Rita Gunther McGrath, a Professor at Columbia Business School, is a globally recognized expert on strategy in uncertain and volatile environments. Her thinking is highly regarded by readers and clients who include Pearson, Covidien, Coca-Cola Enterprises, General Electric, Alliance Boots, and the World Economic Forum. She is a popular instructor, a sought-after speaker, and a consultant to senior leadership teams. She was recognized as one of the top 10 management thinkers by global management award Thinkers50 in 2013, and won the award for outstanding achievement in the strategy category.

She’s also been recognized as one of the top ten business school professors to follow on Twitter, and was named one of the 25 smartest women to follow on Twitter by Fast Company magazine. In 2009, she was inducted as a Fellow of the Strategic Management Society, an honor accorded those who have had a significant impact on the field. She serves as Dean of the Fellows. McGrath is the co-author of three books in addition to her brand new book The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast As Your Business (Harvard Business Review Press).

On the show, Rita began by discussing her new book, The End of Competitive Advantage. In addition, she talked about companies that tend to continue to grow their bottom lines for ten years straight and how these companies aren’t really making fundamental business changes all the time, so much as they are continuously reconfiguring and deftly (re)allocating resources, with such examples as Infosys and Gore. These companies maintain stability in culture and trust while moving around internal elements of their companies. Finally, she advised managers to look for smart ways to fail, such that you can learn from it, and then make sure you have the time and resources to actually do so.