The old ways of creating competitive advantage for your business–such as building moats to ward off competitors–have become dangerous. Giants like Amazon and Alibaba are creating vast new market spaces through a deft combination of tools like machine learning and business savvy that reimagines customer experiences while generating immense shareholder value.
A handful of traditional companies, including Fidelity Investments, Walmart, and B2W, have adopted these new approaches to reinvigorate their businesses. Most, however, are stalled–and the clock is running out.
In this lively, accessible guide, Ram Charan, bestselling author and adviser to some of the world’s top CEOs and boards, redefines competitive advantage for the digital-first era, offering a set of new rules to get ahead:
– Create an ecosystem with third-party partners to revolutionize and personalize the customer experience.
– Empower teams focused on a single task, building a “social engine” that drives constant innovation, fast execution, and customer satisfaction.
– Attract funders who understand the big picture: that beyond a certain scale, major upfront spending will turn into a cash-generation machine.