Abstract
Strategy is part of the core curriculum of any business school. It is also part of the core logic that drives successful businesses. Yet, despite its fundamental importance, strategy remains a controversial field of both study and practice. Cutting through the clutter, this article was originally published in 2001, but the thinking of Costas Markides is as timely as ever. “Strategic innovation has the potential to take third‐rate companies and elevate them to industry leadership status,” says Markides, “and it can take established industry leaders and destroy them in a short period of time.” All the more reason why you should be sure your strategic thinking is not only focused, but balanced. Here's how to fine‐tune how you create and review your strategy.
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