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Using Blockbuster as a prime example, the author describes the three paths to disruption for a modern business. He also explains three seminal theories of disruption: those of Schumpeter, Christensen and Henderson, and concludes that there are two key types of disruption: innovative and architectural. In the end, he shows that successful firms that are disrupted are not necessarily poorly managed: instead, they choose to continue on the path that brought them to success.

To be an innovative leader, you don't have to come up with all the ideas. You just have to set the stage for others to push boundaries, every day. So say the authors, who assessed more than 700 senior leaders using a multi-rater assessment called the Bates Executive Presence Index (ExPIâ„¢). They present their findings on the specific behaviors that leaders demonstrate to foster innovation, which include challenging other points of view in a constructive way and admitting they don't have all the answers. They conclude that, instead of shying away from differences, innovative leaders make it safe-and fun-to have a clash of perspectives.

Humans and businesses alike evolved in a world that was local and linear. But today we live in a world that is global and exponential. The problem, say the authors, is that our brains-and thus our perceptual capabilities-were not designed to process at this scale or speed. Using the example of Kodak's downfall, they show that our linear minds literally cannot grasp 'exponential progression'. They present a framework called 'the Six Ds of Exponentials', which is designed to help today's leaders navigate 'the age of exponentials'-and avoid being disrupted.

In this excerpt from the University of Toronto's Conference on Machine Learning and The Market for Intelligence, senior leaders from Uber, Bloomberg Beta, Stanford and AME Capital discuss how firms are embracing machine learning and artificial intelligence to either disrupt others or avoid being disrupted. They provide a cross-section of viewpoints on strategies to navigate what is becoming an increasingly disruptive economy.

Even in our global, technology-fueled economy, the authors argue that the quality of a firm's relationships-with customers, employees and suppliers-continues to be the single-best predictor of long-term success. The most deeply-networked organizations-like Wikipedia, eBay and Airbnb-soften the line between customers and employees to offer a wide range of relationship options, from 'strictly transactional' to 'enthusiastic participation'. This blurring of roles also influences the organization on the inside, improving employee retention by creating an environment where open communication and personal agency are encouraged.

The authors present research indicating that four key attributes are critical to a robust innovation strategy: an emphasis on speed; the use of technological platforms; well-run (and very often lean) R&D processes; and the systematic exploration of adjacent markets. They discuss how to accomplish each and present examples from the world's most innovative companies, including Zara, GE and W.L. Gore.

Set in 2016, this case describes ING Bank's implementation of a radical new way of working using agile principles. ING's agile way of working has been written up in Harvard Business Review, Sloan Management Review and McKinsey Quarterly. This case provides a detailed account of how the new structure was developed and implemented. The case describes the process of change in ING Bank, from the aftermath of the global financial crisis to 2016. It provides background information on two change initiatives (Tango and Less is More) that simplified and rationalised the bank's activities, then it provides a detailed account of the major transformation that became known as RIO ("Redesign into Omnichannel"). It focuses on the choices made by Bart Schlatmann, COO of the Netherlands business, and his team - to pursue an omnichannel strategy (i.e. where all channels to market are linked together and managed seamlessly) and to build an organisation to support this strategy that drew inspiration from digital companies such as Google, Facebook and Amazon.

Showpad is a growing startup whose founders are considering changes to spur growth. The options include changes to the product line, to pricing, and to sales management practices.

"Keyssa: Unraveling the Laws of Physics" explores the challenges associated with growing a start-up around a brand new technology. In October 2012, Eric Almgren became CEO of Keyssa. Founded in 2009, Keyssa reinvented the physical connector, an essential component in every computing and mobile device around the globe. Using a novel technology called Kiss Connectivity, Keyssa enabled contactless, wireless, secure, instant data flows within and between devices, while freeing product designers from the constraints of bulky but fragile metal connectors. Almgren was confident that this technology would have a huge impact on the next generation of mobile and computing devices. However, he faced several challenges in his efforts to grow Keyssa. Specific obstacles addressed include: replacing an existing CEO; raising money in a challenging fundraising environment; aligning on the company's go-to-market strategy; determining the right approach with regard to industry standards; and assessing opportunities outside of Keyssa's core computing and mobile markets. To Almgren and the Keyssa team, there was little doubt about the endless opportunities for Keyssa's revolutionary technology. Yet they also knew that it was only a matter of time before competitors would develop market ready products across multiple industries. Against that backdrop, Keyssa would need to continue innovating for the customers and industries that mattered most.

