The Need For Smart Strategy

This chapter provides an overview of smart strategy. It examines the pathology of strategic inertia and identifies a number of levels of strategic IQ (intelligence quotient). It starts with firms demonstrating low IQ: they either don't know what strategy is or are incapable of changing it. This begs the question “What is Strategy?” The chapter addresses this briefly. Then it moves on to firms with moderate IQ, which have recognized the need for strategy and are developing skills in strategy formulation and execution. Finally, it identifies those with high IQ, constantly striving for better strategy.