From the course: Strategic Thinking
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Create an informed strategy
From the course: Strategic Thinking
Create an informed strategy
- Strategy is important, but here's the thing. It has to be an informed strategy. You can't input faulty assumptions and expect something amazing to come out of it just because you're being strategic. Here are three ways you can become smarter and more nuanced in your strategic thinking. First, recognize that good strategy doesn't actually have to be innovative. Sure, sometimes it is, and it can be transformative. Everyone would like to invent the next iPhone, but good strategy as the professor and author Richard Rumelt has said is about making choices and those choices don't necessarily have to be something unique that the world has never seen. Look at history, review past examples, and see what's worked before that might provide a useful guide for you. Look at what your competitors are doing. There's probably a pretty good reason for it. Now, depending on what that reason is, you may want to copy them, or you may want to…
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