planning for the future has become extremely difficult, and even somewhat futile—as it now is in many industries. For that reason, long-term planning approaches that require a firm’s executives to first look into the future, decide what position they want their company to occupy, and then work backward in time to determine the strategic assets needed in order to achieve said position rarely work. Either the future is too uncertain for management to agree upon, or not enough details of that future are visible to allow for precise strategic planning.
