Published by:
Harvard Business Publishing
Length: 3 pages
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Abstract
New research shows that companies really are failing faster than they used to: In particular, digital companies are far more vulnerable to quick imitation than are companies that own factories, products, and supply chains. Vijay Govindarajan and Anup Srivastava, of Dartmouth's Tuck School, offer three strategies for firms looking to boost their longevity: First, companies could incorporate both technology and physical products into their business models. Second, they could strive for models that include strong network effects (think of Facebook's 1 billion users and the hassle that jumping to a rival platform would create for them, because of all the 'reconnecting' they'd have to do). Third, they could increase their focus on continuous innovation - attending to the long term so that they'll still be around after the short term.
About
Abstract
New research shows that companies really are failing faster than they used to: In particular, digital companies are far more vulnerable to quick imitation than are companies that own factories, products, and supply chains. Vijay Govindarajan and Anup Srivastava, of Dartmouth's Tuck School, offer three strategies for firms looking to boost their longevity: First, companies could incorporate both technology and physical products into their business models. Second, they could strive for models that include strong network effects (think of Facebook's 1 billion users and the hassle that jumping to a rival platform would create for them, because of all the 'reconnecting' they'd have to do). Third, they could increase their focus on continuous innovation - attending to the long term so that they'll still be around after the short term.