Strategy as wicked problem

Over the past 15 years, I've been studying how companies create strategy—the most important responsibility of senior executives. Many corporations, I find, have replaced the annual top-down planning ritual, based on macroeconomic forecasts, with more sophisticated processes. They crunch vast amounts of consumer data, hold planning sessions frequently, and use techniques such as competency modeling and real-options analysis to develop strategy. This type of approach is an improvement because it is customer- and capability-focused and enables companies to modify their strategies quickly, but it still misses the mark a lot of the time.

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