Today’s disruptive start-up companies take advantage of digital technologies to offer quality products at lower costs. Using digital platforms to market directly to consumers, these newcomers bring their products to market quickly and put pressure on legacy companies more rapidly than in the past. Consumers, for their part, appreciate the easy access, convenience, 24/7 support and favorable return policies. Rita Gunther McGrath, a professor of management at Columbia Business School, urges traditional companies to understand and adopt the practices of the digital competition.
About the Author
Rita Gunther McGrath is a professor at Columbia Business School and an expert on strategy, management and innovation in uncertain and volatile environments.