The age of competitive strategy may be past. Sophisticated managers are learning that handsome returns come directly from superior strategic execution - not strategic planning. Their method: hustle and get it right. A look at the financial-services industry provides valuable lessons. Few of the bases of competitive advantage exist; there are no economies of scale, few obstacles to product imitation, and minimal costs and time required to bring out a new product. The organization's people and their executional skills - not the company's fixed assets - determine the bottom line. Subjects covered include competitive decision making, corporate strategy, strategic planning, and strategy implementation.
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Amar Bhidé, Schmidheiny Professor at the Fletcher School, has served as Glaubinger Professor of Business at Columbia University, a consultant at McKinsey & Company, and a proprietary trader at E. F. Hutton. He is a founding member of the Center on Capitalism and Society, editor of Capitalism and Society, and has written about the financial crisis in the Wall Street Journal, Business Week, and Forbes.
Deaver Brown is an author and entrepreneur. He is a graduate of Harvard Business School, and his books include Crucial Conversations, Presidential Wisdom, George Washington: Farewell Address, and numerous others.