How Industries Evolve: Principles for Achieving and Sustaining Superior Performance [Hardcover]

Anita M. McGahan (Author)

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Product Details

Hardcover: 245 pages
Publisher: Harvard Business Press; 1 edition (Nov 1 2004)
Language: English
ISBN-10: 1578518407
ISBN-13: 978-1578518401
Product Dimensions: 24.6 x 16.3 x 2.4 cm
Shipping Weight: 581 g
Amazon Bestsellers Rank: #879,039 in Books (See Top 100 in Books)

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Product Description

An Insightful Model for Understanding Industry Change

From Xerox to K-Mart to Sotheby's, great companies have failed to translate extraordinary innovation into better profitability. Why does this happen?

Anita M. McGahan argues that great companies fail to profit from investments in innovation when they break their industries' rules for how change can take hold. In this book, she shows how to develop a strategy that is aligned with the rules of industry change. By understanding and operating within the rules, executives can better appreciate the tradeoffs that are unique to each company's evolutionary path-and consequently improve performance by making smarter, more profitable strategic bets.

How Industries Evolve is based on extensive statistical studies of 700 global industries and more than twenty-five case studies. McGahan identifies four models of industry evolution-progressive, creative, radical, and intermediating-and shows how a company can diagnose which model most closely describes the trajectory of change in its industry. The book then explains how company strategists can use their understanding of this model to carefully coordinate choices about R&D, alliances, internal venturing, leadership style, compensation, modularization, and time-to-market.

By supporting executives' efforts to recognize and respond to shifts in industry structure, this book will ultimately help companies to achieve and sustain superior performance.

About the Author

Anita M. McGahan is Professor and Chairman of Strategy and Policy at Boston University School of Management, and a Senior Institute Associate at Harvard's Institute for Strategy and Competitiveness.

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Amazon.com: 4.1 out of 5 stars (7 customer reviews)

19 of 23 people found the following review helpful

3.0 out of 5 stars Interesting Thoughts on how Industries Evolve and Making it Work, Jun 23 2005

By Fred G. Sanford "Fred G. Sanford" - Published on Amazon.com

This review is from: How Industries Evolve: Principles for Achieving and Sustaining Superior Performance (Hardcover)

Prof. McGahan (BC and HBS) has written an interesting book on how industries evolve and how a business executive can identify those trends and make $ out of it.

These are the key insights from the book,

1. 4 types of industry evolution patterns - Progressive (retail), Creative (pharma), Radical (fedex) and Intermediating (financial brokers).

2. These rules can be applied across core assets or core activities.

3. Two categories of phases of changes - [Fragementation, shakeout, maturity, declining]or [Emergence, Convergenc, Co-Existence and Dominance]

4. Her prescriptive approach to apply it to the industry,

- Identify what is your industry

- Determine Evolutionary Trajectory

- Determine nature of change - architectural/foundational

- Determine phase of change

- Apply principles of competition for each type

5. 2 kinds of tradeoffs - Leading vs. Following, Repositioning vs. Sustaining.

As you can well see these perspectives are not driven from lot of data and hard stats but more conjectures and hypothesis that are not well proven. I am not sure using this approach will help you make $ of money of these trends but it can get you tenureship at the local university.

FGS

4 of 5 people found the following review helpful

5.0 out of 5 stars Academic but worth it, Sep 26 2005

By Marcy "Marcy" - Published on Amazon.com

This review is from: How Industries Evolve: Principles for Achieving and Sustaining Superior Performance (Hardcover)

This book was written by a b-school professor based on many years of research. The framework takes a little while to absorb. We read and reread the book several times. Once we "got it," though, this really made a big difference in helping us understand how our business threatened larger firms. We made much better pricing decisions after reading it.

9 of 14 people found the following review helpful

5.0 out of 5 stars Just Plain Old Logic, Dec 25 2004

By Brian Waldman - Published on Amazon.com

This review is from: How Industries Evolve: Principles for Achieving and Sustaining Superior Performance (Hardcover)

This is a book definitely worth reading. While the concepts can be second nature to someone who considers themselves a strategic thinker, the way Dr. McGahan defines the different types of competitive environments and they ways to achieve success within them is simple and yet insightful. Any business person should put this on their must read list.

› Go to Amazon.com to see all 7 reviews 4.1 out of 5 stars