markides C; Chu W

In Costanzo L and MacKay B eds., Handbook of research on strategy and foresight, Elgar, 2009

2008

The strategy of art

Markides C; Anderson J; Reckhenrich J

Business Strategy Review 2008 Autumn Vol 19:3 p 5-12

Strategy, innovation and change: Challenges for management

Galavan R; Murray J; Markides C; eds.

Oxford: Oxford University Press, 2008

How to create the industries of the 21st century

Markides C

In Galavan R; Murray J and Markides C eds., Strategy, innovation and change: challenges for management. Oxford: Oxford University Press, 2008

2007

Strategic innovation at the base of the economic period

Anderson J; Markides C

Sloan Management Review 2007 Vol 49:1 p 83-88

In search of ambidextrous professors

Markides C

Academy of Management Journal 2007 Aug Vol 50:4 p 762-768

2006

Exploring the boundary of strategy and economics: an essay in memory of Paul Geroski

Markides C

International Journal of the Economics of Business 2006 Vol 13:1 p 7-11

Hidden agenda

Markides C

People Management 2006:28 Sept p 36-41

Disruptive innovation: in need of better theory

Markides C

Journal of Product Innovation Management 2006 Vol 23:1 p 19-25

Creativity is not enough: How strategic innovators succeed in the marketplace

Markides C; Anderson J

European Journal of Innovation Management 2006 Vol 9:2 p 129-148

2005

Why Professor Porter is wrong

Markides C

Think: Act 2005 Dec Vol 1:1 p 50-53

Spotlight: strategy in turbulent times

Markides C

Management Decision 2005 Vol 43:9 p 1225-1231

Tackling upstart competitors?: it's not easy

Markides C

CIIM Management Review 2005 Spring Vol 1:1 p 4-9

2004

The art of scale: how to turn someone else's idea into a big business

Geroski P; Markides C

Strategy and Business 2004 Summer Vol 35 p 51-59

Idol talk

Markides C

People Management 2004 Oct 28 Vol 10:21 p 52-53

Creating new radical markets: the myth of first mover advantage

Markides C; Geroski P A

Market Leader 2004 Spring Vol 24 p 21-26

Competing with dual business models: a contingency approach

Markides C; Charitou C

Academy of Management Executive 2004 Aug Vol 18:3 p 22-36

What is strategy and how do you know if you have one?

Markides C

Business Strategy Review 2004 Summer Vol 15:2 p 5-12

Rethinking innovation

Markides C

Leader to Leader 2004 Fall Vol 34 p 35-42

Racing to be second: conquering the industries of the future

Markides C; Geroski P

Business Strategy Review 2004 Winter Vol 15:4 p 25-31

Portfolio restructuring based on strategic relatedness between businesses: a suggestion for the chaebol

Lee J-H; Markides C

in Jwa S-H and Lee K eds., Competition and corporate governance in Korea, p 249-276, Edward Elgar, 2004

T-innovation: using information and communication technology to achieve strategic innovation

Anderson J; Markides C

International Journal of Innovation and Technological Management 2004 June Vol 1:2 p 233-248

2003

How to respond to disruptive strategic innovation

Charitou C; Markides C

Market Leader 2003 Summer Vol 21 p 18-24

Walking on water: how to win by breaking the rules

Markides C

in von Stamm B ed., Innovation wave, p63-73, Wiley, 2003

Colonizers and consolidators: the two cultures of corporate strategy

Markides C; Geroski P

Strategy and Business 2003 Fall Vol 32 p 46-55

Responses to disruptive strategic innovation

Charitou C; Markides C

Sloan Management Review 2003 Winter Vol 44:2 p 55-63

Racing to be second: innovation through imitation

Markides C

in Birkinshaw J et al. eds., Future of the multinational company, p 211-221, Wiley, 2003

Teaching elephants how to dance and other silly ideas

Markides C; Geroski P A

Business Strategy Review 2003 Autumn Vol 14:3 p 49-53

Pioneers and consolidators

Geroski P A; Markides C

Management Consultant 2003 Fall

Future of the multinational company

Birkinshaw J; Ghoshal S; Markides C; Stopford J M; Yip G eds.

John Wiley, 2003

2002

Escaping the jungle

Markides C

Business Strategy Review 2002 Vol 13:3 p 34-38

Imitation and the sustainability of competitive advantage

Larsen E R; Markides C; Gary S

in Academy of Management Best Paper Proceedings, Denver, 2002

Corporate strategy: the role of the centre

Markides C

in Pettigrew A, Thomas H and Whittington R eds., Handbook of strategy and management, p 98-112, Sage, 2002

2001

Breaking the rules

Markides C

Management Today 2001 Vol 17:4 p 4-10

Strategy as balance: from 'either-or' to 'and'

Markides C

Business Strategy Review 2001 Autumn Vol 12:3 p 1-10

Strategic thinking for the next economy

Markides C; Cusumano M

Jossey Bass, 2001

What is strategy and how do you know if you have one?

