The task of continuously renewing a company is the greatest
challenge confronting any chief executive. To enable managers to
project renewal strategies likely to win in the future, Jeffrey
Williams has constructed a dynamic road map of outcomes in what he
calls "economic time," based on a ten-year study of growth,
decline, and renewal patterns of hundreds of companies in
forty-five industries. In this superbly readable book, Williams's
revolutionary, award-winning concept of slow-, standard-, and
fast-cycle economic time provides a unifying business language that
the multicycle manager can use to compare the renewal opportunities
of widely diverse products, companies, and markets. Using examples
and studies from companies such as Starbucks, McDonald's, UPS,
Compaq, Sony, Merck, Disney, Toyota, IKEA, Microsoft, Sony, Intel,
IBM, Johnson & Johnson, Chrysler, and Hewlett-Packard, Williams
explains that the key idea in economic time is being able to manage
products and organizations according to the speed and means by
which economic value arises, decays, and is renewed. The drivers of
economic time are isolating mechanisms -- a firm's unique
capabilities that lie at the heart of its competitive advantage --
and that, in Williams's framework, "delay" product obsolescence.
Building on his intuitively appealing model, Williams describes how
his three laws of renewal -- convergence, alignment, and renewal --
provide guidelines by which managers can gain command over strategy
in complex, dynamic competitive situations. Renewable Advantage is
not only essential reading but also will become a standard
reference for senior and division managers, business scientists and
strategists, and general managers in all industries.
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