Smart Rivals: How Innovative Companies Play Games That Tech Giants Can't Win

by Feng Zhu, Bonnie Yining Cao

A new, researched-based look at how traditional or smaller companies can better compete with Big Tech on their own terms—from a Harvard Business School professor and a former Bloomberg journalist. Companies are fighting the wrong battle. The consensus has been to learn the best practices from Big Tech and imitate them. But new paths for growth aren't created by imitation; they're forged by radical differentiation. In Smart Rivals , Harvard Business School professor Feng Zhu and former Bloomberg journalist Bonnie Cao show business leaders how to create new competitive advantages by offering product features and benefits that tech giants and other competitors cannot match. Zhu and Cao bring readers across the globe, revealing how big conglomerates—Coca-Cola, Ping An, and AB InBev—and scrappy upstarts—an Italian toll payment platform, a Chinese footwear retailer, a Nigerian media company, and scores of others—have managed to thrive by tapping into their unique capabilities. Based on original research and insights gleaned from leaders in a wide-range of industries, Smart Rivals will help you find new capabilities that mere imitation could never provide and lead to new products, services, strategies, and advantages.

Genres: Business, Nonfiction

192 pages, Hardcover

Published August 20, 2024

Reviews

[Mae B · Rating 4 out of 5]

A solid read. I liked the breakdown of different company approaches. Well written and easy to digest.

Thanks to NetGalley and the Publisher for the arc.

[Min Yen · Rating 2 out of 5]

The book feels like a compilation of the case studies I explored during my university marketing course assignment.

[Miaomiao · Rating 5 out of 5]

I first learned about this book from an industry friend who works as a software engineer at Bloomberg. He mentioned that a CEO of a Japanese company recommended it to him and that he is helping the authors translate it into Japanese so more people in Japan can access it. Interestingly, I recently discovered that it was also featured in The Wall Street Journal: Holiday Gift Books - Business: https://www.wsj.com/arts-culture/book....

Reading this book felt like having the privilege of sitting in a Harvard Business School classroom. The key concepts and teaching notes are brilliantly organized and presented in a clear and engaging way. Highly recommend!

[Tanvi · Rating 5 out of 5]

An easy read with the fundamental hypothesis being that traditional business need not try to compete to catch up with the digital natives like Amazon etc but rather outsmart them at their own game by crafting new ways of value creation for customers using tech. I liked that they used examples from non American companies as well which makes for a greater accessibility. Trouble with such books is that stories based on tech can sometimes become outdated quickly because tech itself is evolving so quickly, never the less interesting stories like how Coke is using AI to harvest data from users are bound to give you new ideas for your own work. Overall it was an easy read as well.

[Reader · Rating 5 out of 5]

I got this book as a holiday gift from one of my college friends who works at one of the companies spotlighted in the book. She told me the authors were able to distill the "gist" of learning and experience they have been through and articulate very well from an almost protagonist's perspective how the C-level execs made crucial decisions in the age of digital transformation. A lot of the same lessons apply to nowadays AI gold rush. Planning to read this book during the Christmas break!

[Mikhail Filatov · Rating 2 out of 5]

A set of very short cases with artificial groupings. Authors even themselves refer to the same cases as examples of different approaches. And, of course, standard “Halo effect”, when random metrics are used to define the success post hoc.

[Sasha Mircov · Rating 2 out of 5]

The book is a list of digital innovation use cases without much rhyme or reason, and with substantial disregard for the context and idiosyncrasies of each case.

[Kevin Acton · Rating 4 out of 5]

I enjoyed the case studies in this book. It is fun to read and learn about companies I know.

[Martín Vizcaíno · Rating 5 out of 5]

Definitely a guide I will use on how to define my business strategy.

