The Upside of Turbulence: Seizing Opportunity in an Uncertain World

Overview

A provocative user's guide to a world where the only thing that doesn't change is change itself

"Before I die," Albert Einstein once said, "I hope someone will clarify quantum physics for me. After I die, I hope God will explain turbulence to me." Einstein might have been more confused today: Turbulence, in all its manifestations, is on the rise. Financial markets gyrate. Commodity prices zig and zag. New technologies disrupt long-standing businesses and entire industries. Scientific discoveries overturn historical truisms. Dirty bombs and pension busts, natural disasters and flu pandemics, add to the tumult. We live in a world beset by turbulence.

We often respond to turbulence by accelerating activities that worked in the past. We lapse into inertia when we should adapt with agility, and we cling to rigid dogmas when we should improvise. But throughout history, volatility has not only dethroned incumbent leaders, it has also created untold possibilities to create economic value. Turbulence has an upside, and companies that seize the opportunities arising out of seething markets will become tomorrow's champions.

Based on more than a decade of research, The Upside of Turbulence draws lessons from companies that have consistently spotted and exploited opportunities that rivals have missed. The book explores realms ranging from improvisational comedy to the U.S. Marine Corp's combat doctrine. The result is a series of provocative insights that defy conventional wisdom. The book also introduces practical tools, which have been field-tested by executives around the world, to wrestle triumph out of turmoil.

Editorial Reviews

Sull (Why Good Companies Go Bad), professor at the London Business School, inveighs against the business world's terror of change and habitual response of accelerating activities that have worked in the past, a dynamic he terms active inertia. Sull demonstrates how turbulence--his term for rapid and unpredictable changes that influence a firm's ability to create value--provides opportunity for growth (his odd analogy describes how Italians originally thought tomatoes were poisonous; only when they were willing to experiment did they discover the root of their distinctive cuisine). Noting the exceptionally turbulent times we live in, Sull offers practical suggestions (and work sheets) to enhance a company's agility and ability to improvise. Our theories about the future, he reminds us, remain subject to revision or rejection in light of new knowledge that might arise in the future. All our theories will let us down; we just don't yet know how or when. With success stories from such companies as Microsoft and Carnival Cruise Lines, much of the information within is sound, but the lofty tone might make this a tough sell in an already shell-shocked marketplace. (Oct.)
Copyright (c) Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Author Information

Bio of Donald Sull

Donald Sull is a professor of strategy and the faculty director of executive education at the London Business School. He received his bachelor's, master's, and doctorate degrees from Harvard University, where he taught entrepreneurship. Prior to his academic career, professor Sull worked as a consultant with McKinsey & Company and as a management investor with a leveraged buyout firm. He blogs for the Financial Times (www.blogs.ft.com/donsullblog).

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Additional Info

Imprint

Collins Business

Filesize

1.16 MB

Number of Pages

288

eBook ISBN

9780061939815