The Death of Classic Strategy
Peter Drucker has always been a hero of my heroes, the virtual “inventor” of strategy. But that approach, of older men, taking their time, analyzing data, planning for five or even ten years ahead in a predictable, mostly domestic economy, is forever obsolete. No one had pronounced it dead even as it ceased working, but the pandemic has simply cast it aside. No prior strategy in place before the pandemic will be effective post-pandemic without major revision, or simply discarding it and starting over. That applies to Microsoft and a chain of beauty shops’ owner, to Boeing and to shopping malls.
Don’t try to steer the car with a buggy whip, or choose a destination based on irrelevant considerations and “data” replacing judgment. Very few projections and predictions about the virus were accurate at all, but day-to-day, in-the-moment decisions often made a huge difference. The same applies to businesses. They require an “organic” strategy which will serve as the structure within which decisions are made daily to grow and prosper, to fulfill the mission.
Drucker’s approach served well for half a century, but this is a new world.