It hardly needs to be said, but we live in uncertain times. The Covid-19 pandemic, the war in Ukraine, the reshuffling of supply chains and capital structures — the past few years have seen unprecedented disruptions, and the turmoil shows little sign of letting up any time soon. Challenges abound, and companies are finding it nearly impossible to plan for the future. Such a volatile environment requires a new approach to devising strategy.
4 Steps to Creating a Strategy in an Uncertain World
Focus less on what your company can do and reimagine what it could do.
June 03, 2022
Summary.
The past few years have seen unprecedented disruptions, and companies are finding it nearly impossible to plan for the future. Such a volatile environment requires a new approach to devising strategy. Turning a world of uncertainty into a world of possibility requires a change of perspective, a new mindset on the part of business leaders. Companies need a different approach to devising strategy, one that relies less on looking at what the company can do and more on imagining what it could do — and then doing whatever is necessary to make that possible, however much it goes against past assumptions and established practices. The author offers a four-step approach to redefining strategy.
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Sharpening Your Business Acumen Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Take your career to the next level by learning business and finance basics, and developing an enterprise mindset.