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Which Technology to Change? |
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Pfeffer reminds us that competitive advantage always arises out of a long-term strategic perspective, and that the purchase of turn-key technologies is a short-term, goal seeking behaviour. This is because you cannot plan far in advance which technologies to buy, simply because you cannot predict which will be desirable or even available. Moreover, as the complexity and sophistication of technologies increase, the utility life span of the technology decreases.
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Pfeffer, Jeffrey. Competitive Advantage Through People: Unleashing the Power of the Workforce. Harvard Business School Press. Boston, MA. 1994.
Pfeffer begins by debunking Porter's famous "five forces" framework, which describes the competitive forces which supposedly determine a company's ability to earn above-average returns. He goes on to illustrate how a company's only source of sustainable competitive advantage is its workforce, and describes the alternative management practices which can bring the full potential of this advantage to the competitive battlefront.
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This book is a rich source of advice and insight for executives in today's highly competitive and constantly changing marketplace, and should be required reading for managers in unionized workplaces.
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