McGrath. Rethinking Competitive Advantage. | VLearn
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Professor Rita McGrath serves at Columbia Business School and is a recognized expert on creating strategic business growth in volatile environments. Thinkers50 awarded Mcgrath membership of their exclusive chart of the worlds leading thinkers in business and as one of the top business professors to follow on Twitter. She’s a Fellow at the Strategic Management Society.
Mcgrath argues that strategy is stuck and that most leaders are using frameworks that were designed for a 20th Century paradigm and rooted in a single dominant idea—when the role of strategy was to achieve a sustainable competitive advantage. McGrath argues however that in the 21st Century using competitive advantage as a strategic foundation is increasingly irrelevant.
McGrath suggests that the time has come to rise above the notion of sustainable competitive advantage. As an alternative, organizations must take a new route to success: seizing opportunities fast, exploiting them decisively, and moving on even before they are exhausted. McGrath applies the term transient competitive advantage to this strategy.