Good strategy takes into account the external environment from "summary" of Good Strategy Bad Strategy by Richard Rumelt
A good strategy does not exist in a vacuum. It must be grounded in a deep understanding of the external environment in which the organization operates. This external environment is made up of various factors that can have a significant impact on the success or failure of a strategy. These factors can include technological advancements, economic conditions, regulatory changes, competitive dynamics, and societal trends. Ignoring the external environment when formulating a strategy is a recipe for disaster. It is akin to setting sail without taking into account the weather conditions or the direction of the wind. Without a clear understanding of the external environment, a strategy is likely to be based on flawed assumptions and wishful thinking rather than on a realistic assessment of the challenges and opportunitie...
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