Developing Strategy
Why Forecasts Fail. What to Do Instead
Managers need to learn from history about what they can and cannot predict, and develop plans that are sensitive to surprises.
Managers need to learn from history about what they can and cannot predict, and develop plans that are sensitive to surprises.
Many companies have trouble making the transition from a failing business model to one that works. Often, one culprit is an inability to experiment.
MIT Sloan School professor Arnoldo C. Hax says that companies need a different approach to thinking about strategy.
Strategy can be thought of as a loop with four steps: making sense of a situation, making choices, making things happen and making revisions.
The importance of properly identifying the strategies, and anticipating the actions, of rivals.
Truly innovative strategy must emanate from more than objective analysis.
A misapplied bottom-up approach can often lead to unintended consequences.
If pricing isn’t a strategic capability — a contributor to a company’s ability to implement its strategy — it’s probably a strategic liability.