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Smart Rivals: How Innovative Companies Play Games That Tech Giants Can't Win Hardcover – August 20, 2024
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A fresh, research-based look at how companies can better compete, on their own terms, with tech giants—from a Harvard Business School professor and a former Bloomberg journalist.
Companies are fighting the wrong battle. The consensus has been to learn the best practices from tech giants and then imitate them. But new paths for growth aren't created by imitation; they're forged by radical differentiation.
In Smart Rivals, Harvard Business School professor Feng Zhu and former Bloomberg journalist Bonnie Yining Cao show business leaders how to create competitive advantages by offering product features and benefits that tech giants and other competitors cannot match in the digital/AI age.
Taking readers on a global journey, Zhu and Cao showcase a variety of companies—including Domino's, Nike, and Sephora—and fascinating case studies, such as Belle, the leading women's footwear retailer in China; EbonyLife, Nigeria's top media conglomerate; and Telepass, Italy's popular electronic toll payment service. Through these diverse examples, they illustrate how companies identify their path for growth in the digital age by leveraging their unique capabilities.
Drawing on original research and insights gleaned from leaders in a wide range of industries, Smart Rivals is a blueprint for uncovering your company's hidden strengths. It will help you spark innovative solutions and capabilities—including new products, services, strategies, and advantages—that mere imitation could never provide.
- Print length192 pages
- LanguageEnglish
- PublisherHarvard Business Review Press
- Publication dateAugust 20, 2024
- Dimensions6.5 x 0.75 x 9.5 inches
- ISBN-101647826047
- ISBN-13978-1647826048
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Editorial Reviews
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Advance Praise for Smart Rivals:
"Smart Rivals is an essential playbook for traditional businesses navigating the digital age, offering concise insights and actionable strategies that will enable them to thrive amidst technological disruption. A must-read for any business leader seeking to stay ahead in today's fast-paced marketplace." — Mo Abudu, founder and CEO, EbonyLife Media; philanthropist; and former human resources management consultant
"In Smart Rivals, Feng Zhu and Bonnie Cao masterfully capture what it takes for innovative companies to thrive in a marketplace dominated by tech giants. Their strategic frameworks and real-world examples are a treasure trove for any organization aiming to survive and thrive despite the odds. Whether you're an established player being disrupted or are yourself a startup, Zhu and Cao will provide you with crucial insights into how companies can rally their people, purpose, and strengths to outwit seemingly unstoppable competition." — Hubert Joly, former Chairman and CEO, Best Buy; senior lecturer, Harvard Business School; and author, The Heart of Business
"With rigorous research and real-world examples, the authors brilliantly map out the terrain that will allow traditional businesses to thrive in the digital age." — Marco Iansiti, David Sarnoff Professor of Business Administration and codirector, Digital Initiative, Harvard Business School; coauthor, Competing in the Age of AI
"Smart Rivals is a fascinating read, revealing how businesses can leverage their unique advantages to thrive in an era of constant technological change. Highlighting the importance of digital transformation, including the rise of AI, as a blessing rather than a curse, Feng Zhu and Bonnie Cao have written a powerful guide for business and government leaders alike." — Makan Delrahim, Partner, Latham & Watkins LLP; former Assistant Attorney General, Antitrust Division, US Department of Justice
"Smart Rivals fast-forwards traditional strategy to today's battle with the tech giants. It's the new playbook for this new competition!" — Kathleen M. Eisenhardt, Stanford W. Ascherman, MD, Professor, Stanford University School of Engineering; coauthor, Simple Rules
"A groundbreaking work that reimagines the role of traditional companies in the digital era. This book is a must-read for every manager competing in the digital economy." — D. Daniel Sokol, Carolyn Craig Franklin Chair in Law and Business, USC Gould School of Law; Affiliate Professor of Business, Marshall School of Business
About the Author
Feng Zhu, MBA Class of 1958 Professor of Business Administration at Harvard Business School, is an expert on competitive strategies, digital transformation, and innovation. He codirects the Platform Lab at the Digital Data Design Institute at Harvard.