Markides C

in Crainer S, Dearlove D eds., Financial Times handbook of management. 2nd ed., p 230-242, Pearson Education, 2001

2000

Strategic innovation: Constantinos Markides on strategy and management

Markides C

Academy of Management Executive 2000 Vol 14:3 p 43-46

Changing the strategy at Nespresso: an interview with former CEO Jean-Paul Gaillard

Markides C; Dyon D

European Management Journal 2000 Jun Vol 18:3 p 296-301

Commentary on the Henry Mintzberg interview

Markides C

Academy of Management Executive 2000 Vol 14:3 p 39-41

'Strategy and management: Constantinos Markides discusses strategic innovation': an interview by Paul Mang

Mang P; Markides C

European Management Journal 2000 Aug Vol 18:4 p 357-365

What to focus on?: corporate restructuring based on strategic and dynamic relatedness

Lee J-H; Markides C

in Jwa S-H, Lee I K eds., Korean chaebol in transition: road ahead and agenda, p305-346, Korea Economic Research Institute, 2000

1999

Six principles of breakthrough strategy

Markides C

Business Strategy Review 1999 Vol 10:2 p 1-10

Strategy as making choices: a discussion with John Bachmann, managing principal of Edward Jones

Markides C

European Management Journal 1999 Vol 17:3 p 275-281

Strategic innovation: the leaders' dilemma

Markides C

European Management Journal 1999 Vol 17:1 p 33-36

Strategic innovation at Lan and Spar Bank: an interview with CEO Peter Schou

Markides C

European Management Journal 1999 Vol 17:2 p 165-173

In search of strategy

Markides C

Sloan Management Review 1999 Vol 40:3 p 6-7

A dynamic view of strategy

Markides C

Sloan Management Review 1999 Vol 40:3 p 55-63

Challenge of strategic innovation

Markides C

Leader to Leader 1999 Summer Vol 13 p 39-46

1998

Related diversification, core competences and corporate performance

Markides C; Williamson P

in Foss N ed., Resources, firms and strategies: a reader, Oxford University Press, 1998

International joint ventures: the learning perspective

Markides C; Tracy E

in Urban S ed., Strategic alliances, partnerships and long-term cooperative relations, Gabler, 1998

International acquisitions: do they create value for shareholders?

Markides C; Oyon D

European Management Journal 1998 Vol 16:2 p 125-135

Strategic innovation in established companies

Markides C

Sloan Management Review 1998 Spring Vol 39:3 p 31-42

What constitutes an effective mission statement: an empirical investigation

Markides C; Papadakis V

in Hitt M, Ricart J and Nixon R eds., New managerial mindsets: organizational transformation and strategy implementation, p 35-54, John Wiley & Sons, 1998

To diversify or not to diversify

Markides C

in Harvard Business Review on strategies for growth, p 79-97, Harvard Business School Press, 1998

1997

To diversify or not to diversify

Markides C

Harvard Business Review 1997 Nov-Dec Vol 75:6 p 93-99

Escaping our mental models

Markides C

European Counsel 1997 Sep p 14

Soldiers with a mission but no passion

Markides C

European Counsel 1997 Apr p 18

Preparing for the unknown in advance

Markides C

European Counsel 1997 May p 16

Related diversification, core competences and corporate performance

Markides C; Williamson P

in Campbell A and Sommers K eds., Core competency-based strategy, p 96-122, International Thomson, 1997

Good marketing means convincing the customer

Markides C

European Counsel 1997 Mar p 18

Successful diversification

Markides C

European Counsel 1997 Jul-Aug p 12

Strategic innovation

Markides C

Sloan Management Review 1997 Vol 38:3 p 9-23

Creating the innovative organisation

Markides C

European Counsel 1997 Jun p 16

Corporate restructuring: a symptom of poor governance or a solution to past managerial mistakes

Markides C; Singh H

European Management Journal 1997 Jun Vol 15:3 p 213-219

Benchmarking our way to economic success

Markides C

European Counsel 1997 Jan-Feb p 18

1996

Business evolution and the sources of competitive advantage

Markides C

European Counsel 1996 Dec Vol 1:4 p 18

Even lawyers need to think strategically

Markides C

European Counsel 1996 Sep Vol 1:1 p 18

Right reasons for breaking up

Markides C

European Counsel 1996 Oct Vol 1:2 p 18

Corporate diversification and organizational structure: a resource-based view

Markides C; Williamson P J

Academy of Management Journal 1996 Vol 39:2 p 340-367

Essence of good management

Markides C

European Counsel 1996 Nov Vol 1:3 p 18

1995

Causes and consequences of corporate restructuring

Markides C

in Thomas H, O'Neal D and Kelly J eds., Strategic renaissance and business transformation, p 415-434, John Wiley, 1995

Strategic management: overview

Markides C

in Crainer S ed., Financial Times handbook of management, Financial Times/Pitman, 1995

Diversification, restructuring and economic performance

Markides C

Strategic Management Journal 1995 Feb Vol 16:2 p 101-118

Manufacturing offshore is bad business

Markides C; Berg N

in Pisano G and Hayes R eds., Manufacturing renaissance, p 115-127, Harvard Business School Press, 1995

From ugly ducklings to elegant swans: transforming mature companies into world leaders

Markides C; Stopford J M

Business Strategy Review 1995 Summer Vol 6:2 p 1-24

1994

Acquisitions, de-mergers and sell-offs: how to become an inside raider

Markides C

Alumni News 1993 Spring p 9-11

Restructuring for competition

Markides C

in Heller R ed., Managing 1994: the competitive edge, p 22-24, Sterling Publications, 1994

Related diversification, core competences and corporate performance

Markides C; Williamson P J

Strategic Management Journal 1994 Summer Vol 15 p 149-165

Business is good?: time for change

Markides C

Alumni News 1994 Spring p 15

Building global excellence

Stopford J M; Markides C et al.

