Some experts are becoming increasingly convinced that strategic planning is no longer necessary. Claims that it has lived a long, full life and touched many businesses in a positive way, but failed many as well.
According to Matthew Fenton, there are two primary reasons given for the death of strategy:
- Things change too fast for any strategy to work. In other words, we can’t predict the future, so why bother planning for it? Great companies are first-actors, not a reactors. They define success, they place bets and believe in a return. These leaders exemplify a key point: Smart strategy shapes sectors.
- Our strategy could be wrong, so why bother? A strategy must make assumptions about the future. The more intelligence you gather, the better your assumptions. If your assumptions are often wrong, the problem is not with the field of strategy. It’s in your approach to it.
Business strategy is alive and flourishing. What is dead is bad strategy, but that was never alive in the first place. Smart strategy is the difference between leading and following, between setting the pace and falling behind, between winning and losing.
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