The Board of Alere, Inc, a leading medical diagnostic firm, is evaluating the offer made by Ron Zwanziger, the firm's founder and former CEO, to acquire the company and take it private. The offer arrives at the end of a tumultuous year for the company, which saw Zwanziger fighting and ultimately losing a confrontation with activist investors Coppersmith Capital. How should the board evaluate this offer? Should they reject it, on the basis that Zwanziger's decision to expand into integrated healthcare solutions was the main reason behind the company's poor stock performance, as Coppersmith claimed? Or should they once more place their trust in Zwanziger's leadership, and in Alere's ability to effectively implement his vision?

In 2005 Craig Purse, the CEO of Videojet, a company recently acquired by the conglomerate Danaher, is dealing with the unexpected failure of a new high tech printer just launched in the market. The new product exemplified the first real instance in which the Videojet team had used the managerial processes of the Danaher Business System (DBS). Was the failure of the new printer a sign that the DBS was fundamentally inadequate for product development projects? Or was the failure instead a symptom that the Videojet team had not properly adopted the DBS? What should Purse do to correct the course of the company?

In 2005 Craig Purse, the CEO of Videojet, a company recently acquired by the conglomerate Danaher, is dealing with the unexpected failure of a new high tech printer just launched in the market. The new product exemplified the first real instance in which the Videojet team had used the managerial processes of the Danaher Business System (DBS). Was the failure of the new printer a sign that the DBS was fundamentally inadequate for product development projects? Or was the failure instead a symptom that the Videojet team had not properly adopted the DBS? What should Purse do to correct the course of the company?

This module reading describes the basics of building a successful strategy. Topics in this module include a discussion of the distinction between corporate and business strategy; how to conduct a SWOT analysis of market dynamics and internal capabilities; the use of the five forces analysis to understand customers, suppliers, products, and competitors; how to use this analysis to identify unique opportunities to create value for customers; and an overview of the four Ps of strategy implementation (strategy as perspective, position, plans, and patterns of action). The concepts introduced in this module provide the foundation for executing strategy effectively. While this module is designed to be used alone, it is part of the Strategy Execution series. Taken together, the series forms a complete course that teaches the latest techniques for using performance measurement and control systems to implement strategy. Modules 1 - 4 set out the foundations for strategy implementation. Modules 5 - 10 teach quantitative tools for performance measurement and control. Modules 11 - 15 illustrate the use of these techniques by managers to achieve profit goals and strategies. View the full Strategy Execution series at: hbsp.harvard.edu/strategy-execution.

"Organizational agility" is often treated as an immutable quality, implying that firms need to be in a constant state of transformation. However, this ignores that such transformations, while often essential, come at a cost. They are not always necessary, and may not even be possible. This article explores agility at a more fundamental level and relates it more specifically to dynamic capabilities. It demonstrates that it is first essential to understand deep uncertainty, which is ubiquitous in the innovation economy. Uncertainty is very different from risk, which can be managed using traditional tools and approaches. Strong dynamic capabilities are necessary for fostering the organizational agility necessary to address deep uncertainty, such as that generated by innovation and the associated dynamic competition. This article explores the mechanisms by which managers may calibrate the required level of organizational agility, deliver it cost effectively, and relate it to strategy.

