Strategic Thinking

Strategy simplifies life tremendously when facing the question "What to do next". Strategy is usually rooted in predictions of the future: When we can´t plan (in lack of predictions), we need to move fast and adapt quickly. We argue for a third, control-based option, which follows the logic "if we can control it, we don´t need to predict it". When businesses face situations, where reliable predictions of the future are simply not possible, control-based strategies have at least three advantages: reduced cost of prediction, reduced cost of failure and - perhaps most important - creativity and entrepreneurship as main elements in strategizing.

Challenges:

  • What to do next - in lack of valid predictions?
  • How can future outcomes be created without predicting the future?
  • What can be done, when "nothing can be done" (according to causal analysis)?
  • How can the cost of strategy failures be reduced?
  • How can strategy be developed by doing the possible (instead of just thinking the desirable)?