Chapter 6: What’s to be Done?

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Chapter 6 explores how the problems of Strategy might be fixed – clearing out the bad methods, codifying what works, and setting professional standards. Executives who do strategy are vital to this, as are the strategy consulting firms who have largely ignored the issues, but who probably have the best repository of knowledge and capability in strategy that exists. Academics in strategy should welcome an emergent strategy profession – people are more likely to buy into a subject which features a recognised profession. ...

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Chapter 2: True Professionalism

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This chapter explains that strategy does not exhibit any of the features that you would expect of a true “profession”. It  has no standard vocabulary (we don’t know what “competitive advantage” is, and can’t even define the “performance” strategy is supposed to deliver). There are no proven cause-effect relationships, so even if we knew what performance was, we don’t know where it comes from – companies triumph in appallingly tough markets and mess up in easy ones. There is no ...

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So what’s the problem?

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Apart from some great exceptions, business strategy is badly done – disasters are common and most others fail to achieve what is possible. We all pay a heavy price for this incompetence, whether as employees, customers, investors or simply as citizens – business (not Government or consumers) caused the latest recession (like just about all others), but it is the public that ends up paying for it.

Strategy is badly done because it is unprofessional – no common terminology, no reliable methods and ...

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