Publishers Weekly
06/24/2024
Traditional businesses should seek to differentiate themselves from, rather than mimic, big tech companies, according to this shrewd debut. Harvard Business School professor Zhu and Cao, a PhD candidate in the program, examine strategies that companies large and small have employed to stand out in the digital age. Suggesting that brick-and-mortar businesses can use their facilities to connect customers, the authors describe how Powell’s Books in Portland, Ore., fosters community by hosting book clubs. Traditional businesses can utilize internal data in creative ways, the authors argue, noting that Patagonia uses information gleaned from its repair program to guide design modifications (“If a product is returned significantly earlier than the average five- to seven-year lifespan,” the company will adjust how the item is manufactured). Other anecdotes about Domino’s Pizza, PetSmart, Sephora, and Chinese fast fashion retailer Shein expound on how businesses might protect themselves from risk when partnering with tech companies and fight back against Silicon Valley’s incursion into their market space. The case studies buttress the authors’ arguments, though their recommendations to, for instance, cut deals with suppliers to ensure they won’t sell on Amazon will be easier to implement for larger companies, rather than mom-and-pop stores. Still, executives will appreciate the penetrating perspective. (Aug.)
From the Publisher
Advance Praise for Smart Rivals:
"Smart Rivals is an essential playbook for traditional businesses navigating the digital age, offering concise insights and actionable strategies that will enable them to thrive amidst technological disruption. A must-read for any business leader seeking to stay ahead in today's fast-paced marketplace." — Mo Abudu, founder and CEO, EbonyLife Media; philanthropist; and former human resources management consultant
"In Smart Rivals, Feng Zhu and Bonnie Cao masterfully capture what it takes for innovative companies to thrive in a marketplace dominated by tech giants. Their strategic frameworks and real-world examples are a treasure trove for any organization aiming to survive and thrive despite the odds. Whether you're an established player being disrupted or are yourself a startup, Zhu and Cao will provide you with crucial insights into how companies can rally their people, purpose, and strengths to outwit seemingly unstoppable competition." — Hubert Joly, former Chairman and CEO, Best Buy; senior lecturer, Harvard Business School; and author, The Heart of Business
"With rigorous research and real-world examples, the authors brilliantly map out the terrain that will allow traditional businesses to thrive in the digital age." — Marco Iansiti, David Sarnoff Professor of Business Administration and codirector, Digital Initiative, Harvard Business School; coauthor, Competing in the Age of AI
"Smart Rivals is a fascinating read, revealing how businesses can leverage their unique advantages to thrive in an era of constant technological change. Highlighting the importance of digital transformation, including the rise of AI, as a blessing rather than a curse, Feng Zhu and Bonnie Cao have written a powerful guide for business and government leaders alike." — Makan Delrahim, Partner, Latham & Watkins LLP; former Assistant Attorney General, Antitrust Division, US Department of Justice
"Smart Rivals fast-forwards traditional strategy to today's battle with the tech giants. It's the new playbook for this new competition!" — Kathleen M. Eisenhardt, Stanford W. Ascherman, MD, Professor, Stanford UniversitySchool of Engineering; coauthor, Simple Rules
"A groundbreaking work that reimagines the role of traditional companies in the digital era. This book is a must-read for every manager competing in the digital economy." — D. Daniel Sokol, Carolyn Craig Franklin Chair in Law and Business, USC Gould School of Law; Affiliate Professor of Business, Marshall School of Business
