Traditionally, strategy is associated with words like “long-term vision” and “plan”. But how can you develop a strategy in context of high uncertainty, where there is little clarity about long-term scenarios, and when planning involves a set of heroic assumptions which May likely probe incorrect? In this master class, we will explore the tension between two approaches to competitive strategy: one based on flexibility and exploration, and another based on commitment and exploitation.
We will also learn about how to adapt the strategy to external conditions, such as the the level of uncertainty in the environment and the competitive pressure. Finally, we will discuss a few approaches and examples for managing strategic risks.