In The Strategy Paradox, Michael Raynor posits that many of the strategies which lead to business success are the same strategies which can lead to business disaster. Most successful businesses result from strong strategic commitments, but if the future turns out differently than predicted, a firm may have committed to the wrong things.
Strategies which are based on today’s commitments but depend on tomorrow’s circumstances result in “strategic uncertainty.” This strategy paradox results from the need to commit to a strategy despite the uncertainty of what the future will bring. A logical but often unpracticed response to reduce strategic uncertainty is for a company to adopt strategic flexibility, to manage strategic uncertainty through the creation of strategic options - to actively anticipate, formulate, accumulate, and operate.
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