Creative Destruction: Why Companies That Are Built to Last Underperform the Market--And How to Successfully Transform Them
| Author | : | |
| Rating | : | 4.62 (953 Votes) |
| Asin | : | 0385501331 |
| Format Type | : | paperback |
| Number of Pages | : | 384 Pages |
| Publish Date | : | 2017-11-08 |
| Language | : | English |
DESCRIPTION:
A solid , thought-provoking book on Business Innovation Foster's previous work - Innovation, the Attackers Advantage, is a masterpiece, and this follow up is an excellent read. An interesting observation at the start contrasts a company trying to excel and innovate, and the market as a Darwinian force, ruthlessly selecting the `best' irregardless of past performance. The message is the same, stark reminder as Clayton Christensen's - past excellence is no guarantee of future survival. Having delivered this baleful message, the book distinguishes between typical management techniques - m. "Three Stars" according to Jin C.. school book. If you liked Ishtar, you'll like this too! A Customer The authors have taken great pains to fill over three hundred pages with completely inane material. Nothing is good about the book besides the title. You might as well read their Harvard Business Review piece and pocket the money. That article was well written but this book is an unneccesary excursion into places that are totally irrlevant. It does offer pearls of wisdom "The basic element of all innovation is creativity" How profound! I am sure McKinsey is silently embarassed about these two. Afterall the McKQuartely is full of e
It is a myth.Corporations operate with management philosophies based on the assumption of continuity; as a result, in the long term, they cannot change or create value at the pace and scale of the markets. Foster and Sarah Kaplan draw on research they conducted at McKinsey & Company of more than one thousand corporations in fifteen industries over a thirty-six-year period. Proposing a radical new business paradigm, Foster and Kaplan argue that redesigning the corporation to change at the pace and scale of the capital markets rather than merely operate well will require more than simple adjustments. Their control processes, the very processes that enable them to survive over the long haul, deaden them to the vital and constant need for change. Using this enormous fact base, Foster and Kaplan show that even the best-run and most widely admired companies included in their sample are unable to sustain their market-beating levels of performance for more than ten to fifteen years. They explain how companies like Johnson and Johnson , Enron, Corning, and GE are overcoming cultural "lock-in" by transforming rather than incremental
The authors write that the "key to their success is the balance they have struck between creativity and destruction--between continuity and change." Their book offers impressive insight into the acts of both breaking down and building up. Striving for excellence or building to last is one thing. Based on a concept first advanced some 70 years ago by economist Joseph Alois Schumpeter, Foster and Kaplan propose that corporations can outperform capital markets and maintain their leadership positions only if they creatively and continuously reconstruct themselves. If its analyses of past performance mean anything, it should prove very interesting to savvy managers as well as long-term investors. Firms that have mastered elements of this practice have done so by innovatively shedding detrimental processes and operations while cleverly spotting and ap