Looking at business news over the past decade (including a few HBR articles), you might assume that just about every traditional company has fallen — or will soon fall — to competitors from the tech industry.

But London Business School professor Julian Birkinshaw says that story of disruption and destruction is overblown. His research into Fortune 500 and Global 500 organizations shows that many industries haven’t been radically remade, despite the rise of a few tech giants like Amazon and Google.

Birkinshaw outlines the strategies that many incumbents, like J.P. Morgan, Disney, and Proctor & Gamble, are using to survive and thrive. He breaks down the benefits and drawbacks of four key strategies that incumbents typically use to compete with insurgents. And he explains how you can decide which strategy best fits your organization.

Key episode topics include: strategy, disruptive innovation, digital transformation.

HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.