Game-Changing Strategies: How to Create New Market Space in Established Industries by Breaking the Rules: 179 (Jossey-Bass Leadership Series) - Hardcover

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The Author

Constantinos Markides is professor of Strategic and International Management and holds the Robert P. Bauman Chair of Strategic Leadership at the London Business School. He is also the chairman of the Strategic and International Management (SIM) Department at LBS. He is the author or coauthor of six other books including All the Right Moves, Strategic Thinking for the Next Economy, The Future of the Multinational Company, and Fast Second.

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Praise for Game-Changing Strategies

"This is the most exciting book I have read in years! Clearly written and crammed with interesting ideas that are brought to life with real-company examples, Game-Changing Strategies will change the way managers approach strategy-making in their organizations. Should be required reading for top executives and anyone interested in business-model innovation."
?Peter Schou, founder and former CEO, Lån & Spar Bank A/S, Denmark; administrator and director, Lån & Spar Fond

"Costas Markides really understands what it takes to innovate in a large corporation. This clear-eyed analysis cuts through the complexity that has muddied our understanding of strategic innovation, then does what so few other books on the topic have done: it provides practical guidance on how to implement the change. Academics will admire it for the powerful concepts, but executives will devour it for the practical insights. This is not a book for the corporate library; it belongs on the desk of any serious manager?and within easy reach."
?Christopher A. Bartlett, Thomas Casserly Professor of Business Administration, Emeritus, Harvard Business School

"Business-model innovations can change the rules of an industry and unlock enormous sources of new value. Yet many companies find changing their business model a hazardous and sometimes fatal journey. Game-Changing Strategies provides a fresh and insightful perspective on how companies can navigate this journey successfully and profit from business-model change. Based on a decade of research and filled with real-world examples, the book shows how managers of both established and entrepreneurial companies can change, and raise, their game."
?Eric D. Beinhocker, author, The Origin of Wealth

"By emphasizing the organizational challenges of implementing radical new business models, Game-Changing Strategies provides a useful road map to companies that aspire to innovate in their business model. ?I thoroughly recommend this book to those courageous enough to consider breaking the rules in their industries."
?Mark Price, managing director, Waitrose, United Kingdom

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Game-Changing Strategies

Companies that develop new radical business models in established industries?and in the process, break the rules of the game in those industries?can enlarge the market and create enormous value for themselves. Just consider companies such as Amazon, Starbucks, IKEA, and Dell.

While everybody agrees with this idea, few seem to appreciate that the majority of new business-model innovations are introduced by newcomers in an industry. Established firms appreciate the need to break the rules as much as start-up firms. They also possess many more resources, skills, and technologies to do so effectively. Yet they continue to allow new firms to take the initiative when it comes to business-model innovation. The question is why?

Game-Changing Strategies explains the reasons behind this puzzle and presents practical ideas on how established firms can not only discover radical new business models but also grow them next to their existing business models. The challenge for established firms is not the discovery of a new business model?the real challenge is how to make two business models coexist. This book offers advice on how established firms can implement structures and processes that make the new business model less conflicting and more palatable to the existing business.

The book also examines the incentives that drive established firms to pioneer new radical business models in their industries and describes how they can do it. In addition, it explores the challenge of responding to the invasion of a new business model and examines the various response options available to established companies. Game-Changing Strategies cautions that even though business-model innovation is difficult for established firms, they still must approach it in a proactive manner.