Strategy

The dotcom boom and bust has left many businesses wondering whether it is even worth trying something new. Donald Sull offers six disciplines to help innovators manage risk: 

Most new chief executives are taken aback by the unexpected and unfamiliar new roles, the time and information limitations, and the altered professional relationships they run up against. Here are the common surprises new CEOs face, and here's how to tell when adjustments are necessary.

Surprise One: You Can't Run the Company

Warning signs:

You are in too many meetings and involved in too many tactical discussions.

When the economy is buzzing, most companies can afford to overlook inefficiencies or take a broader view of what their customers want. But when times are tough, as they are now, companies have little choice but to re-evaluate how they do business if they hope to continue to grow and prosper. Managers are faced with essentially two choices: cut costs or understand precisely where the most profitable market demand is and align more effectively with it. Both options are difficult, but only one can achieve both short- and long-term objectives.

The first half of this article begins before presenting keys 1, 2, and 3 to a terrible marketing strategy:
1.      Build the Strategy from the Top Down
2.      Don't Consult with Expert Tacticians
3.      Look Only at Your Own Industry and Competition

Here goes the rest: