Great article and how-to small business strategy.
Excerpt: A decade ago, in the course of studying why certain high-tech companies thrived during the internet boom, we discovered something that surprised us: To shape their high-level strategies, companies like Intel and Cisco relied not on complicated frameworks but on simple rules of thumb. This was true even though they were in extraordinarily complex, challenging, and fast-moving industries. The rules were not only simple, we found, but quite specific. Typically, managers had identified one critical process—making acquisitions, for example, or allocating capital—where a bottleneck impeded growth, and then crafted a handful of guidelines to manage that process. This approach helped companies to bridge the gap between strategy and execution—to make on-the-spot decisions and adapt to rapidly changing circumstances, while keeping the big picture in mind. We reported our findings in HBR (“Strategy as Simple Rules,” January 2001).
At the time, we knew that simple rules worked in practice, but now—as a result of subsequent research that we and others have done—we have a much …….
Read full article also video via Simple Rules for a Complex World – Harvard Business Review.