Strategy for the 21st century

Throughout the 80s and 90s, the dominant approach to strategy was to take it as a highly analytical approach, planning everything in great detail.

An army of analysts would compile pages and pages of reports, which would then be summarized by either the head of strategy or a consultant, and then presented to the board or senior management.

What might've worked in the past, doesn't necessarily translate to today. The world has become much faster, competitive, and informed.

The Internet had a profound effect on all facets of our life, and the digital revolution that followed enabled nearly anyone in the world to become an entrepreneur.

A modern approach to strategy includes acknowledging  the uncertainty, focusing on making the best possible decision with the available data, and pivoting when called for.

Dr. Dominik Dellermann and Bruno Pesec have pooled their experience and research to outline some of the key differences between conventional and modern approaches to strategy, summarized in the table below:

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We invite you to reflect on the above, especially in the context of your own organization. How would you evaluate yourself? How do your preferences differ from the organization's? How could you improve your strategy process?

If you are interested in practical advice on how to combine human intuition with insights from data to make better strategic decisions, faster, our book Augmented Strategy is now available for order. If you order by January 16, and send me your order number, you will receive the digital edition for free.

Copyright © 2021 Bruno Pešec and Dominik Dellermann. All rights reserved.

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