Staying Ahead of Your Competition (HBR Article Collection)

In today's fast-changing world, trumping rivals is tougher than ever. Incumbency won't help you maintain your edge in the face of constant turbulence. And a crystal-clear strategic direction won't translate into sustainable advantage. Your response? Reinvent your company before you have to: Envision a distinctive future and ask what strategies, capabilities, and organizational structures your firm must build to lead in that future. Conquer denial of imminent change. Present challenges that capture employees' imaginations and clarify success criteria. And remake managerial processes--brand building, decision making, resource allocation--essential for realizing your vision. Consider Whole Foods Market. The grocery chain envisioned creating an organization "based on love instead of fear." Its basic unit isn't the store--but small teams that manage departments, decide what to stock, and make hiring decisions. Bonuses go to teams, not individuals. Ninety-four percent of stock options have gone to nonexecutives. Whole Foods scores the highest profits per square foot in its industry.