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They have worked out how to experiment rapidly, frequently, and economically-not only with products and services but also with business models, processes, and strategies. Those that thrive are quick to read and act on signals of change. Instead of being really good at doing some particular thing, companies must be really good at learning how to do new things.
So where does it come from? Increasingly, managers are finding that it stems from the “second-order” organizational capabilities that foster rapid adaptation. Sustainable competitive advantage no longer arises exclusively from position, scale, and first-order capabilities in producing or delivering an offering. The answers these companies are coming up with point in a consistent direction.
And, perhaps most important, they have learned to unlock their greatest resource: the people who work for them. They have acquired the skills to manage complex multistakeholder systems in an increasingly interconnected world. They have worked out how to experiment rapidly and frequently not only with products and services but also with business models, processes, and strategies. Those that thrive are quick to read and act on weak signals of change. In this period of risk and uncertainty, more and more managers are finding competitive advantage in organizational capabilities that foster rapid adaptation. But globalization, new technologies, and greater transparency have combined to upend the business environment. Traditional approaches to strategy assume that the world is relatively stable and predictable.