John Bogle understood the essence of that, and he took advantage of incremental opportunities over time. You don't have to have all the answers up front. Most successful companies get two or three or four of the pieces right at the start, and then they elucidate their strategy over time. It's the kernel of things that they saw up front that is essential. That's the antidote to complexity.
Great strategies are a cause.
A lot of business thinking has stressed the notion of empowerment, of pushing down and getting a lot of people involved. That's very important, but empowerment and involvement don't apply to the ultimate act of choice. To be successful, an organization must have a very strong leader who's willing to make choices and define the trade-offs. I've found that there's a striking relationship between really good strategies and really strong leaders. That doesn't mean that leaders have to invent strategy.