Publisher's Synopsis
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 revitalise traditional business models, offer a richer customer experience, and expand its competitive arena into new digital ecosystems. Series Overview: MIT Sloan Management Review and the MIT Press have joined forces to explore the digital frontiers of management. Books in the "Management on the Cutting Edge" series present original research from leading lights in academia and industry, providing practical advice to business leaders on how to prepare for the exciting - and challenging - future that awaits us.
