5 myths about strategy

Click for: original source

Stephen Bungay is author of this summary about 5 myths about strategy. According author there are lies, there are big lies, and then there are myths. And myths are the worst of the three.

Myths present a different, subtler trap, which is what makes even smart people fall for them. They are usually based on a plausible half-truth, and they do not immediately lead you astray if you start to act on them. It’s only with the passage of time that you realize that you’ve made a mistake, but by then your wrong choices can’t be unmade and the damage is done.

The myths mentioned in the article:

  • Strategy is about the long-term
  • Disruptors change strategy all the time
  • Competitive advantage is dead
  • You don’t really need a strategy; you just need to be agile
  • You need a digital strategy

We liked: Thinking about strategy as some kind of long-term commitment can blind you to that need Strategy is not about the long term or the short term, but about the fundamentals of how the business works: the sources of value creation, the drivers of the cost to deliver it, and the basis of competition. Well worth your time!

[Read More]

Tags management big-data data-science miscellaneous agile teams