HBR IdeaCast No, Tech Start-ups Aren’t Taking Over the World
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Feb 1, 2022 In a compelling discussion, Julian Birkinshaw, a Professor at London Business School and author focused on business resilience, debunks the myth that tech start-ups are solely disrupting traditional firms. He shares insights from his research on Fortune 500 companies, revealing how many incumbents, like Disney and JP Morgan, are not just surviving but thriving through strategic adaptation. Birkinshaw emphasizes the importance of leveraging existing strengths, embracing new technologies, and navigating market changes to redefine success in a tech-driven landscape.
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Disruption Narrative Overblown
- The narrative of tech startups disrupting established businesses is overblown.
- Few Fortune 500 companies are new tech startups; most are long-standing businesses.
Media Focus on Big Tech
- Media focuses on big tech companies, amplifying the disruption narrative.
- These companies expand across industries, fueling the idea that no industry is safe.
Successful Incumbents
- Companies like JP Morgan, P&G, and The New York Times have adapted successfully.
- ING Bank and Haier are examples of dramatic reinvention.