This article from the October issue of Harvard Business Review has fueled my thinking about the profound changes going on in the world economy.
Authored by John Seely Brown, Lang Davison, and John Hagel, Shaping Strategy in a World of Constant Disruption gives evidence of the industrial age giving way to the network era. The gist of the article:
Redefining the terms of competition for a market sector, an industry, or an entire global ecosystem is a tall order. It means attracting thousands of participants, galvanizing their efforts, and retaining their commitment for the long haul. In this article, the authors provide a roadmap for the daunting task of shaping strategy as technology-driven infrastructures constantly change.
The authors discuss three elements that, no matter the industry, are vital in shaping strategy. A shaping view, or rallying cry to potential participants, clarifies the market opportunity, makes sense of fundamental forces, identifies rewards, and highlights the shared nature of risk. Together, these elements allow a shaper to quickly mobilize a critical mass of participants and, thereby, unleash powerful network effects that can yield big rewards during periods of rapid change. Almost any company will benefit from an attempt to shape strategy, say the authors, but they recognize that not every business is ultimately a shaper. By participating in other firms’ shaping strategies, a company can still find plenty of opportunities to create value.
In the spirit of the season, you can download the article without paying a fee or registering.
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