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The "way forward" in the context of "Good Strategy, Bad Strategy" refers to a strategic approach that focuses on one or two crucial objectives. It's about identifying the most important goals and concentrating corporate attention on them. This approach requires industry-level awareness to identify opportunities and threats, and adapt the strategy accordingly. It's about making strategic decisions that align with the changing dynamics of the industry.
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Sharp focus on one or two crucial objectives is vital. In this case, the objective was adapted; the original strategy of distributing directly to merchants was no longer tenable given Whole Foods' ascendance. "Management had skilfully designed a 'way forward' that concentrated corporate attention on one or two important objectives," Rumelt writes. Industry-level awareness is essential. Chen Brothers identified Whole Foods as a force worthy of altering its own course. Whole Foods has stayed; Chen Brothers was right to adapt. Knowledge of your industry is a must for identifying opportunities and threats and adapting your strategy accordingly.
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Even some of the world’s biggest organizations do strategy poorly, and incorrectly credit their success to personal decision-making skills. We read th...
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