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The quest for resilience.

Gary Hamel1, Liisa Välikangas

  • 1London Business School. ghamel@woodsideinstitute.net

Harvard Business Review
|September 11, 2003
PubMed
Summary
This summary is machine-generated.

In today's dynamic business environment, companies must prioritize strategic resilience. This involves proactively adapting business models and embracing continuous renewal to overcome challenges and ensure long-term success.

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Area of Science:

  • Business Strategy
  • Organizational Behavior
  • Economics

Background:

  • Traditional business models assumed longevity, but current markets demand constant adaptation.
  • Companies like Coca-Cola, McDonald's, and Sun Microsystems face challenges requiring fundamental business model shifts.
  • Sustained success now depends on resilience rather than just momentum.

Purpose of the Study:

  • To define strategic resilience as the ability to anticipate and adjust to deep, secular trends.
  • To emphasize the imperative for companies to reinvent business models and strategies proactively.
  • To explore the multifaceted challenges companies face in achieving strategic renewal.

Main Methods:

  • Conceptual analysis of business model evolution in turbulent markets.

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  • Examination of case studies illustrating the need for strategic adaptation.
  • Identification of cognitive, strategic, political, and ideological barriers to renewal.

    • Main Results:

    • Strategic resilience requires a dynamic capacity for reinvention, not just crisis response.
    • Companies must overcome denial, nostalgia, and arrogance to embrace change.
    • Success hinges on fostering tactical experimentation and reallocating resources effectively.

    Conclusions:

    • Companies must become as efficient at renewal as they are at current operations.
    • Strategic renewal is as critical as optimization for thriving in changing environments.
    • Overcoming internal barriers is key to developing and maintaining strategic resilience.