Emphasize the organizational competencies that can provide sustainable competitive advantage. Avoid unwarranted diversification that dilutes shareholder values. A balanced approach to strategic control. The guidance and inspiration of an effective leader. Each of these ingredients is essential for success.
None is sufficient by itself.
Our seven strategic traps are the antithesis of these basic requirements. Organizations that fail to anticipate and provide effectively for each of these needs are, in effect, wandering through an unfamiliar jungle wearing a blindfold. Such an approach is foolhardy and usually results in an untimely plunge into one or more of the common strategic traps that lie along the intended path. Dess holds the Gatton Endowed Chair in Leadership and Strategic Management at Kentucky. He serves on the editorial boards of the Academy of Management Review and the Strategic Management Journal.