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For a variety of reasons, many companies have underdeveloped strategies. Sometimes an underdeveloped strategy is effective — a single spectacular idea can carry a business a long way, even without an explicitly stated strategy. Management intuition and organizational willpower can substitute temporarily as well. However, with the pace of business today, industry leaders need to think through and plan for the next industry lifecycle or risk being dethroned. It is possible in today’s environment to fully engineer a company from a strategic point of view in a way that was unthinkable five years ago.
Approximate Word count = 374 Approximate Pages = 1.5 (250 words per page double spaced)
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