BOC Group, 1994

Information content of share repurchases: an empirical study

Oyon D; Markides C; Ittner C

British Journal of Management 1994 Vol 5 p 65-75 Special issue

Stealing from thy neighbour: leveraged recapitalisations and wealth redistribution

Markides C; Oyon D

British Journal of Management 1994 Jun Vol 5:2 p 139-152

Shareholder benefits from corporate international diversification: evidence from US international acquisitions

Markides C; Ittner C

Journal of International Business Studies 1994 Spring Vol 25:2 p 343-366

1993

Corporate refocusing

Markides C

Business Strategy Review 1993 Spring Vol 4:1 p 1-15

1992

How much-hated takeover defences can unlock hidden value

Markides C

Multinational Business 1992 Summer Vol 3 p 21-28

Consequences of corporate refocusing: ex-ante evidence

Markides C

Academy of Management Journal 1992 Vol 35:2 p 398-412

Economic characteristics of de-diversifying firms

Markides C

British Journal of Management 1992 Jun Vol 2:2 p 91-100

Corporate divestitures: the stockmarket verdict

Markides C; Berg N

Long Range Planning 1992 Apr Vol 25:2 p 10-15

1991

Are the European markets for corporate control competitive?: an (indirect) empirical test

Markides C; Oyon D

in Proceedings of the 17th Annual Conference of the European International Business Association, p 1057-1082, Copenhagen, 1991

Back to basics: reversing corporate diversification

Markides C

Multinational Business 1991 Winter Vol 4 p 12-25

1990

Valuation consequences of international acquisitions

Markides C; Oyon D; Ittner C

Ekonomia 1990 Vol 3:1 p 1-18

1989

Short term benefits, long term risks of offshore manufacturing

Markides C; Berg N

Directors and Boards 1989 Summer p 44-45

1988

Manufacturing Offshore is Bad Business

markides C; Berg N

Harvard Business Review 1988 Vol 66:5 p 113-120

2012

Responding to Disruptive Business Models

Markides C

Strategic Management Society Conference

2006

Competitor Behavior in response to new entry: The Case of the German mobile phone market 1986-1998

Markides C C; Nattermann P M

Strategic and International Management Working Paper

Innovation through Ambidexterity: How to Achieve the Ambidextrous Organization

Markides C C; Chu W

Strategic and International Management Working Paper

Firm Imitation and Performance: A Simulation Study

Gary M S; Larsen E; Markides C C

Strategic and International Management Working Paper

2003

Firm-level imitation and the evolution of industry profitabililty: a simulation study

Markides C; Gary M S; Larsen E

Strategic and International Management Working Paper

From creating to conquering markets: how mature firms innovate

Markides C; Geroski P

Strategic and International Management Working Paper

New entry, strategy convergence and the erosion of industry profitability

Markides C; Larsen E; Nattermann P

Strategic and International Management Working Paper

Current:

Strategic Innovation E327A SPR15, 

Strategic Innovation E327B SUM15 

Strategy Lab E494 AUT14

• Graduated Summa Cum Laude with Distinction in Economics, 1983
• Dean's List, Boston University: 1981-82, 1982-83
• Elected to Phi Beta Kappa, Boston University, 1983
• Awarded the Alumni Student Award in Economics, 1983
• Awarded full scholarship for M.A. degree
• B.A. and M.A. degrees received within two years of matriculation, 1981-1983
• Invited Participant, Doctoral Consortium, Policy and Planning Division, Academy of Management, Anaheim, 1988
• Harvard Business School Fellowship (1989-1990)
• Recognized Teacher, University of London
• Winner, 1997 Outstanding Reviewer for the BPS Division of Academy of Management.
• Winner of the LBS Excellence in Teaching Award Across All Programmes (and Executive Education), 1999 (first time ever that the award was given)
• Nominated for the UK National Teaching Fellowships Scheme (NTFS), 2000
• Winner of the LBS Innovation in Learning Teaching Award, 2001
• Awarded the Robert P. Bauman Chair in Strategic Leadership, LBS, April 2001
• Winner of the LBS Exec MBA Excellence in Teaching Award, 2004
• Winner of the LBS 2005 Senior Faculty Teaching Award
• Winner, Excellence in Teaching Award, 2009

Research Interest

Corporate entrepreneurship, corporate strategy and disruptive innovation.