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In this visionary book, C. K. Prahalad and Venkat Ramaswamy explore why, despite unbounded opportunities for innovation, companies still can't satisfy customers and sustain profitable growth. The explanation for this apparent paradox lies in recognizing the structural changes brought about by the convergence of industries and technologies; ubiquitous connectivity and globalization; and, as a consequence, the evolving role of the consumer from passive recipient to active co-creator of value. Managers need a new framework for value creation. Increasingly, individual customers interact with a network of firms and consumer communities to co-create value. No longer can firms autonomously create value. Neither is value embedded in products and services per se. Products are but an artifact around which compelling individual experiences are created. As a result, the focus of innovation will shift from products and services to experience environments that individuals can interact with to co-construct their own experiences. These personalized co-creation experiences are the source of unique value for consumers and companies alike. In this emerging opportunity space, companies must build new strategic capital—a new theory on how to compete. This book presents a detailed view of the new functional, organizational, infrastructure, and governance capabilities that will be required for competing on experiences and co-creating unique value.
How legacy firms can combine their traditional strengths with the power of data and digital ecosystems to forge a new competitive strategy for the digital era. How can legacy firms remain relevant in the digital era? In The Future of Competitive Strategy, strategic management expert Mohan Subramaniam explains how firms can leverage both their traditional strengths and the modern-day power of data and digital ecosystems to forge a new competitive strategy. Drawing on the experiences of a range of companies, including Caterpillar, Sleep Number, and Whirlpool, he explains how firms can benefit from data’s enlarged role in modern business, develop digital ecosystems tailored to their unique business needs, and use new frameworks to harness the power of data for competitive advantage. Subramaniam presents digital ecosystems as a combination of production and consumption ecosystems, which can be used by legacy firms to unlock the value of data at various levels—from improving operational efficiencies to creating new data-driven services and transforming traditional products into digital platforms. He explores the ways sensors and the Internet of Things provide new kinds of customer data; presents the concept of digital competitors—other firms that have access to similar data; discusses the new digital capabilities that firms need to develop; and addresses privacy and security issues associated with data sharing. Who needs this book? Any firm that wants to revitalize traditional business models, offer a richer customer experience, and expand its competitive arena into new digital ecosystems.
The world’s foremost business thinkers explore organizations can be redesigned to survive and thrive in tomorrow’s hypercompetitive global environment.
With today’s social and geopolitical order in significant flux this project offers vital insight into the future global order by comparatively charting national media perceptions regarding the future of global competition, through the lens of Ontological Security (OS). The authors employ a mixed-method approach to analyze 620 news articles from 47 Russian, Chinese, Venezuelan, and Iranian news sources over a five-year period (2014-2019), quantitatively comparing the drivers of their visions while providing in-depth qualitative case studies for each nation. Not only do these narratives reveal how these four nations understand the current global order, but also point to their (in)flexibility and agentic capacity for reflection in adapting, even shaping the future order, and their identity-roles within it, around an economic and diplomatic battleground. The authors argue these narratives create trajectories with inertial effects grounded in their OS needs, providing enduring insights into their behavior and interests moving into the future. The Future of Global Coopetition will help readers understand how influential nations typical aligned in opposition to the US, envision the drivers of global competition and the make-up of the future international system. Those engaged in the study of media, global politics, international relations, and communication will find this book to be a critical source.
Argues that the United States and China are in a contest for dominance, alliances, and resources, focusing on the global economic impact of this "cool war" instead of the political consequences.
The Future of International Competition Law Enforcement undertakes an original assessment of the EU's international cooperation agreements in the field of competition law and is uniquely focused on the bilateral sphere, often labelled as a mere 'interim-solution' awaiting a global agreement.
Are you at risk of being trapped in an uncompetitive business? Chances are the strategies that worked well for you even a few years ago no longer deliver the results you need. Dramatic changes in business have unearthed a major gap between traditional approaches to strategy and the way the real world works now. In short, strategy is stuck. Most leaders are using frameworks that were designed for a different era of business and based on a single dominant idea—that the purpose of strategy is to achieve a sustainable competitive advantage. Once the premise on which all strategies were built, this idea is increasingly irrelevant. Now, Columbia Business School professor and globally recognized strategy expert Rita Gunther McGrath argues that it’s time to go beyond the very concept of sustainable competitive advantage. Instead, organizations need to forge a new path to winning: capturing opportunities fast, exploiting them decisively, and moving on even before they are exhausted. She shows how to do this with a new set of practices based on the notion of transient competitive advantage. This book serves as a new playbook for strategy, one based on updated assumptions about how the world works, and shows how some of the world’s most successful companies use this method to compete and win today. Filled with compelling examples from “growth outlier” firms such as Fujifilm, Cognizant Technology Solutions, Infosys, Yahoo! Japan, and Atmos Energy, The End of Competitive Advantage is your guide to renewed success and profitable growth in an economy increasingly defined by transient advantage.
Leading global experts, brought together by Johns Hopkins University, discuss national and international trends in a post-COVID-19 world. The ongoing COVID-19 pandemic has killed hundreds of thousands of people and infected millions while also devastating the world economy. The consequences of the pandemic, however, go much further: they threaten the fabric of national and international politics around the world. As Henry Kissinger warned, "The coronavirus epidemic will forever alter the world order." What will be the consequences of the pandemic, and what will a post-COVID world order look like? No institution is better suited to address these issues than Johns Hopkins University, which has convened experts from within and outside of the university to discuss world order after COVID-19. In a series of essays, international experts in public health and medicine, economics, international security, technology, ethics, democracy, and governance imagine a bold new vision for our future. Essayists include: Graham Allison, Anne Applebaum, Philip Bobbitt, Hal Brands, Elizabeth Economy, Jessica Fanzo, Henry Farrell, Peter Feaver, Niall Ferguson, Christine Fox , Jeremy A. Greene, Hahrie Han, Kathleen H. Hicks, William Inboden, Tom Inglesby, Jeffrey P. Kahn, John Lipsky, Margaret MacMillan, Anna C. Mastroianni, Lainie Rutkow, Kori Schake, Eric Schmidt, Thayer Scott, Benn Steil, Janice Gross Stein, James B. Steinberg, Johannes Urpelainen, Dora Vargha, Sridhar Venkatapuram, and Thomas Wright. In collaboration with and appreciation of the book's co-editors, Professors Hal Brands and Francis J. Gavin of the Johns Hopkins SAIS Henry A. Kissinger Center for Global Affairs, Johns Hopkins University Press is pleased to donate funds to the Maryland Food Bank, in support of the university's food distribution efforts in East Baltimore during this period of food insecurity due to COVID-19 pandemic hardships.
A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and available evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters.