Article by Professor Julian Birkinshaw Wins 2022 HBR Prize

An article debunking common myths about digital disruption has won the 2022 HBR Prize, which honours the best Harvard Business Review article of the year.

How Incumbents Survive and Thrive is authored by London Business School professor Julian Birkinshaw. The article challenges the prevailing narrative around technological disruption — namely, that no industry is immune, digital disruption happens quickly, and most established firms are unable to adapt.

His analysis of the Fortune 500 and the Global 500 shows that most sectors have been surprisingly stable over the past 25 years and most incumbents have transitioned into the digital age quite well. Professor Birkinshaw goes on to reveal four strategies these firms have used to successfully fight competitive threats.

“‘How Incumbents Survive and Thrive’ offers compelling evidence that digital disruption may not be as destructive as once thought, if navigated smartly,” said Adi Ignatius, Editor in Chief of Harvard Business Review. “The judges praised the article’s excellent research base, relevance to today’s companies, and insightful framework for leaders.”

Julian Birkinshaw is Professor of Strategy and Entrepreneurship and Vice-Dean at the London Business School, where he is also the Academic Director of the School’s Institute of Entrepreneurship and Private Capital (IEPC).

The HBR Prize, judged by an independent panel of business and academic leaders with input from members of HBR’s Advisory Board, spotlights the most outstanding article published each year in Harvard Business Review. Previously called the HBR McKinsey Award, it was established in 1959 to recognize groundbreaking management thinking. This year’s announcement appears in the May-June issue of the magazine.