Look closely at any successful strategy, and you’ll see bad outcomes occur more often than we would imagine. Strategies require decisions, and decisions are about the future. Predicting the future in a complex system is an unreliable venture. As a result, unexpected, unpredicted outcomes are the norm. It’s worth calling it what it is: luck. Resilient strategies accept and account for luck. They benefit from good luck and are resilient enough to survive bad luck.
