Many companies struggle to find their competitive advantage in their market as a part of the strategy formulation process. It has been the cornerstone of strategy since the day Professor Michael Porter described it in his 1979 article and launched the concept of sustainable competitive advantage.
Now, Professor McGrath says, “Strategy is stuck”.
Finding a favorable position in a well-defined industry and then exploiting a long-term competitive advantage in that position is not working anymore. The reason is that a position and its advantages are transient in the fast changing market of today. “We need to base our strategies on a new set of assumptions”, Professor McGrath continues.
Read more in the book The End of Competitive Advantage: How to Keep Your Strategy …
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