Competetive Advantage is Dead...
So claimed an article in Forbes in 2013. Almost 5 years on has anything changed?
The article is based on a book by Columbia Business School professor Rita Gunther McGrath which argues that the premise that corporates could find a source of competitive advantage and milk it over a period of time is now dead. The pace of change is such that no advantage is likely to last for more than a year or two at most.
Success is likely to come to businesses that are nimble, flexible, disciplined and focussed and who have the capacity to learn and adapt. Characteristics often found in Start-up and Scale-up businesses and in the people who flourish working in those environments.
The challenge comes, of course, once the business is profitably generating cash and everyone 'takes their foot off the gas'. What are the things that you need to build into the very soul of your business now so that innovation, awareness and flexibility form part its core being as it grows up - therby embedding the new source of competitive advantage?