Strategy, organization and leadership in a new “transient-advantage” world

Abstract

Purpose – In this Masterclass Prof Leavy considers some game changing advice about how to manage the fundamental challenges of the spread of hyper-competition and speed at which knowledge advantages now typically erode. His intent is to advance the dialogue among the corporate strategy, innovation, leadership and entrepreneurship functions. Design/methodology/approach – The concepts and tools of three new books are studied closely: in The End of Competitive Advantage, strategy and innovation guru Rita Gunther McGrath offers a strategy playbook for what she calls the new “transient advantage economy; in Accelerate, change leadership researcher, John Kotter, makes the case for developing a new “strategy operating system” to run in tandem with the traditional “performance operating system,” so that renewal can become continuous rather than episodic; and in The Good Struggle, leadership and ethics expert, Joseph Badarraco turns to five enduring questions of responsible leadership and looks for the emerging answers that might offer the most valuable guidance to leaders now having to operate in today’s recombinant environment. Findings – The perspectives provided can help leaders raise the odds of working successfully and responsibly in the exciting, uncertain, recombinant, market-driven world that now surrounds us all. Practical implications – Clearly, not only do companies have to be become ever more adaptable, but ever more innovative. Lessons in how to do so are offered and exemplars are examined. Originality/value – The article looks at three management compentencies-strategy making, organization building and enlightened leadership – in the context of the disruptive, hypercompetitive environment of transient advantage.