How can companies create and execute strategy when the business environment is highly turbulent? In this article, based on more than a decade of research at the Wharton School and the business schools at Purdue University and the University of Minnesota, Professor Baba Prasad describes how the concept of intelligence opens up a new frontier for strategy with surprising and deep implications for conceptualising not only business strategy but also business itself.
Uncertainty: The New Normality
The ruling metaphor to describe the current business climate is turbulence. Technologies change constantly and quickly, globalisation brings unforeseen and non-traditional competition, and customer demands and preferences become unpredictable. In addition, unstable governments and fickle regulatory policies, and changing patterns of labour migration combine with the threat of employee attrition to complete a mix that is as potent as the witches’ brew in Macbeth.