Strategic feedback loops are the key.
In the last two decades, we’ve come to appreciate that strategy is in essence a guess.
That guess may be highly uneducated (at worst) or highly informed (at best), but it remains a guess.
Confusing the plan for a guarantee of reality to come can be catastrophic.
Assumptions need to be questioned, explored, and updated.
Think of it this way:
- Your strategy represents your best guess at achieving your goals.
- It is proven or disproven by how the world reacts to it.
- Your final outcome depends on your ability to understand and act upon feedback you are receiving from your environment, i.e. customers, competitors, and other stakeholders.
And that's the essence of a dynamic strategy.
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