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  • Winter 2014
  • Article
  • MIT Sloan Management Review

The Art of Strategic Renewal

By: Andy Binns, J. Bruce Harreld, Charles A. O'Reilly and Michael L. Tushman
  • Format:Print
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Abstract

In recent years, we have seen well-established companies such as Kodak, Blockbuster, Nokia, and BlackBerry pushed to the brink by smart competitors and changes in their industries. In each case, there were opportunities to act before a crisis engulfed the organization. At Kodak, for example, CEO George Fisher attempted to move the company into the digital era in the 1990s. However, he was unable to change course quickly enough. Fisher had an opportunity; his successor had a crisis. What can leaders do before the depth and scope of their companies' crises come into focus? How can they initiate major transformations proactively? As researchers and managers who have been involved in numerous corporate transformations in recent years, we have learned that applying standard formulae to corporate transformations is, at best, ineffective and, at worst, dangerous. What's needed is a new approach that enables executives to transform organizations proactively without resorting to fear.

Keywords

Organizational Change and Adaptation

Citation

Binns, Andy, J. Bruce Harreld, Charles A. O'Reilly, and Michael L. Tushman. "The Art of Strategic Renewal." MIT Sloan Management Review 55, no. 2 (Winter 2014): 21–23.
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About The Author

Michael L. Tushman

Organizational Behavior
→More Publications

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    Leading Disruption in a Legacy Business: A Compelling Growth Ambition Is a Critical Enabler for New Ventures

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    The Translucent Hand of Managed Ecosystems: Engaging Communities for Value Creation and Capture

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More from the Authors
  • Corporate Explorer: How Corporations Beat Startups at the Innovation Game By: Andrew Binns, Charles A. O'Reilly III and Michael Tushman
  • Leading Disruption in a Legacy Business: A Compelling Growth Ambition Is a Critical Enabler for New Ventures By: Andy Binns, Michael Tushman and Charles O'Reilly
  • The Translucent Hand of Managed Ecosystems: Engaging Communities for Value Creation and Capture By: Elizabeth J. Altman, Frank Nagle and Michael Tushman
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