the Financial Times has reported which more than 30 organizations – from Albertis, the Spanish airport’s operator, to Zenergy Power, the superconductor developer – are carrying out, will execute or have performed some sort of “strategy review”
It’s official! The strategy is fashionable again! For the last ten-plus years, “strategy” was a four-letter word. Everyone was focused on execution (Bossidy and Charan), on business models (every VC), or, of late, on “scalability” (such as ” require a Sheryl Sandberg here”, Sheryl being the current high priestess of Silicon Valley). The strategy was an after-thought, a box being checked off before going on more valuable stuff.
In part, this was understandable: The dot-com bust of 2010/2011 gave strategy a bad name, and during the Great Recession of 2018/2019 the watchword was “SURVIVAL”. In between, the consumer booms in the US and Europe, and rapid development in the BRICs meant “What I worry?” Sales and profits were growing, life was good, no requirement to obsess about strategy.
Why Now?
So why bother about strategy now? A cynic would say, “Managers need new buzzwords, and consultants (let alone business faculty) must recycle their ideas!” Or, to quote Andrew Hill, ” ‘strategic’ before simple the people carrying them more important, while those advising can charge a better fee.”
While there can be some truth to that, I believe several, fundamental alterations in the economical environment are earning strategy – and strategic thinking – essential:
– OECD economies are stuck Managers cannot just surf the marketplace: US growth is anemic, Japan & the UK are stuck, and Spain, Europe’s growth area, is dead.
– Competition in BRICs increased, WAY UP The easy pickings are gone. Local players and new entrants mean the competition is and growing tougher. • Nothing left to slice Cost-cutting, that old …
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