5. The Road to Reinvention

Reinvention is the process that helps actors move forward in a changing business environment that is likely to undermine them if they do not transform. In fact, changes in the business environment can require businesses to rethink their most basic business equations and their skills sets. Competition will also drive reinvention by encouraging creative destruction, the process through which influential actors reinvent in order to preserve their advantage, and differentiation, the way relatively weaker actors reinvent in order to create a world of their own with no rival. Architects of change embrace reinvention as much as out of taste as out of necessity: unless they move as fast as the business environment, their actions and activities are unlikely to be impactful.