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Stories by Bruce Greenwald and Judd Kahn

All strategy is local

Strategic is the most overused word in the vocabulary of business. Frequently it's just another way of saying, "This is important." The reality is that there are only a few situations in which companies' strategies affect outcomes. Such situations are, however, worth trying to create since the alternative, achieving superior efficiency, is a more demanding route to success, and a more impermanent one.
The aim of true strategy is to master a market environment by understanding and anticipating the actions of other economic agents, especially competitors. But this is possible only if they are limited in number.

Written by Bruce Greenwald and Judd Kahn29 Nov. 05 22:00