Issues in Strategy1: Some Discussions of Irreverence

Abstract

In a slightly tongue-in-cheek approach, the article documents a hypothetical discussion between Lord Krishna and Shakuni, who has been re-born on earth, and now wants to study strategy under Lord Krishna.The discussion starts with a debate on the meaning of strategy and the need to distinguish between strategy and operational efficiency, leading to the understanding of strategy as a sub-optimal choice. This leads to the definition of the generic strategies that Porter suggested and their interpretation as also sub- optimal choices.The discussion then veers to the inevitable linkage of strategy with uncertainty, and takes the view that instead of trying to reduce uncertainty, strategy should instead leverage it, and this is why most of the cor porate plans go wrong. This, and of course the obsession with growth. The desire for new opportunities should not be based on expected rates of return but instead, should seek to answer the question, do these activities result in some corporate advantage: thereby ine...