[Katie · Rating 4 out of 5]

I blazed through this one. Short and sweet and to the point. The problem was ... it was a little too short and sweet, and not enough to the point. The authors cover a variety of cases where traditional business have either succeeded or failed in their modern quest against big tech industry. They argue that these companies must "craft their own path" and lean on what's special about not being digital-first. We have to rely on the author's interpretation of these cases. There's not really enough detail for the reader to judge. On top of that, a lot of successes and failures appear to have been a factor of events beyond any company's control, such as world-disruptors like COVID-19. Still, the argument could be made that some companies rose to the challenge better than others ... I just couldn't place how traditional companies that acted as "smart rivals" outpaced tech giants there. Going with the example: A traditional company goes digital in COVID-19; a digital one stays the course or buys up successful counterparts; each constrained by their starting points; and the economic world goes round. I did enjoy reading about the diverse range of case studies, even if I wasn't quite on board with the smart rival concept. From Anker to Zé to Coca-Cola, on to various countries' responses to big tech disruptions, there's enough variety of contemporary material to get a sense of modern business savvy in the digital age.

Thank you to NetGalley and Harvard Business Review Press for the advance copy.

[Darya · Rating 5 out of 5]

An absolutely must read book for corporate leaders and startup founders because of the structured ideas on go to market strategies and adopting existing strategies to reality disruptive factors. Most exciting are the examples of companies who thrived through challenges by building ecosystem, adopting to technologies that entered their traditional way of doing business by storm, focusing on customers in a creative way to deliver value. It should be always a top priority for any business to have an agile and innovative strategy that can be flexible and winning based on reality rather than catching up with consequences of long term thinking process. The approach of dealing with known through the lense of uncertainty definitely stood out for me in this book.
The book offers a refreshing and insightful perspective on how smaller companies and traditional firms can effectively compete against the formidable forces of Big Tech. This well-researched book challenges the prevailing notion that imitation of successful practices is the key to thriving in today's competitive landscape. Instead, the authors advocate for a strategy rooted in radical differentiation, illuminating new pathways for growth and innovation.

The authors draw on their extensive backgrounds—Zhu as a Harvard Business School professor and Cao as a former Bloomberg journalist—to present a compelling argument backed by original research and a wealth of case studies. By showcasing a diverse array of companies, from industry giants like Coca-Cola and AB InBev to agile start-ups in various sectors, they illustrate that success lies in leveraging unique capabilities rather than simply mirroring the tactics of larger competitors.

What stands out in Smart Rivals is the practical guidance offered to business leaders. Zhu and Cao emphasize the importance of identifying and capitalizing on distinctive product features and benefits that set companies apart from tech giants. Their real-world examples provide invaluable insights into how businesses can thrive by tapping into their unique strengths, regardless of size or industry.

The narrative is engaging and accessible, making complex concepts easy to grasp for readers at any level of expertise. Each chapter is filled with actionable strategies that inspire creativity and encourage leaders to think outside the box. By reframing the competitive landscape, the authors empower organizations to redefine their value propositions and carve out their own niches.

Smart Rivals is not just a book about competition; it’s a manifesto for innovation. It challenges businesses to move beyond imitation and embrace their individuality as a source of strength. For anyone looking to navigate the complexities of the modern business world and find their edge against tech giants, this book is an essential read. It’s a game-changer that equips leaders with the tools they need to forge their own paths to success in a landscape that is constantly evolving.

[Adam · Rating 1 out of 5]

I picked up Smart Rivals: How Innovative Companies Play Games That Tech Giants Can't Win by Feng Zhu intrigued by its premise. Unfortunately, the book fell short of expectations. It reads more like a book required to fulfill a quota by a professor, and it sometimes feels as if it was assembled with AI assistance. It’s not that it’s entirely uninformative, but it lacks depth.

The examples, while relevant, feel surface-level. For instance, the case of Domino's leveraging technology to enhance its business is a strong choice, but it doesn’t go far enough. Tangible metrics—like changes in sales or cost savings—would have added clarity to the business impacts. Similarly, insight into implementation processes and challenges would have elevated the example from mere mention to a more actionable case study. Achieving that depth may not be easy, but it’s what would make this book stand out.

The book’s core takeaway is that technology can enhance a business's potential, illustrated through various examples, though none are particularly groundbreaking. It might appeal to older consultants or executives unfamiliar with tech strategies, but I wouldn’t recommend it broadly. It could serve antiquated companies looking for a nudge toward tech integration—if such companies are still around.