Nathan Furr, strategy professor at INSEAD, looks at Tesla’s multi-pronged strategy for fundamentally changing an entire industry. The core strategy has unique elements at each level of the ecosystem: overturning the core product architecture, positioning Tesla in key bottleneck components, and resolving system-level limitations that slow the adoption of the technology. At the same time, the leadership team has applied an effective approach to building their innovation capital so they can win the resources and support to execute on their vision. Fascinating lessons for all business leaders.
The most successful leaders and companies figure out how to build a “growth engine” – a handful of capabilities that provide real differentiation in the market. Leaders who succeed in creating growth engines have generally internalized 10 key points, according to Colin Thompson. How many have you internalized?
This last month saw the passing of Harvard Business School professor Clay Christensen. In the weeks since, many of his insights on both business innovation and achieving life success have resurfaced. For ambitious business leaders, none is more worthy of reflection than this post from Harvard Business Review. A must-read.