“Understanding when and how to change is the essence of strategy”
Here are some of the best snippets from this MIT Sloan Management Review article below from our perspective.
What do you see in this space?
“A fundamental assumption underlying traditional approaches to strategy is that industry boundaries and economics remain broadly stable over time. This assumption is no longer realistic.
Approaches that help you spot the opportunities and challenges that exist or are emerging in your specific context are now more relevant than traditional strategy frameworks.
When environments are complex and dynamic, strategy is about adaptability.
Digital technologies and other factors have caused the average age of the companies in the S&P 500 to decline from more than 60 years in 1958 to less than 20 years today.
Strategy development has become more complex because companies need to show they are actively contributing to broader society rather than simply serving as financial entities
The most successful businesses today are those that identify when and how to change to improve their strategic advantage”
Full article: The Essence of Strategy Is Now How to Change