The dynamic capabilities framework identifies three components as critical for successful organizational adaptation: sensing, seizing and transforming. By contrasting two distinct business cases, a long-term biofuel investment by DuPont and Novartis's rapid deployment of digital technologies in marketing, this article assesses the managerial implications of each of these components. It develops an embryonic contingency model that illustrates why the relative importance of dynamic capabilities varies across firms. The article also highlights the critical role played by strategic leaders, who must selectively adapt and refine dynamic capabilities and also serve as a last line of defense in times of rapid change.

This article presents a clinical study, based on a decade of ongoing research at Samsung Group, that describes how the Samsung Group and its mobile phone division competed successfully in smartphones. The ability to manage co-opetition-simultaneous forces of competition and cooperation within the business group-is a particular dimension of dynamic capability that has stood Samsung in excellent stead. Relying on internal exhortations to cooperate often leads to a lack of dynamism, whereas untrammeled competition leaves proverbial synergies entirely untapped and spawns duplicative investments. Samsung, however, has succeeded by its ability to strike a balance between the two.

This article describes how hospitals can use the dynamic capabilities framework to achieve competitive advantage in today's difficult healthcare environment.

Yosef Akhtman, CEO and cofounder of Gamaya, and Igor Ivanov, Gamaya's business development manager were elated at the latest news coming from Brazil. After a year of field tests, things were finally falling into place and Gamaya was now able to demonstrate credibly the contributions its drone-born miniaturized hyperspectral cameras could bring to local sugar cane farmers. It was not only the hardware that made Gamaya so special, but also the data analytics that converted the rich data images into valuable crop management information that could immediately be converted into field actions. The client in this case was also an investor in the venture and, as one of the most visible and acclaimed Swiss entrepreneurs, his validation was worth a lot to the company, and that could be a turning point for the company. Even though it had won prizes in venture competitions and research grants from the University lab, this was the first significant investment from a professional investor, and Yosef knew it would open doors for further funding rounds. Questions abounded though: Should they continue to focus on sugar cane farmers or should they move to other crops and geographies? Was the business model appropriate for their activities? How long would it take for the delivery medium, various drones at this point, to be replaced by mini-satellites offering almost real-time monitoring on a larger scale?

At the end of 2013, the leadership of Opec Plastics was pleased with their young company's growth to nearly $200 million in revenues. They had goals to double that in two more years, but were uncertain on how to accomplish this. They had technical expertise in manufacturing plastic bags and related products and trading the raw materials (resins) from which the products were made. Yet, they regarded their core competencies in a more general way: strong relations with people who mattered, in the supply chain, in the regulatory environment, and in financing. The growth options included: • Expansion within existing business lines through scale increases. • Scope expansion to products and services near to their existing activities. • More distant scope expansion to products and services that were not near to their existing activities but still presented opportunities. • Expansion along the vertical value chain. Layered on these issues was the external environment. The prospects for Southeast Asian trade agreements and the Trans Pacific Partnership created new opportunities along the value chain. However, the vagaries of oil prices (the basis for plastics prices), threatened additional uncertainties.

Drybar was launched in 2010 with the tagline "No cuts. No color. Just Blowouts!" by hair stylist Alli Webb and her brother Michael Landau. Blow-drying had long been provided in most hair salons, but was considered an add-on or infrequent stand-alone service that did not incur a significant and consistent revenue stream. Alli recognized an untapped business opportunity in blowout services and turned it into a US$70 million business with 55 locations across the United States in just five years. The case looks at how Drybar changed the concept of professional blow-drying and made it compelling to women regardless of age or background. The case is presented in two parts. Part A describes the industry landscape of the American beauty salon industry in 2008, before Drybar entered the scene. It reviews the nature of the industry throughout history, and the structure and competitive forces that shaped conventional practices. Part B illustrates how Drybar was conceived with a different strategic approach and what made Drybar stand out from conventional hair salons while achieving lower costs. Part B is presented in an innovative cartoon storybook format to help enhance participants' understanding of Drybar's offering through an entertaining experience that is both informative and emotionally engaging. Supplementary Video and Lecture Slides can be obtained at https://www.blueoceanstrategy.com/teaching-materials/drybar/