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When Strategy Walks Out the Door by Teppo Felin

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When Strategy Walks Out the Door

It’s ironic that companies often spend significant resources on external strategy advice while ignoring one the most fruitful sources of strategic insights: their own employees. Unfortunately, employees whose ideas about strategy aren’t listened to may quit — and take their ideas with them.

The most frequent question I get asked by executives is: “What should our strategy be?” I tell most questioners — to their surprise — that they shouldn’t be asking me. And, frankly, neither should they rely on answers from anyone outside their organization.

There certainly is no shortage of high-priced consultants willing to answer the big questions of strategy. And advice about the “best” strategy can ...

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