When Your Business Model Is in Trouble
An interview with Rita Gunther McGrath. by Sarah Cliffe
Columbia Business School professor RITA GUNTHER McGRATH studies strategy in highly uncertain, volatile environments. She spoke recently with HBR executive editor Sarah Cliffe about how to recognize an oncoming crisis—and seize opportunities to get ahead of competitors.
HBR: Why is there so much interest in business model innovation right now?
McGrath: I see three main reasons. The first is the increasing speed of everything. Product life cycles and design cycles are getting shorter. When the pace of change gets faster, people realize that they need to look for the next big thing. The second issue is inter-industry competition. Competition is coming ...