Strategy today demads more tha classic competitive positio-ig. It requires makig carefully coordiated choices about the

opportuities to pursue; the busiess model with the highest potetial

to create value; how to capture as much of that value as possible; ad

the implemetatio processes that help a firm adapt activities ad build

capabilities that allow it to realize log-term value. Neglectig ay of

those imperatives ca derail a strategy,but CEOs frequetly zero i o

just oe. Etrepreeurs ted to focus o idetifyig a golde

opportuity ad do’t thik eough about how to moetize it; leaders of

icum-bets, o capturig value but ot ew ways to create it.

By tacklig all the elemets of strategy ad itegratig them

well,however, firms will greatly icrease their odds of success.

HBR Reprit R2104EStrategy today demads more tha classic competitive positio-ig. It requires makig carefully coordiated choices about the

opportuities to pursue; the busiess model with the highest potetial

to create value; how to capture as much of that value as possible; ad

the implemetatio processes that help a firm adapt activities ad build

capabilities that allow it to realize log-term value. Neglectig ay of

those imperatives ca derail a strategy,but CEOs frequetly zero i o

just oe. Etrepreeurs ted to focus o idetifyig a golde

opportuity ad do’t thik eough about how to moetize it; leaders of

icum-bets, o capturig value but ot ew ways to create it.

By tacklig all the elemets of strategy ad itegratig them

well,however, firms will greatly icrease their odds of success.

HBR Reprit R2104E哈佛商业评论 2021年8月版

《哈佛商业评论》出版集团

Harvard Busiess Review Group, www.hbr.org

总编辑 Editor-i-Chief

Adi Igatius

《财经》·《哈佛商业评论》中文版

Harvard Busiess Review Chiese Editio, hbrchia.org

总编辑 Editor-i-Chief

王波明 Wag Bomig

主管：中国证券市场研究设计中心

主办：中国证券市场研究设计中心哈佛商业评论 2021年8月版

《哈佛商业评论》出版集团

Harvard Busiess Review Group, www.hbr.org

总编辑 Editor-i-Chief

Adi Igatius

《财经》·《哈佛商业评论》中文版

Harvard Busiess Review Chiese Editio, hbrchia.org

总编辑 Editor-i-Chief

王波明 Wag Bomig

主管：中国证券市场研究设计中心

主办：中国证券市场研究设计中心联合出品人 Co-Publisers

刘霄 Liu Xiao 何刚 He Gag

执行出品人 Executive Publiser

齐馨 Qi Xi

主编 Editor

何刚 He Gag

副主编 Executive Editors

齐馨 Qi Xi 钮键军 Niu Jiaju

助理主编 Assistat Editor

李全伟 Li Quawei

编辑总监 Editorial Director

李源 Li Yua

高级编辑 Seior Editors联合出品人 Co-Publisers

刘霄 Liu Xiao 何刚 He Gag

执行出品人 Executive Publiser

齐馨 Qi Xi

主编 Editor

何刚 He Gag

副主编 Executive Editors

齐馨 Qi Xi 钮键军 Niu Jiaju

助理主编 Assistat Editor

李全伟 Li Quawei

编辑总监 Editorial Director

李源 Li Yua

高级编辑 Seior Editors时青靖 Shi Qigjig 腾跃 Teg Yue

高级编译 Seior Articles Editors

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撰稿 Writer

齐菁 Qi Jig

编译 Articles Editor

王晨 Wag Che

新媒体中心总经理 Geeral Maager of New Media Ceter

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新媒体中心总监 Director of New Media Ceter

金洛佳 Ji Luojia

高级新媒体编辑 Seior Digital Editors

齐心 Qi Xi 林菘 Li Sog时青靖 Shi Qigjig 腾跃 Teg Yue

高级编译 Seior Articles Editors

刘铮筝 Liu Zhegzheg 刘筱薇 Liu Xiaowei

高级撰稿 Seior Writer

廖琦菁 Liao Qijig

撰稿 Writer

齐菁 Qi Jig

编译 Articles Editor

王晨 Wag Che

新媒体中心总经理 Geeral Maager of New Media Ceter

麻震敏 Ma Zhemi

新媒体中心总监 Director of New Media Ceter

金洛佳 Ji Luojia

高级新媒体编辑 Seior Digital Editors

齐心 Qi Xi 林菘 Li Sog新媒体编辑 Digital Editors

周强 Zhou Qiag 张梓豪 Zhag Zihao

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执行副总经理兼商业合作总监 Executive Vp & Director of 新媒体编辑 Digital Editors

周强 Zhou Qiag 张梓豪 Zhag Zihao

高级创意编辑 Seior Creative Desiger

崔晓晋 Cui Xiaoji

特约设计师 Freelace Desiger

瞿中华 Qu Zhoghua

流程编辑 Flow Editor

苏然 Su Ra

人事行政总监 HR Admiistratio Director

郝晶 Hao Jig

总经理 Geeral Maager

刘霄 Liu Xiao

执行副总经理兼商业合作总监 Executive Vp & Director of