Sink or swim: How to survive waves of change in a fast-paced industry | Rita McGrath

Give yourself the gift of knowledge — subscribe to Big Think Edge: http://bit.ly/bigthinkedge Here's how to best position yourself for taking advantage of the unexpected. - Why are companies like Apple on top of the world while others like Blackberry have been relegated to a minor market share? Why is Netflix king and Blockbuster extinct? Netflix spotted a strategic inflection point and capitalized on it, says Rita Gunther McGrath. - A strategic inflection point is a shift in the external environment that changes the assumptions upon which a business is based—it could be technology, social norms, or a company's reputation. People and organizations who see inflection points early and respond to them with a small investment or an experiment have an advantage. They will swim while their competitors may sink. Rita Gunther McGrath, a professor at Columbia Business School, is one of the world’s top experts on innovation and growth. She is the best-selling author of The End of Competitive Advantage (Harvard Business Review Press, 2013). Her new book Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen (https://amzn.to/357lJg9) If you're interested in licensing this or any other Big Think clip for commercial or private use, contact our licensing partner Executive Interviews: https://ift.tt/2IQF1gR Follow Big Think here: YouTube: http://goo.gl/CPTsV5 Facebook: https://ift.tt/1qJMX5g Twitter: https://twitter.com/bigthink