Friday, November 3, 2017

Business strategy still key despite new technology trends

It sometimes appears that the traditional
rules of business are being upended by today’s trends in technology, from big data and artificial intelligence to machine learning and crowdsourcing. These trends have transformed the world of business immeasurably.
But they have not repealed the timeless rules of strategy. Yet for too many entrepreneurs, strategy often seems to be an afterthought.
My academic research shows that it is only when timeless tenets are applied that entrepreneurs can sensibly plot strategy.
What I offer here are the most basic questions that every successful business must answer. Entrepreneurs who design their business around these questions will have a leg up when it comes to crafting strategy.