Essence of Strategy: Controversial Choices
Aneel G. Karnani
University of Michigan, Stephen M. Ross School of Business
Ross School of Business Paper No. 1032
The essence of strategy is to make controversial choices; this is the only way to gain a competitive advantage. Both strategy development and execution require making difficult choices and trade-offs often in the context of much uncertainty. Smart managers are bound to have opposing views given the nature of strategic decisions. This paper presents a process for strategy development that can help managers surface this conflict, and then manage and resolve the conflict, thus resulting in more effective strategic choices.
Number of Pages in PDF File: 17
Keywords: Strategy, competitive advantage, strategic planning process, choices, trade-offs, managing conflict, strategic analysis
JEL Classification: M10
Date posted: May 10, 2006
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