The Covid-19 crisis caused massive disruptions to businesses around the
world. Many were caught unprepared by the pandemic, putting some in
danger of collapse. But not all were equally affected--some emerged from
the crisis in a position of advantage. Research on corporate performance
over decades shows that the dispersion between companies consistently
increases in times of crisis. In other words, resilience to unexpected
shocks has a disproportionate impact on long-term competitive advantage.
Furthermore, ongoing trends are making it harder for businesses to
sustain success over time. New offerings are being adopted, matched, and
made obsolete faster, and competitive advantage is becoming less
durable. In order to survive in the long run, businesses must reinvent
themselves regularly--doing the same thing over and over will eventually
lead to failure.
Many business leaders are now expressing an intention to make their
companies more resilient, but there is not yet a well-codified playbook
for doing so. This book, drawing on research from the BCG Henderson
Institute over many years, provides a set of perspectives on how to
thrive under adverse conditions and how to reinvent businesses for the
changing context. Overcoming both of these challenges is necessary for
leaders to build long-lasting companies.
