How can managers act with confidence when they cannot know what the future holds?
By paying more attention to the Strategy function. By re-discovering the art and science of operations research and decision sciences' methods in analysing scenarios of potential outcomes (like chess).
For many years now, too much emphasis has been placed on Sales, Cost Mgt, etc.
Strategy is considered a bit of a "luxury", even by large companies (for most small companies "Strategy" is a "foreign word"). How many corporations today have a Strategy Dept.?
Why have they outsourced the operation?
(This is an opinion I posted in the FT forums, April 16, 2006. The dynamic is equally current today)