The Ultimate Competitive Advantage (Review and Analysis of Mitchell and Coles' Book)
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About this ebook
This complete summary of the ideas from Donald Mitchell and Carol Coles' book "The Ultimate Competitive Advantage" shows that the most successful companies are consistently experimenting to improve and reinvent their business models. This usually has the potential to generate far more substantial increases in revenues and profits than any amount of fine-tuning of an existing business model will ever produce. In their book, the authors present a four-step process that companies tend to use in practice. This summary provides readers with an effective method for improving a business model.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "The Ultimate Competitive Advantage" and find out how you can increase your profits by reinventing your business model.
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The Ultimate Competitive Advantage (Review and Analysis of Mitchell and Coles' Book) - BusinessNews Publishing
Book Presentation The Ultimate Competitive Advantage by Donald Mitchell and Carol Coles
Book Abstract
About the Author
Important Note About This Ebook
Summary of The Ultimate Competitive Advantage (Donald Mitchell and Carol Coles)
Step 1: Companies learn how to do one reinvention
Step 2: A more ambitious reinvention is tackled
Step 3: Reinvention becomes a recurring activity.
Step 4: New targets of opportunity are sought.
Book Abstract
MAIN IDEA
What will generate more benefits for a company – regularly upgrading to a new business model or attempting to enhance the efficiency of the way the company currently operates?
The most successful companies are those that are consistently experimenting to improve and reinvent their business models. This usually has the potential to generate far more substantial increases in revenues and profits than any amount of fine tuning of an existing business model will ever produce. In practice, companies tend to go through a sequence of four steps:
Business model obsolescence is the major unperceived opportunity for and threat to all businesses now. Right now, you are probably ignoring a competitive vulnerability that can literally put you out of business in the next few years. Existing business models in most companies change only every few decades, if ever. Continuation of this trend means that improved business models will replace technology as the most frequent and most powerful source of business disruptions. This shift will occur because most business model improvements can be designed and implemented faster than new generations of technology. Because of the huge rewards for business model innovation, major generations of new business models will probably emerge in each industry.
– Donald Mitchell and Carol Coles
About the Author
DONALD MITCHELL is CEO and chairman of his own consulting firm, Mitchell and Company. A graduate of Harvard College, Harvard Law School and Harvard Business School, Mr. Mitchell specializes in business strategy. Prior to founding his own firm in 1977,