Bonnie Yining Cao is an award-winning former journalist for Bloomberg. She has written extensively about companies in tech and traditional industries in the United States and emerging markets. She is currently pursuing her PhD in business administration at Harvard Business School.
Product details
- Publisher : Harvard Business Review Press (August 20, 2024)
- Language : English
- Hardcover : 192 pages
- ISBN-10 : 1647826047
- ISBN-13 : 978-1647826048
- Item Weight : 15.2 ounces
- Dimensions : 6.5 x 0.75 x 9.5 inches
- Best Sellers Rank: #78,974 in Books (See Top 100 in Books)
- #63 in Computers & Technology Industry
- #120 in Strategic Business Planning
- #533 in Entrepreneurship (Books)
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What sets this book apart is its realistic but thought-provoking approach. Instead of pushing the tired "disrupt or die" narrative, Zhu and Cao offer a nuanced strategy for traditional companies. They argue that becoming a tech giant isn't necessary or even desirable for every business. This resonated deeply with my experiences in the auto industry, where I've witnessed the pitfalls of trying to out-tech the tech companies.
The diverse case studies were a highlight. From Nigeria's EbonyLife to Italy's Telepass, the authors provide a global perspective that's often missing in business literature. These examples aren't just name-drops; they offer concrete insights that I found myself jotting down to share with my team.
The concept of a "smart hybrid" struck a chord with me. It's about selectively adopting platform strategies that complement your existing strengths. This approach aligns perfectly with what I've been advocating in my work - leveraging technology without losing sight of core competencies.
Be warned: this isn't a quick-fix manual. Zhu and Cao challenge readers to deeply analyze their business model and competitive landscape. It's not always a comfortable process, but it's crucial. In my field, where the pressure to digitize is immense, this thoughtful approach is a breath of fresh air.
After finishing the book, I immediately ordered copies for key members of my client's executive team. It's already sparking valuable discussions about our AI implementation strategy and how we can differentiate ourselves in the market.
If you're grappling with digital transformation in a traditional industry, "Smart Rivals" offers a pragmatic and insightful roadmap. It's not just theory - it's a practical guide that you'll be referring back to frequently in your work!
One of the book’s most striking features is its cutting-edge approach to the dynamics between rivals. The content is rich with insights and practical strategies, making it a valuable resource for business leaders, scholars, and entrepreneurs alike. Two figures, in particular, highlight the book’s innovative perspective.
Figure 1-2 titled "Crafting a new path" is a standout. Its relevant content adeptly shows how smart rivals harness digital technology to enhance their unique strengths and establish distinctive platforms. The strategic use of technology enables these companies to create value propositions that are challenging for the tech giants to replicate.
Another noteworthy figure, Figure 2-4, provides a compelling depiction of the concept of diminishing returns with data. It effectively demonstrates that, beyond a certain point, additional data contributes little to further improvements in outcomes. This visual representation is not only insightful but also practical, helping readers grasp the limitations and potential of data-driven strategies.
The book is further enriched by its numerous case studies, particularly those focusing on platform companies and ecosystems in the US and China. These real-world examples ground the theoretical concepts in practical reality, offering readers a nuanced understanding of how these business or digital strategies play out in diverse markets.
So this book is a must-read for anyone involved in big data, artificial intelligence, digital innovation, or platform-based businesses. I highly recommend it!!!
This book challenges the mistaken strategy often adopted by companies, which is to imitate the best practices of tech giants. However, the real path to growth is not built by imitation, but by radical differentiation.
In the book, Feng Zhu and Bonnie Yining Cao take readers on a global journey, showing cases including Domino's, Nike and Sephora, as well as Belle, China's leading women's shoe retailer, EbonyLife, Nigeria's top media group, and Telepass, Italy's popular electronic toll service. Through these diverse examples, they show how companies can find a path to growth in the digital age by leveraging unique capabilities.
Based on original research and insights from leaders in various industries, Smart Rivals reveals hidden advantages for small companies, helping them inspire innovative solutions and capabilities - including new products, services, strategies and advantages - that cannot be achieved through imitation alone. You should read it!
Reviewed in the United States on September 7, 2024