I remember two decades ago when I was in my first real executive role, and I was asked to come up with a strategy for my business unit. I was in control and I could develop and set a direction! I could finally use some of what I had learned in those traditional business school courses and seminars.

Analysis methods SWOT, PEST, Porter five forces, and the like were created and used. Assessments performed, gaps identified, and, finally, strategies created. A plan for technologies, markets, people, and quality was developed, with detailed action plans for each. It took up a binder, a very nice-looking binder that was duplicated and presented to my management team. We all dutifully looked in awe at what we had created—and proceeded to put it on a shelf. I bet some are still on those same shelves, even if the date reads 1995. And then we went back into the business of firefighting the day-to-day issues.

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