Strategic Flexibility ≠ Spinelessness: The Myth About 'Agile Strategy'
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My collection of jokes and one-liners about strategy — Strategy Quips — is available as a free download for my subscribers. You’ll find the link at the end of this post.
In 2007, my company’s strategy was simple – sell at high prices.
The world was bursting with money, and we were rushing to make the most of it. We imported luxury home decoration materials from around the world and sold them with a solid gross margin.
Everyone was in a rush to live big and live beautifully. When customers tell you, "Shut up and take my money," it's stupid to say no.
The fairy tale ended in 2008 – the music stopped.
Our warehouse, packed with high-end materials, turned from an asset into a liability. Our suppliers wanted us to pay the invoices, but sales were about as lively as a college student after an all-night party.
Following trends might be a good strategy – until the trends turn around. And they always do.
A flexible strategy seems like a better idea.